It’s all money, they just offered more.
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Ally Bradley, who is currently executive general manager – Victoria & Tasmania, will see her remit expanded across regional South Australia and the Northern Territory to become executive general manager – VIC, Tas, SA & NT. Bradley has had a 14-year career at SCA in sales and operational roles.
Sarah Racic, who has been acting general manager of the Spencer Gulf (SA) and Northern Territory markets, has been appointed head of sales – South Australia and Northern Territory.
Tracy Paterson, currently executive general manager – NSW will also see her remit expanded to include the ACT and Albury and has been promoted into the dual role of executive general manager – NSW and ACT and head of regional sales for SCA’s radio, digital and television assets.
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The best boss. Absolute gem.
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Wouldn’t have much to sell now there’s no longer any local TV news. Proven extremely unpopular with local clients.
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The reception area at SCA headquarters in South Melbourne was reportedly graffitied with male genitalia according to the amusement of various Fox and 3MMM programs.
At least Fifi, Fev and Nick and JB and Bill both mentioned it today.
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From the AFR: KIIS FM owner ARN Media teams up with PE to bid for Southern Cross
KIIS FM’s owner ARN Media is working with Phil Cave’s Anchorage Capital Partners to lob a bid for rival radio station owner Southern Cross Media.
The indicative, non-binding offer expected to be announced as early as Wednesday.
*ARN is advised by Jefferies Australia and law firm Gilbert + Tobin, sources said. *
*The move comes four months after ARN Media raided Southern Cross’s register via Jefferies’ equities desk, and walked away with 14.8 per cent of the company via its broker Jefferies. *
*At the time, both companies citied the Broadcasting Services Act 1992, which allow media outfits to own a maximum of two commercial radio broadcasting licences in all metropolitan markets and several regional markets. The law also limited ARN from going past the 15 per cent ownership threshold. *
*It is understood Anchorage’s involvement will see the buyout firm pick up a handful of radio stations, allowing the consortium to circumvent media ownership regulations. *
*Southern Cross Media, which owns well-known commercial radio stations like Triple M, has a $176 million market capitalisation. *
Its largest shareholder is Allan Gray at 16.4 per cent, followed by ARN at 14.8 per cent, Ubique Asset Management with 9.75 per cent, REST with 5.66 per cent and Dimensional Fund Advisors at 5 per cent. That’s 51.65 per cent of the register with just five shareholders.
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I’m a bit lost as to why ARN wants to buy SCA if they need to offload a decent number of licences to maintain compliance.
Is there a little bit of 4D chess going on here?
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Probably to cherry pick and sell the others to a competitior that is less likely to compete in the same space.
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You’ll know tomorrow morning around 8.30
Btw. I was let go from SCA today.
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Sorry to hear that.
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That’s what I would think too. Unless they do something fancy with company structures I would think they might cherry pick. For instance in Perth they might sell their half of Nova, keep 94.5 and convert that to KIIS and 96 to Pure Gold. God knows what they would do in Brisbane as they would have to offload River and Hot 91. Maybe they would keep FM104 as Pure Gold and go full on KIIS with 97.3. Lots of options. Adelaide possibly the same with 104.7 going Pure Gold.
Having said all that I wouldn’t rule out them finding some way to have another company owning some stations so they can “keep” more of them, particularly the metro FM’s
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Cheers mate. All good. Radio is a fickle business. Will be interested to see what happens with ARN.
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Wonder how many licences will be sold to SEN then 
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Reading between the lines in that AFR report above, the second last dot point says to me, they’ll split the % of ownership between ARN & their investment partner to effectively become a joint venture, so they don’t have to offload any stations but can eliminate a competitor by effectively owning 2 stations each, say in Sydney, with ARN having control of 2 & the investment partner having control of the other 2 stations?
Guess we’ll find out soon enough.
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Ah that wouldn’t surprise me. It could actually be a benefit for the listener. I believe a single operator owning (or at least controlling) 4 stations in a market will mean they will likely better differentiate the formats so you don’t have 2 stations sounding exactly the same.
If that’s the case they would in theory be able to keep KIIS 97.3, B105, 4MMM, River 94.9 and Hot 91. If I was them I would dump the Triple M brand in Brisbane and go back to FM104. Could explain why they didn’t rush to align River 94.9 with Pure Gold.
In reality they can either have a national capital city Triple M brand or a Pure Gold brand, but not both, as they’ll only have control of 3x FM’s in Brisbane, Adelaide and Perth.
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Yes, you’re spot on.
Due to the equity partner, ARN’s actual shareholding of SCA will be diluted to the point that it still sits beneath the 15% cap.
As an example: ARN presently owns 100% of its 14.9% SCA stake. However, if ARN were to represent 25% of this new entity and this entity were to own 60% of SCA, then - technically - ARN would only have a 15% stake in SCA.
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Glad I left SCA before they could do the same thing to me.
Feels like the whole place has been circling the drain for years.
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What implications will the full take over of SCA have on SCA’s tv assets?
I wonder if there will be a renewed interest in off selling these assets to someone like Paramount 10???
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Interesting times ahead I reckon, been watching my shares in SCA go downwards for some time now
In my view a bit of a sneaky way to overcome the ownership laws
In regards to staff been made redundant… I have known and seen a lot of great knowledgeable staff let go over the past few years and when this began I knew SCA would hit the shitter and this was not wrong by any stretch of the imagination, SCA ain’t the place it once was
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i doubt Paramount/10 would be interested in buying unless it’s going to be dirt cheap. And who else would be a potential buyer?
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