Yesterday B&T published an article relating to rumours sources had tipped us off to regarding the financial solvency of Southern Cross Austereo (SCA).
At the time of publishing, B&T believed the article to be factually correct and had sought comments from SCA including its CEO, Grant Blackley, that were included in the article.
The article was clear in stating Southern Cross strongly denied the rumours.
B&T now acknowledges the article was speculative and included some inaccuracies regarding SCA’s current debt levels. The numbers we published were out of date and the current debt levels are less than we stated.
The article also inferred that SCA and Nine Entertainment had entered into a deal that was not conducive to either party and B&T acknowledges that the statement was incorrect.
The article was removed from the B&T website at 2pm yesterday afternoon.
B&T would like to apologise for any offence caused to SCA, its staff and management and for misleading readers.
