Morningstar | Evolution of Southern Cross Media into Radio-Centric Group Continues
An investment in Southern Cross Media requires weighing the solid positioning of its radio and regional TV operations against the structural challenges facing these industries from proliferating competition for viewers and advertising dollars. However, the group boasts undisputed market leadership in the structurally-resilient radio industry and a portfolio of affiliate regional TV stations leveraged to the resurgent ratings of Nine Network. Further, thanks to aggressive deleveraging efforts, the balance sheet is now in strong shape, with its annualised net debt/EBITDA ratio currently at 1.8 times, comfortably below the 3.50 times covenant limit.Southern Cross Media Group is engaged in the creation and broadcasting of content on free-to-air commercial radio (AM, FM and digital), television and online media platforms across Australia.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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