Southern Cross Media Group and WIN enter discussions over media assets deal
Southern Cross Media Group has entered into discussions to sell its northern NSW TV assets and operations to WIN and to acquire WIN’s Wollongong radio station.
The announcement issued to the Australian Securities Exchange said the “proposed transaction would create a multimedia market for SCA with the ability to cross-sell radio and television in this market”.
Under an affiliation agreement with Network Ten, SCA broadcasts Ten programming in the northern NSW television licence area.
The affiliation agreement is for a five-year term ending on June 30, 2021, and completion of the the proposed transaction with WIN will be subject to consent from Network Ten.
WIN already broadcasts Ten programming in several regional television license areas, including regional Victoria, southern NSW and regional Queensland.
According to the ASX announcement the proposed transaction “would enable WIN to sell advertising for Ten programming in the four aggregated regional markets on the eastern seaboard”.
SCA currently has a program supply agreement with the Nine Network under which SCA broadcasts Nine programming in regional Victoria, southern NSW (including Wollongong) and regional Queensland.
The company also provides national sales services for Nine’s NBN channel in northern NSW.
In the radio market, SCA has 68 regional radio stations but currently does not operate a station in the Wollongong licence area. The deal would see SCA acquire WIN’s i98FM Wollongong radio station.
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