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As of 1:59 AM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

southern cross media group l (SXL) Snapshot

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southern cross media group l (SXL) Details

Southern Cross Media Group Limited is engaged in the creation and broadcasting of content on free to air FM and digital commercial radio, TV, and online media platforms in Australia. The company’s radio networks deliver entertainment, music, sport, comedy, and big events; and TV stations offer various markets local news updates and community announcements. Southern Cross Media Group Limited owns 78 radio stations; and owns 19 regional free to air television licenses that cover 30 regional sub markets. It also owns approximately 85 Websites; and social media stations, as well as develops mobile applications and m-sites for its radio station brands. In addition, the company rents a transmission facility. It serves approximately 8.34 million radio and TV subscribers. The company was formerly known as Macquarie Media Group. Southern Cross Media Group Limited is based in South Melbourne, Australia.

southern cross media group l (SXL) Top Compensated Officers

Chief Executive Officer
Total Annual Compensation: A$1.2M
Chief Content Officer
Total Annual Compensation: A$633.5K
Head of Content
Total Annual Compensation: A$553.5K
Director of Digital Strategy & Innovation
Total Annual Compensation: A$421.5K
National Sales Director
Total Annual Compensation: A$340.5K
Compensation as of Fiscal Year 2014.

southern cross media group l (SXL) Key Developments

Southern Cross Media Group Limited Announces Board Changes

Southern Cross Media Group Limited announced the appointment of three non-executive, independent directors to the SCMG Board. The new directors, Mr. Robert Murray, formerly CEO of Lion Nathan and the Kirin/Lion Group in Australia, Ms. Kathy Gramp, formerly CFO of the Austereo Group and Mr. Glen Boreham, formerly CEO and MD of IBM Australia and New Zealand, will assume their roles with effect from 1 September 2014. It is intended that each of the new directors will stand for election as a director at the company's AGM on 21 October 2014. Following the resignations of Ms. Marina Darling and Mr. Tony Bell this year, and the advised intention of Mr. Michael Carapiet to step down at the 2014 AGM, the Board of SCMG took the opportunity to renew the composition of the Board. Non-executive director Michael Carapiet has announced his intention to resign from the SCMG Board effective from Tuesday 21 October 2014. The Chairman also advised that he intends to step down during the course of the 2015 Financial Year following selection and appointment of a successor.

Southern Cross Media Group Limited Reports Audited Earnings Results for the Year Ended June 30, 2014; Declares Final Dividend Payable on November 03, 2014

Southern Cross Media Group Limited reported audited earnings results for the full year to June 30, 2014. For the period, the company reported revenue from continuing operations of AUD 640.83 million against AUD 642.63 million reported last year. Profit before depreciation, amortization, interest, impairment, fair value movements on financial derivatives and income tax expenses for the year from continuing operations was at AUF 179.71 million against AUD 210.99 million reported last year. Loss before income tax expense for the year from continuing operations was at AUD 279.58 million against profit of AUD 133.27 million reported last year. Profit for the year attributable to shareholders was at a negative AUD 290.24 million against a profit of AUD 98.38 million reported last year. Diluted loss per share was at 41.98 cents against profit of 13.59 cents reported last year. The result was impacted by a number of significant items that primarily relate to the impairment of the Group's Regional assets, the resolution of the tax dispute and the refinancing of the debt facility in January 2014. Net debt for the borrowing group reduced further to AUD 594.4 million. Net cash inflows from operating activities was at AUD 158.96 million against AUD 153.24 million reported last year. The company declared an final dividend of 3.0 cents per share, the dividend is payable on November 03, 2014 with record date and ex-dividend date of September 29, 2014 and September 25, 2014.

Southern Cross Media Group Limited Appoints Nick McKechnie as Chief Financial Officer, Effective September 8, 2014

Southern Cross Media Group Limited announced the appointment of Nick McKechnie to the position of Chief Financial Officer. Nick will commence in the role on September 8, 2014. Nick previously held the position of Chief Financial Officer with ConnectEast since 2009 until recently and prior to that held various senior finance roles with Virgin Media PLC.


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