Anchorage Capital Parts withdraws from ARN Media's takeover of Southern Cross Austereo, likely ending the radio market reshaping deal.
Anchorage Capital Partners has withdrawn from ARN Media's proposed takeover of Southern Cross Austereo, likely ending the deal aimed at reshaping the radio market. ARN and SCA may not finalize their merger in time before the Australian financial year ends, making financial strategies challenging for both parties. The proposed plan included redistributing existing station networks between ARN and Anchorage to avoid falling foul of the two-stations-per-market rule.
11 months ago
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