What's New
BY Sarah Patterson April 26, 2024
What's New June 20, 2023
ARN secures 14.8% chunk of Southern Cross Media Group
ARN secured a 14.8% piece of rival Southern Cross Media Group Limited in an after-market raid last night, coming with a $38.3 million price tag.
The Australian Financial Review (subscription required) reported the raid on Monday evening.
An acquisition of a position over 15% requires future approval of the Australian Communications and Media Authority (ACMA), and ARN Media is expected to release the ASIC Form 603 “Notice of initial substantial holder” in due course, but at this point, the purchase by ARN Media is said to be purely strategic.
This development comes not long after SCA’s Chief Executive Officer of eight years, Grant Blackley, announced his July 1 departure with Chief Operating Officer John Kelly stepping up to fill the spot.
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What's New
BY Sarah Patterson April 26, 2024
Not again. Poor old Newcastle will have more staff cuts and networked programs. Australia’s 7th largest city , number 1 & 2 stations, pooring its profits into low rating metro programs
Calm the farm James, it’s a strategic investment by ARN. They can’t own more than 15%
Your Newcastle stations won’t be affected.
James last I checked both Newcastle stations ran local programming from breakfast until drive when picking up the network feed, but let’s not let the truth get in the way of a ‘good’ comment
14.8% of 2DayFM profits get sent to KIIS1065!
How demoralising to be owned by your competitor!
2DayFM hasn’t made profit since Kyle & Jackie O left.
Does this mean 96FM, 92.9 Triple M & MIX 94.5
are all now related ?
Why don’t ARN fix their own stations like Brisbane, Adelaide and 101.1 in Melbourne.
Agree Captain Paul. 97.3FM in Brisbane is such a wasted opportunity. It should be more “Smooth” or “Pure Gold”, but instead they’ve gone with the dreadful KIIS brand and format, in a city that already has B105 and Nova, and no real adult music format available on FM. I don’t count Triple M because it’s a talk, sport and bogan station.