Company news: Southern Cross Media, TZ Limited
Southern Cross Media released a trading update. Regional TV markets continue to be challenged, and have declined in recent months. Additionally, metro radio markets have declined 2.2% from Jan-17 to Apr-17 and are trading flat FYTD. Consequently, EBITDA is guided to be slightly below FY-16's result of $168m. Prior to this announcement, an EBITDA of around $177m was expected.
TZ Limited received a new strategic order for its smart locks. The $3m order is for locker management in the new headquarters of a major US technology company.