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Reading: Southern Cross sells Sea FM, Mix FM
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B&T > Media > Southern Cross sells Sea FM, Mix FM
Media

Southern Cross sells Sea FM, Mix FM

Staff Writers
Published on: 7th March 2013 at 1:56 PM
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Southern Cross Media has sold its subsidiary Sunshine Coast Broadcasters for $17.75m to Eon Broadcasting because its acquisition of Austereo in 2011 left it with too many FM broadcasting licences in the Brisbane and Nambour areas.

Sunshine Coast Broadcasters operate two FM stations on the Queensland Sunshine Coast ‚Äë Sea FM and Mix FM.

Eon Broadcasting is 90% owned by private equity firm Oceania Capital Partners. The remaining 10% stake is owned by The Wheatley Organisation.

The deal will havea revenue effect from 1 March, but is not expected to be finalised until later this month.

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Staff Writers represent B&T's team of award-winning reporters. Here, you'll find articles crafted with industry experience spanning over 50 years. Our team of specialists brings together a wealth of knowledge and a commitment to delivering insightful, topical, and breaking news. With a deep understanding of advertising and media, our Staff Writers are dedicated to providing industry-leading analysis and reporting, both shaping the conversation and setting the benchmark for excellence.

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