Divorced at Second Sight; Southern Cross to Sell Northern New South Wales Television After All
No-moat-rated Southern Cross Media has finally managed to offload its Northern New South Wales, or NNSW, regional television unit to privately owned WIN Corporation. The agreed sale price of AUD 55 million is at the upper end of our estimate range published on Jan. 31. While the transaction is still subject to certain conditions, its eventual completion will have an immaterial impact on our AUD 1.20 fair value estimate, as we calculate the EPS dilution to be just 4% based on our fiscal 2018 fore...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.
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