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Southern Cross Media Group Limited ( (AU:SXL) ) just unveiled an announcement.
Southern Cross Media Group Limited has announced the sale of its remaining television assets to Seven West Media, marking its complete exit from the television sector in line with its ‘All About Audio’ strategy. The transaction, valued at $3.75 million upfront and estimated between $19 to $24 million in total, will help SCA reduce its net debt and focus on its core audio business, potentially strengthening its market position and operational focus.
More about Southern Cross Media Group Limited
Southern Cross Austereo (SCA) is a prominent Australian media company known for its LiSTNR digital audio app, the Hit and Triple M radio networks, and regional television stations, reaching over 95% of the Australian population. SCA offers a wide range of audio content, including music, sports, and podcasts, and provides sales representation for both local and global audio platforms.
YTD Price Performance: 13.33%
Technical Sentiment Signal: Buy
Current Market Cap: €95.13M
See more data about SXL stock on TipRanks’ Stock Analysis page.