Assets Sales on the Cards?

Wednesday will see Southern Cross Media hand down their half year results for the period ending December 31. It will give a glimpse into how the group is performing overall, and more than likely how they expect to push down their current debt levels.

The Australian Financial Review reports today that SCA have been in talks with TX Australia looking at potentially selling  90 of its regional transmission facilities.

According to the paper, the SCA properties “have earnings of about $5 million, so applying a multiple of 8 to 10 times, they could be worth $40 million to $50 million.”

TX Australia is a joint venture company owned by Seven West Media, Nine Entertainment Co and Ten Network Holdings. They currently own and operate the transmission sites in five metro markets.