Macquarie Media Group & Fairfax Media Acquires Assets of Southern Cross Broadcasting
A big acquisition today. Although it isn’t specifically online related, I thought I would at least comment on it, as there is a few online properties involved in the deal and mention of Fairfax’ online classifieds.
This deal has been in the making for some time now. I was expecting some news of a big announcement a month or two ago so it has obviously taken a while for the details to be hammered out.
After MMG completed the acquisition of all Southern Cross Broadcasting’s assets, Fairfax media will pick up Southern Cross Radio, Southern Star, Satellite Music Australia and associated business. MMG will pick up Southern Cross TV.
Fairfax will also acquire the digital media business of Southern Cross, namely:
- www.mytalk.com.au, a portal for content relating to Southern Cross’ media businesses, and
- www.youplay.com, an online gaming (no betting) site
Both of these sites probably don’t hold much strategic importance for Fairfax in the deal, but with user generated content being the flavour of the day/month/year for media businesses, mytalk could be grown substantially.
I was interested in seeing whether their announcement would be related to acquisition of online media groups (hey, thats where I play!), but the acquisition of Southern Cross Broadcasting is still pretty big news.
Fairfax do make a statement regarding their intended use of the Brisbane and Perth radio networks on grow their online classifieds businesses.
Full press release is located here : Macquarie Media Group & Fairfax Media Acquires Assets of Southern Cross Broadcasting
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