Company news: Southern Cross Media
Southern Cross Media released a statement after several news reports during the week disclosing that it has not received (or made) any merger proposal from Nine Entertainment, but that it (and its advisers) are continuing to review its "strategic options".
With the likely change in media ownership laws (they make no sense in today's internet driven world) Southern Cross is a highly strategic asset (for Nine particularly, but also others). In the meantime the business has picked up its performance (with a profit upgrade last month) and is still generating strong dividends. We will continue to watch that space with interest.