The rationalisation of Australia’s commercial television continues with Southern Cross Austereo (SCA) announcing that it has signed an agreement for the sale of its regional TV outlets in Regional Victoria, Southern NSW/ACT and Regional Queensland to Network Ten.

The outlets are existing affiliates to Ten, relaying the existing Network Ten suite of channels and programs interspersed with local news updates for each region.

SCA said that “completion of the sale is subject to execution of final transaction documentation by the parties and SCA’s broadcast transmission, distribution and playout service providers, and satisfaction of customary conditions including receipt of foreign investment approval,” with the sale expected to be completed by February 2025.

SCA advises that it continues to be in active negotiations with other parties regarding the sale of its other television assets in Tasmania, Spencer Gulf/Broken Hill, Darwin, Remote Central and Eastern Australia (including the Viewer Access Satellite Television service).

SCA intends to apply the proceeds of the sale of its television assets towards reducing its net debt.

Source: SCA