Southern Cross Austereo shares slump by $66m after prank phone call death

Source: Google Finance

Shares in Southern Cross Austereo have crashed in early trading as the market waited to hear when advertising would return to Sydney station 2Day FM and to see the wider implications for the national Today Network.

News emerged over the weekend of the death of a nurse in the UK who put through a prank call to the hospital ward where the Duchess of Cambridge was being treated for acute morning sickness. The nurse reportedly took her own life.

This morning, shares in Southern Cross Austereo, trading on the ASX as SXL, dropped by 8% from $1.11 to $1.02 in early trading, wiping approximately $66m off the company’s market capitalisation.

More follows shortly


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