:Southern Cross Media Group
{{Short description|Australian media company}}
{{Redirect|Macquarie Media Group|the unrelated company formerly operating as Macquarie Radio Network|Nine Radio}}
{{Use dmy dates|date=November 2020}}
{{Infobox company
| name = Southern Cross Media Group
| logo = Southern Cross Media Group logo.png
| logo_size = 220px
| type = Public
| traded_as = {{ASX|SXL}}
| location = South Melbourne, Australia
| foundation = November 2007
| industry = Media
| owner = ARN Media 14.8%
| homepage = [http://www.southerncrossaustereo.com.au/ southerncrossaustereo.com.au]
}}
Southern Cross Media Group (formerly Macquarie Media Group) is one of Australia's major media companies, as the parent company of Southern Cross Austereo. Its headquarters are in South Melbourne.
History
On 3 July 2007 Southern Cross Broadcasting recommended Macquarie Media Group's offer of A$1.35 billion, for a takeover of the corporation. Under the deal, Macquarie Media Group would then onsell the metropolitan radio stations to Fairfax Media.{{cite web
| url = http://www.abc.net.au/news/stories/2007/07/03/1968580.htm
| archive-url = https://web.archive.org/web/20071210051124/http://www.abc.net.au/news/stories/2007/07/03/1968580.htm
| url-status = dead
| archive-date = 10 December 2007
| title = Southern Cross Broadcasting sold for $1.35b
| access-date = 3 June 2007
| date = 3 June 2007
| publisher = Australian Broadcasting Corporation
}} On 5 November 2007, the company officially acquired Southern Cross Broadcasting's assets.{{cite web|url=http://www.theaustralian.news.com.au/story/0,25197,22708729-30540,00.html |archive-url=https://archive.today/20071109071025/http://www.theaustralian.news.com.au/story/0,25197,22708729-30540,00.html |url-status=dead |archive-date=9 November 2007 |title=Southern Cross falls to Mac and Fairfax |access-date=3 June 2007 |date=3 June 2007 |work=The Australian}} On 17 December 2009 shareholders approved a restructuring plan. The company was then renamed from Macquarie Media Group to its current name on 17 December 2009.{{cite web
| url = http://www.macquarie.com.au/au/mmg/index.html
| title = Company website
| access-date = 19 February 2010
| date = 19 February 2010
| publisher = macquarie.com.au
| url = http://www.investsmart.com.au/company_profile/summary/default.asp?SecurityID=SXL&ExchangeID=ASX
| title = InvestSmart profile
| access-date = 19 February 2010
| date = 19 February 2010
| publisher = investsmart.com.au
| url = http://www.macquarie.com.au/au/mmg/news/attachments/17_dec_egm_release_preso.pdf
| title = Internalisation and Corporatisation Meetings
| access-date = 2 March 2010
| date = 17 December 2009
}}
In March 2016, Macquarie Group sold a 15.7% stake in Southern Cross Media worth $130 million, and of that 9.9% was purchased by Nine Entertainment, the owner of the Nine Network.{{cite web|url=http://www.tvtonight.com.au/2016/03/nine-buys-southern-cross-shares.html|title=Nine buys Southern Cross shares |date=18 March 2016|access-date=18 March 2016|work=TV Tonight|first=David|last=Knox}}{{cite web|url=http://mumbrella.com.au/telstra-tipped-to-try-and-sell-foxtel-stake-nine-buys-stake-in-southern-cross-austereo-354092|title=Telstra tipped to offload its Foxtel stake as Nine buys 9.9% of Southern Cross Austereo|date=18 March 2016|access-date=18 March 2016|work=Mumbrella}} Nine sold this stake in the business six months later.{{cite web|url=http://www.adnews.com.au/news/nine-sells-stake-in-southern-cross-after-only-six-months|title=Nine sells stake in Southern Cross after only six months|date=30 September 2016|access-date=7 August 2019|work=AdNews}}
Assets
- American Consolidated Media (10% non-voting stake) {{Cite web |url=http://editorandpublisher.com/PrintArticle/Following-Loan-Breach-Banks-Take-Control-of-Hibbing-Daily-Tribune-Parent |title=Editor & Publisher |access-date=8 July 2012 |archive-date=29 March 2013 |archive-url=https://web.archive.org/web/20130329032328/http://editorandpublisher.com/PrintArticle/Following-Loan-Breach-Banks-Take-Control-of-Hibbing-Daily-Tribune-Parent |url-status=dead }}
- Southern Cross Austereo
- Hit Network - metropolitan and regional radio, hot adult contemporary
- Triple M - metropolitan and regional radio, mainstream rock/modern adult contemporary
- Southern Cross Seven
- TNT - Tasmania
- TND - Darwin
- GTS/BKN - Spencer Gulf region of South Australia and Broken Hill, New South Wales
- GDS/BDN - Nine Network affiliate
- SGS/SCN - Network 10 affiliate
- QQQ - Remote Eastern and Central Australia
- Tasmanian Digital Television (50% share with WIN Corporation)
- Darwin Digital Television (50% share with Nine Entertainment)
- Central Digital Television (50% share with Imparja Television Pty Ltd)
References
{{Reflist}}
External links
- [http://www.southerncrossaustereo.com.au Southern Cross Austereo]
{{Southern Cross Austereo}}
{{Macquarie Group}}
{{S&P/ASX 200}}
Category:Television broadcasting companies of Australia
Category:Companies listed on the Australian Securities Exchange
Category:Companies based in Sydney
Category:Mass media companies of Australia