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Reading: Ten’s McLennan publicly berates Southern Cross over merger
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B&T > Media > Ten’s McLennan publicly berates Southern Cross over merger
Media

Ten’s McLennan publicly berates Southern Cross over merger

Staff Writers
Published on: 14th March 2013 at 11:57 AM
Staff Writers
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A statement released by incoming Ten Network CEO, Hamish McLennan, has signalled a breakdown in relations between the network and its current content recipient Southern Cross Media.

McLennan said in a statement released to the media that “It is now obvious to everyone that Southern Cross Media’s intention is to merge with Nine Entertainment Co.”

In a clear sign that negotiations that interim CEO Russell Howcroft described as continuing “in good faith” have broken down, McLennan said the following:

“On March 4 this year, a statement issued by Southern Cross Media said it was ‘reviewing a number of strategic options’ and ‘the board has not, at this stage, formed a view as to any preferred option’.

“But Southern Cross Media remains silent. Its shareholders have a right to know if the company’s directors are meeting their continuous disclosure obligations. Its shareholders have a right to know how detailed and advanced the discussions between Nine and Southern Cross Media are, and what has been discussed with the Government.”

McLennan also joined the long list of media bosses lining up to take a swing at Communications Minister Senator Stephen Conroy

“The Government’s determination to rush through the removal of the 75% audience reach rule is staggering.

“All Australians have the right to know what whispers have taken place over the back fence, and what conversations have been had with the Minister for Broadband, Communications and the Digital Economy, Senator Stephen Conroy.

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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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