SCA sells northern NSW television assets to WIN for $55m
Southern Cross Austereo has agreed to sell its northern New South Wales TV operation to Bruce Gordon’s WIN Corporation for $55m.
The move comes less than a week after a discussion broke down which would have also seen WIN hand over its i98FM Wollongong radio station to SCA as part of a deal.
The new arrangement sees WIN hand over $45m for the TV assets up front and a further $10m one year later. The area covered includes stretches from Newcastle to the Gold Coast and inland towards Tamworth and beyond.
WIN will buy SCA’s Northern NSW TV assets
“For viewers there will be little obvious impact on the screen, ”
Except that fucking hideous big blue blob WIN insists on covering half the screen with.
Journo grads should calm their excitement, thirty minute format local news is unlikely.
55 million seems a high price for a station running third or often, fourth which has nothing but sales teams and some transmission infrastructure.
Good to see Mark’s found Mumbrella, lovely not reading your comments on Mediaspy.
Just getting the house in order before Amazon Prime hits the market and changes audience viewing habits.
I wonder what the book value of the asset was?
So are WIN keeping their radio interests i98 and the other one or have they been sold on to SCA?
Hi Stevie,
Please see above – i98 was excluded from the deal.
Cheers,
Tim – Mumbrella