Southern Cross Austereo to donate 19 days profits from Sydney station 2Day FM to dead nurse’s family as ads resume
It said that it would donate “profits” from advertising on 2Day FM until the end of the the year to the family of nurse Jacintha Saldanha who appeared to have taken her own life after being involved in a prank call from the Today Network’s Hot 30.
Tonight’s carefully worded announcement from Southern Cross Austereo did not commit all advertising revenue on the station during the period, only profits. At the time of posting, SCA had not returned Mumbrella’s call to ask it to define what it meant by “profits”.
Typically a media company might hope to make a profit of 10-20% on revenues, meaning that 80-90% of the advertising revenue would be likely to remain with the station. With radio stations facing a tough media market, the profit percentage could potentially be lower than that.
The offer covers only Sydney station 2Day FM, although the prank call was broadcast nationally on the Today Network.
When the advertising returns to the air, there will be 19 days until the end of the year.
The company said it would donate a minimum of $500,000 to the family.
According to the company’s annual report, last year it earned revenues of $687m and profits of $225.8m
“Following the company’s statement on 10th December, Southern Cross Media (SCA) today advises that after careful consideration it has resolved to resume advertising on 2Day FM effective Thursday 13 December, 2012.
“All profits from advertising on 2Day FM until the end of the year will be donated to an appropriate fund that will directly benefit the family of Jacintha Saldanha. A minimum contribution of AUD$500,000 will be made. SCA today reiterates its deep regret for what has taken place in these tragic and unforeseen circumstances and offers its condolences to the family of Jacintha Saldanha.
“SCA Chief Executive Officer Rhys Holleran said, “We are very sorry for what has happened. It is a terrible tragedy and our thoughts continue to be with the family. We hope that by contributing to a memorial fund we can help to provide the Saldanha family with the support they need at this very difficult time. The Company today reiterates that it is deeply saddened by this tragic and unforseen event and offers its condolences to the family of Jacintha Saldanha.”