‘What do the shareholders want to do?’ How SCA will address ARN’s takeover bid at AGM tomorrow

Just a week after rival radio competitor, ARN, announced a shock takeover bid, all eyes will be on Southern Cross Austereo at its annual general meeting on Friday.

Since the proposal was announced last week – which would see ARN create a “focused” metro radio network of 10 stations across Sydney, Melbourne, Brisbane, Adelaide and Perth with each city featuring a KIIS and Triple M brand – reports have emerged that SCA are looking for a counterbid, while Australian Community chairman, Antony Catalano, is rumoured to be in the mix.