Bauer Ponders $1 Billion Takeover Of Southern Cross Austereo

Bauer Ponders $1 Billion Takeover Of Southern Cross Austereo
SHARE
THIS



Bauer Media – publishers of such luminary organs as Women’s Weekly, Woman’s Day and Cosmopolitan – is reportedly set to make a $1 billion offer for Southern Cross Austereo (SCA).

The Australian is this morning reporting that the German-owned media giant has had its eye on the radio network – whose brands including MMM and 2DayFM – for the past 12 months.

However, the work is still preliminary and has not moved any further than a potential deal being investigated.

B&T contacted Southern Cross Austereo for comment and got a very fast and efficient “no comment”.

Bauer have a number of radio operations – primarily FM and youth networks – in its other territories including the UK and its native Germany and it believes it is a good fit with its magazine division.

The OZ has reported that Bauer also looked at Lachlan Murdoch’s Nova Entertainment Group late last year but was emphatically told it was not for sale.

To muddy the waters even further, Channel Nine is also said to be very keen in SCA too and any takeover would be subject to current media ownership laws. However, there is now strong evidence that the Turnbull government will overhaul these but what that equates to and when it will actually happen remains unclear.

With so many keen suitors, SCA’s share price has unsurprisingly surged by a third since October.

Latest News

McCann Names New MD For Melbourne
  • Advertising

McCann Names New MD For Melbourne

Creative agency McCann has announced the appointment of Georgie Pownall as its new managing director for Melbourne. With over 20 years’ experience in marketing and advertising, Pownall (pictured above) joins McCann most recently from Publicis Mojo. She has also worked for several other agencies such as The Campaign Palace, DDB, Saatchi & Saatchi, and CHE. […]

ABC Accuses Murdoch Of Helping Oust Turnbull
  • Media

ABC Accuses Murdoch Of Helping Oust Turnbull

The ABC aired an explosive report during its 7 pm News last night, claiming News Corp’s Rupert Murdoch waged a media-driven war against ex-prime minister Malcolm Turnbull to oust him from parliament. According to ABC, Seven West Media CEO Kerry Stokes was told Murdoch Turnbull “had to go”, in the lead up to the Lib […]

Data Storytelling Platform Nugit Appoints Darren Jacobs To Lead Sales
  • Media

Data Storytelling Platform Nugit Appoints Darren Jacobs To Lead Sales

Following its Australian launch, data storytelling platform Nugit has appointed Darren Jacobs as VP sales and client development to drive new business across the region. Jacobs has extensive experience working in Australia, joining Yahoo! from its London office in 2008 before moving to Publicis owned agency Zenith Optimedia as performance account director and then digital […]

Dendy Icon Promotes Sharon Strickland To CEO
  • Media

Dendy Icon Promotes Sharon Strickland To CEO

Cinema and film distribution group Dendy Icon has announced the promotion of Sharon Strickland to CEO. Strickland joined the company in 2010 from Hoyts as financial controller before being promoted to chief operating officer in 2014. She replaces Greg Hughes as CEO, who left Dendy Icon in November after 11 years at the group. Dendy […]

Natalie Bassingthwaighte To Host Ten Reno Show ‘Changing Rooms’
  • Media

Natalie Bassingthwaighte To Host Ten Reno Show ‘Changing Rooms’

Network Ten has announced that Aussie actress and singer Natalie Bassingthwaighte play the role of host on the revamped renovation show Changing Rooms. A woman of many talents, Bassingthwaighte has had a long association with Ten with previous appearances on Neighbours, The Wrong Girl and So You Think You Can Dance Australia. More recently Bassingthwaighte […]

WhichCar TV To Launch In 2019 On Channel Ten
  • Media

WhichCar TV To Launch In 2019 On Channel Ten

Bauer Media and Network Ten are proud to announce an exciting new television show for 2019 showcasing everything new car buyers need and car lovers want.

QLD Department Of Health Aims To ‘Stop The Rise Of STIs’
  • Campaigns

QLD Department Of Health Aims To ‘Stop The Rise Of STIs’

In order to address high STI rates and lack of knowledge amongst young adults, Khemistry – a GrowthOps business – has created a multi-channel campaign for the Queensland Department of Health. The campaign encourages sexually active young Queenslanders to get tested, use protection, every year or with every new partner. STI rates in Queensland are […]