Southern Cross confirms ACM merger proposal

1:04pm on 10 November 2023

The news: Southern Cross Media Group has confirmed it has received a merger proposal from Australian Community Media, in a deal that could scupper ARN Media's plans to acquire the radio station owner.

The numbers: Under the unsolicited proposal, Southern Cross would acquire digital and regional publication assets from ACM in return for new shares issued by SCA.

The context: Southern Cross' board is still considering a deal from ARN Media and Anchorage Capital to acquire 100% of SCA shares for 0.753 ordinary ARN shares and 29.6 cents per target share.

The source: ASX announcement

Southern Cross confirms ACM merger proposal

Sign up to Letter of Intent Sign up to Letter of Intent Signed up to Letter of Intent

Sign up to The Signal Sign up to The Signal Signed up to The Signal

Sign up to The Edition Sign up to The Edition Signed up to The Edition

Sign up to Standup Sign up to Standup Signed up to Standup