MACQUARIE Media Group has bought a 14.9 per cent stake in Southern Cross Broadcasting.
Macquarie Media, which is backed by Macquarie Bank, paid $170 million for its slice of the broadcasting group, The Australian reports today.
Southern Cross owns top-rating radio stations 2UE in Sydney and 3AW in Melbourne.
It also runs the Ten Network’s regional television stations.
The move follows the introduction of the federal government’s media ownership laws, which has triggered several strategic media company investments.
Southern Cross has one of the biggest regional television networks as well as the only network of metropolitan AM radio stations.
Macquarie Media owns 86 regional radio stations and part of a Taiwanese broadband group.
Mac Bank takes $170m media stake
Friday, November 17, 2006 | Labels: Radionews |
MACQUARIE Media Group has bought a 14.9 per cent stake in Southern Cross Broadcasting.
Macquarie Media, which is backed by Macquarie Bank, paid $170 million for its slice of the broadcasting group, The Australian reports today.
Southern Cross owns top-rating radio stations 2UE in Sydney and 3AW in Melbourne.
It also runs the Ten Network’s regional television stations.
The move follows the introduction of the federal government’s media ownership laws, which has triggered several strategic media company investments.
Southern Cross has one of the biggest regional television networks as well as the only network of metropolitan AM radio stations.
Macquarie Media owns 86 regional radio stations and part of a Taiwanese broadband group.
Macquarie Media, which is backed by Macquarie Bank, paid $170 million for its slice of the broadcasting group, The Australian reports today.
Southern Cross owns top-rating radio stations 2UE in Sydney and 3AW in Melbourne.
It also runs the Ten Network’s regional television stations.
The move follows the introduction of the federal government’s media ownership laws, which has triggered several strategic media company investments.
Southern Cross has one of the biggest regional television networks as well as the only network of metropolitan AM radio stations.
Macquarie Media owns 86 regional radio stations and part of a Taiwanese broadband group.
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