Company news: Southern Cross Media
Southern Cross Media held its Annual General Meeting this week. The company affirmed its guidance for the first half of FY-17 for EBITDA (earnings before interest, tax, depreciation and amortisation) of $92-$94m.
In relation to first quarter trading, all divisions saw increased revenue, with good performance from both the metro and regional radio businesses. Southern Cross started new regional TV affiliate agreements (with Channel 10) on 1-Jul-16, which will see strong revenue growth (but moderated at the bottom line by lower margins).