50 – 50 chance of SCA and Nine Merger

Staff Writer

As reported on Radio Today last week, it now appears that there is a very real chance that Southern Cross Austereo and Nine Entertainment will merge in a $2billion deal.

SCA’s Chairman Peter Bush and CEO Grant Blackley have now confirmed that talks have been taking place.

The Australian reports that discussions have been taking place but there as yet is no agreement on a deal. Both companies have made statements to the ASX to disclose the talks.

Nines share price has declined with the speculation while SCA’s share price has been on the increase in recent times.

Southern Cross Austereo however has stated that despite the talks, “it has not received or made any merger proposal “

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