Time to shut down this speculation. It’s clear SCA won’t be taking any advice from us here at the MediaSpy forums, and if they do change their name as a company they’ll just change it to LiSTNR. Almost every time an ad break on Hit and Triple M goes to air, there’s a high chance that a LiSTNR ad will be heard.
As they’re going all-in on audio, their company name needs to reflect that too. So LiSTNR will be the way going forward. Using LiSTNR as a company brand is a way of SCA future-proofing themselves, instead of being seen as dinosaurs by using a heritage brand like Austereo. The Austereo brand was born in 1980, 45 years ago. No need to keep the Southern Cross Austereo name if you no longer have any TV stations, and also if you wish to get your listeners onto the LiSTNR app. Time to move forward. If SCA wants to survive, they’ll need to innovate, and fast.
From Radioinfo: SCA loses place on the All Ordinaries index
The All Ordinaries, run by S&P Dow Jones Indices LLC, they themselves a joint venture between S&P Global, the CME Group, and News Corp, is the index of the biggest 500 companies on the ASX.
The All Ords is reviewed every quarter, and this time Southern Cross Austereo (SCA) has dropped off the list, meaning they are no seen large enough to qualify.
Blair Woodcock (right) has been elevated to head of regional content and general manager of Gold Coast, while Nick Unger (left) steps into the role of head of sales for regional NSW and QLD.
Southern Cross Austereo has fought back against an attempt to sack four of its board members, shoring up support among its big investors.
SCA made an announcement on the ASX this morning, noting the attempt by activist investor Sandon Capital and stating the current board had the backing of major holders.
According to The Australian, chair Heith Mackay-Cruise received a letter from Sandon last Thursday, accusing the board of issuing dividends in order to win investor backing.
Sandon Capital stated their intention to move a resolution to sack four non‑executive directors – Chair Heith Mackay‑Cruise, Ido Leffler, Carole Campbell and Marina Go.
But SCA said in the ASX announcement the current board had the backing of more than 50% of investors.
UPDATE: Australian Financial Review’s Street Talk column had a similar article on Monday as well.
SCA republished SWM’s press release on its own website this morning, and also provided a separate trading update to the ASX following the sale of these TV stations.
SCA has applied the upfront cash of $3.75 million from the sale of the remaining TV assets to reducing debt. Net debt is about $68 million, down from $107.5 million a year ago.
The total consideration from the sale of SCA’s television assets is in the range of $19 to $24 million. This consideration includes both the SWM proceeds of $3.75 million and the previously announced profit share proceeds of $15 to $20 million from the sale of 3-Agg TV licences to Network Ten.
I posted the link to Mediaweek’s exclusive interview with Mel Greig in the Hit Network thread this morning, on her reaction on Michael’s lawsuit against SCA.
In the interim, Matthew OReilly will take on the expanded role of Head of Broadcast Content, reporting directly to John Kelly. The role will assume responsibility for Radio Content Leaders and he will continue to lead the Triple M Network.
In the interim, Matthew O’Reilly will take on the expanded role of head of broadcast content, as well as continuing to lead the Triple M Network. A new Triple M content director will be recruited for Adelaide to help free up some of O’Reilly’s time, with CEO John Kelly saying in a note to staff that internal candidates are encouraged to apply.
Cameron will also be available in an advisory capacity for Kelly and the content teams for “at least the next few months”, the note to staff said.
Let’s be honest, he’s done a pretty good job. SCA is in a much better position now that it was 5 years ago.
Triple M is rating well, B105, Mix are at or near the top and 2Day Fm is in the 5s rather than in the 2s and 3s as it was a decade ago.
SCA is also dominant when it comes to DAB share. They have produced some great content under his leadership, such as R&B Fridays, Triple M 70s, 80s and 2000s and OldSkool 80s. LiSTNR also has great content.
SCA has appointed Matt Dickson Western Australia commercial strategy leader.
Reporting to SCA’s head of commercial in WA, Megan Tuckey, he will drive commercial audio growth and revenue in the agency, direct and regional market.
Dickson joins SCA from Nine Entertainment, where he served as client solutions lead. He has also held senior roles at NOVA Entertainment and SCA, where he was national head of creativity - The Studio.
Southern Cross Austereo (SCA) and West Coast Radio have today announced a new strategic partnership to expand digital audio access and monetisation across Western Australia.
From September, West Coast Radio’s stations Coast FM and Wave FM will officially join the LiSTNR digital audio ecosystem, making both stations available to stream on LiSTNR for the first time.
