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Southern Cross Media Group updates on agreement for sale of NNSW TV operations

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  1. May 19 (Reuters) - Southern Cross Media Group Ltd (SXL)

    • Executed agreements for sale of SCA's Northern NSW (nnsw) television assets and operations to win television network
    • SCA will use proceeds of sale to further reduce leverage and financing costs, while enhancing future balance sheet flexibility.
    • Estimated FY2018 EBITDA impact from disposal of group's nnsw Tv operations is $10m
    • Now expects FY2017 trading EBITDA will fall slightly below prior year's EBITDA of $168m
    Discuss this via SXL


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