Nine confirms talks with SCA amid speculation of merger ahead of media reform

November 13, 2015 10:36

Nine Entertainment has moved to try and dampen media speculation about a potential merger between Nine Entertainment and Southern Cross Austereo.

The move comes amid media reports of recent negotiations speculating Nine would buy its counterpart’s radio assets ahead of changes to the media ownership rules that currently prevent the TV network merging with the whole of SCA.

In a statement to the ASX, Nine said: “From time to time over the past few years there have been discussions with Southern Cross Media on various commercial and broader business transactions.

“NEC and Southern Cross media have not reach any agreement on any transaction. Should an agreement be reached at any time, NEC will make an appropriate announcement to the market in accordance with its disclosure obligations.”

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Nic Christensen

Nic Christensen worked for Mumbrella from 2013 to 2016, in roles including deputy editor and media & technology editor. He is former media writer for The Australian and has also worked as a reporter for The Daily Telegraph and senior producer for Radio 2GB.

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2 COMMENTS

Buyer 13 Nov 15

The plot thickens……

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Queenslander 16 Nov 15

Nine owns NBN.

NBN covers NNSW aggregated TV area.

Within the NBN area, SCA have radio stations on the Gold Coast, Coffs Harbour, Port Macquarie, Newcastle and Central Coast.

Currently, the number of owners of conventional media outlets is legislated to ensure diversity.

Nothing has changed with media legislation in the past twelve months.

Nine would be in great risk of having to divest radio stations in some of the aforementioned regional markets if no legislation was amended within the usual 12 month grace period that is usually given.

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