SCA to sell 3-Agg television licences to Network 10
SCA has signed heads of agreement for the sale of its television licences in the three aggregated markets of Queensland, southern New Sale Wales and Victoria (3-Agg Markets) to Network 10.
SCA currently broadcasts Network 10 programs under regional affiliation arrangements in these markets.
In August, Southern Cross Media Group Limited announced that it had recommenced a strategic review of its non-core regional TV assets and was in active negotiations with several parties with an interest in acquiring those assets.
Completion of the sale is expected by the end of February 2025. At that time, Network 10 will commence operating the 3-Agg Market licences.
SCA will retain its local salesforce in the 3-Agg Markets and will provide third party local advertising sales representation services in the 3-Agg Markets for Network 10 during the Participation Period on commercial terms under an advertising sales services agreement.
SCA has received interest from several other parties and continues to be in active negotiations regarding sale of SCA’s television assets in Tasmania, Spencer Gulf/Broken Hill, Darwin, Remote Central and Eastern Australia (including the Viewer Access Satellite Television service).
SCA will update shareholders on the progress of these negotiations and intends to apply the proceeds of the sale of its television assets towards reducing its net debt.
Now thanks to this sale, hundreds of workers are now out of a job.
Mildura was clearly the wakeup call TEN needed.
But what does this actually achieve? How would viewers in these markets be affected (even if it’s just changes to visual aesthetics/adverts)? Are these TV assets even worth anything in this economy and media market if advertisers are preferring to spend big on social media and online marketing?
Well this is the beginning of a new era for television, where local news updates and commercials will be ridded from TV and replaced by all national buys and city advertising from the capitals (not including Canberra as that is technically seen as a regional market).
So enjoy the local ads and news updates while they last, because in 5 years time, the advertising deal with SCA under Network 10 ownership will be done and there will be no more localism in regional areas at all on 10. Repeaters of capital city stations is the future.
@Radio_TVGuy I’m pretty sure after Ten take over the currently SCA-owned affiliates, Ten will still be legally required to produce a certain amount of regionally relevant news/content even if it’s just those cheap updates which are currently presented in Hobart (I think) but have previously come out of Canberra.
Presentation of the regional News Updates will probably move to capital cities after Ten takes over, but the content will still have to be tailored for Canberra or Cairns or wherever.
As for regional advertising, well there’ll probably be still some after Ten takes over (even now, you still see local ads on commercial TV in Sydney, Melbourne, Brisbane, etc.) but I don’t think the average viewer who sees the ads as a distraction to their program particularly cares whether they’re local or national spots!
Channel 20 must have hit a good offer