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Why the Southern Cross Media (ASX:SXL) share price is tumbling 14%
Brooke Cooper | March 12, 2021 11:39am |
More on: Image source: Getty Images
Southern Cross Media Group Ltd(ASX: SXL) shares are plummeting this morning after news broke that the company’s agreement with
Nine Entertainment Co. Holdings Ltd(ASX: NEC) will not be continued. At the time of writing, the company’s shares have tumbled 13.57% to $1.91.
Let’s take a closer look at what was announced.
What happened?
The Southern Cross share price is taking a dive today after the company (also known as Southern Cross Austereo) stated it has been advised Nine will not be extending its regional affiliation with the broadcasting company after it expires in June.
Is Nine Entertainment (ASX:NEC) eyeing up regional broadcaster WIN?
Marc Sidarous | March 10, 2021 4:34pm |
More on:
The
Nine Entertainment Co Holdings Ltd(ASX: NEC) share price was relatively unmoved today after speculation emerged the company may purchase the WIN Corporation.
After edging slightly higher throughout the day, the Nine share price closed flat at $3.00 per share. In contrast, the
Let’s take a closer look.
Nine wants a WIN
The Australian is reporting Nine Entertainment is in talks with WIN chair Bruce Gordon about absorbing his business into Australia’s largest publicly listed media company. WIN Corporation owns the WIN regional television network, Crawford publications, and several local radio stations.