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

Sugar Agency Wins Fairfax’s ‘Ads Are Better Rich’ Competition For 2018
  • Advertising
  • Media

Sugar Agency Wins Fairfax’s ‘Ads Are Better Rich’ Competition For 2018

Digital player Sugar Agency has been crowned the winner of this year’s ‘Ads Are Better Rich’ competition by Fairfax Media. Launched by Fairfax’s chief revenue officer, Matt Rowley, at the company’s 2018 Agency Symposium, the challenge aims to encourage agencies to push creative boundaries by using rich media formats to develop a campaign that promotes their agency. […]

Former APN Outdoor Sales Boss Launches OOH Consultancy
  • Advertising
  • Media

Former APN Outdoor Sales Boss Launches OOH Consultancy

An ex-sales director from APN Outdoor is trying his hand at consulting to advertisers looking to spend some coin in the out-of-home market. After 13 years at APN leading its national direct sales and then its NSW agency sales teams, Tim Rose resigned from the business in shortly before it had agreed to be sold […]

Melbourne Agency Taska Media Wins Exhibition Events Australia Media Account
  • Media

Melbourne Agency Taska Media Wins Exhibition Events Australia Media Account

Independent media agency Taska Media has secured the entire national media business of Australia’s largest consumer events company Exhibition & Events Australia (EEA). The deal that will see the agency deliver a full suite of television, radio, out of home, digital, partnerships and publisher-focused media buying. The boutique agency said it won the account for EEA […]

US Culture Consultancy Opens Australian Office
  • Marketing

US Culture Consultancy Opens Australian Office

Consulting firm Ministry of Culture (MoC) has announced the expansion of its US-based business to Australia with a new office in Sydney. It is the first international office for the US group, which will focus on providing cultural transformation, consumer insights and culture creation to Australian and Asia-Pacific clients. MoC’s Australian founder, David Art Wales […]