Television write downs hit Southern Cross Austereo’s bottom line

February 21, 2019 10:26

Southern Cross Austereo has reported revenue and profit growth in its first half results, but the group’s bottom line was dragged back by a fall in TV income and a write-down of its television assets.

For the six months to the end of 2018, SCA reported revenue up 0.2% to $335.7m and EBITDA up 2.5% to $82.0m. The group reported a net loss after tax of $119.3m on the back of a $226.9m write down of its regional television network.

SCA’s boss Grant Blackley attributed the improved underlying results to cost discipline and educating advertisers on radio’s advantages

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Paul Wallbank

Paul Wallbank was news editor at Mumbrella between June 2017 and June 2019. Previously he's covered business and technology issues for outlets ranging from The Australian and Sydney Morning Herald to the ABC and Business Spectator.

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