Company news: Southern Cross
Southern Cross Media, in which you have a small holding, announced that it has entered into a deal with Channel Nine to broadcast its programs on its regional TV network. This largely replaces the previous relationship it had with Channel 10. Due to Channel Nine being much stronger than Channel 10 it is believed Southern Cross will pay them 50% of advertising revenue for its content, this compares to ~33% for Channel 10.
Whilst this is a much larger share than before, given the much larger revenue stream that is expected it should result in a positive increase in earnings for Southern Cross in the FY-17 year and beyond (it is a five year deal).