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BRIEF-Southern Cross Media Group updates on agreement for sale of NNSW TV operations
May 19, 2017 / 10:19 AM / 4 months ago

BRIEF-Southern Cross Media Group updates on agreement for sale of NNSW TV operations

May 19 (Reuters) - Southern Cross Media Group Ltd

* Executed agreements for sale of SCA’s Northern NSW (nnsw) television assets and operations to win television network

* SCA will use proceeds of sale to further reduce leverage and financing costs, while enhancing future balance sheet flexibility.

* Estimated FY2018 EBITDA impact from disposal of group’s nnsw Tv operations is $10m

* Now expects FY2017 trading EBITDA will fall slightly below prior year’s EBITDA of $168m Source text for Eikon: Further company coverage:

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