SCA coup attempt: Activist investor seeks ARN vote

Hal Crawford

May 16, 2025 10:30

Southern Cross Austereo’s activist investor Sandon Capital has applied for permission for ARN Media to vote in its upcoming spill against SCA’s board.

It is not known whether Sandon and SCA competitor ARN are aligned in Sandon’s attempt to remove chair Heith Mackay-Cruise, and directors Ido Leffler, Carole Campbell and Marina Go. Mumbrella has contacted ARN for comment.

SCA board member Marina Go

ARN is currently not allowed to exercise voting rights over 6.83% of its holding of SCA (total 14.8%) except in very limited circumstances. The portion was “frozen” last year because its acquisition breached takeover rules.

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Hal Crawford

Crawford has worked across news media over a 30-year career, including running Ninemsn editorial in Sydney (editor-in-chief and publisher) and the TV3 newsroom in Auckland (chief news officer).

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