Radio wars: ARN makes shock bid for SCA

ARN Media – home to stations including the KIIS network, iHeartRadio and CADA – alongside private equity firm, Anchorage Capital Partners, has today made a non-binding indicative offer to acquire 100% of the fully diluted share capital of rival radio competitor, Southern Cross Austereo.

In a statement released on Wednesday morning, it was confirmed that the intention is for the radio and television assets of ARN and SCA to be separated into independent ownership by each of ARN and Anchorage, which would then result in “two separate, national media organisations that will compete independently of each other on metro and regional radio, and more broadly.”

The move would see a “focused” metro radio network of 10 stations across Sydney, Melbourne, Brisbane, Adelaide and Perth – each city featuring a KIIS and Triple M brand – and an aim to increase its regional radio footprint from 47 to 88 stations.