ARN deal to take over SCA potentially back on

It’s been a busy week for ARN media with the network continuing its association with The Logies, KIIS 1065 partnering with the Penrith Panthers for the rest of season 2024 and Jackie O releasing a book. According to the Australian Financial Review today (subscription required), there’s more. Australian Community Media (ACM) chairman Antony Catalano is apparently in talks with ARN Media for their own joint takeover bid of Southern Cross Media Group (SCA).

The last we heard of the ongoing saga to potentially takeover SCA a second proposed offer from ACM to SCA to acquire certain of their assets to bolster their strategy and position, was decided to not in the best interests of SCA shareholders.

You can read the full history here back to when ARN first acquired a 14.8% interest in SCA in an after-market raid in June 2023.

ARN’s AGM in May this year made clear that the network is particularly interested in Triple M branded stations and LiSTNR, not Hit branded stations or TV stations. What ACM hopes to obtain is yet to be seen.

By the end of this month both ARN and SCA will report their half year results; Thursday August 22 for ARN, and the following Thursday August 29 for SCA. In between those dates will be the release of metro GfK survey 5, on Tuesday August 27.

This will be interesting.

Jen Seyderhelm is a writer, editor and podcaster for Radio Today.