Bauer Ponders $1 Billion Takeover Of Southern Cross Austereo

Bauer Ponders $1 Billion Takeover Of Southern Cross Austereo

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.




Please login with linkedin to comment

Advertising Standards Bureau Radio The Edge

Latest News

SBS Audio Campaign Tells The Stories Of New Australians, With Multilingual Content Offerings To Assist Migrants
  • Advertising
  • Campaigns

SBS Audio Campaign Tells The Stories Of New Australians, With Multilingual Content Offerings To Assist Migrants

SBS Audio has launched a new marketing campaign for its ‘Australia Explained’ service which supports new migrants to successfully navigate life in Australia and achieve a greater sense of belonging and social cohesion. SBS’s flagship service for new migrants, Australia explained, has launched a multi-platform marketing campaign that reaches into the heart of the migrant […]

Tracker App Launches, Promising Consumers A Read On Brand’s & Products Sustainability Chops
  • Advertising

Tracker App Launches, Promising Consumers A Read On Brand’s & Products Sustainability Chops

Shoppers can now get access to sustainability information at their fingertips through Tracker, a first-of-its-kind mobile app. The Tracker app centralises sustainability data into a single, easy-to-understand format, helping shoppers make informed choices about the brands and products they support. Shoppers can simply scan the barcode of their favourite supermarket, chemist or department store item […]