Australian Radio Network's (ARN) takeover bid for Southern Cross Media (SCA) was rejected.
Australian radio company ARN's alternative takeover bid for Southern Cross Media (SCA) was rejected; however, ARN remains open to exploring other options, including acquiring SCA's radio assets and a 100% share in combined digital audio assets. SCA's chairman cited concerns about the proposal's potential downside for SCA shareholders. ARN plans to share any significant developments with the market.
May 20, 2024
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