The most likely buyer for the listed media company’s 96 regional TV signals, Network Ten owner Paramount, says it doesn’t need them.
Network Ten won’t line up to buy Southern Cross Austereo’s network of 96 regional television signals, which have in effect been put on the market after a surprise takeover offer from rival ARN.
But Jarrod Villani, Paramount Australia and New Zealand chief operating and commercial officer, said it worked well for Ten to broadcast into regional areas without owning the signals themselves.“It’s not simply about, ‘do you want the asset or not’? It’s ‘does it make sense for you to own the asset’?” Mr Villani told. “At this stage, it’s not an asset that we think that we need to own.”
Anchorage would take the rest – eight metropolitan radio stations and 35 regional stations, as well as Southern Cross’s TV network. Most of that network is currently managed through an affiliation deal hosting Network Ten shows.Paramount and Southern Cross’s affiliation deal continues until December 31 this year, and negotiations on a new deal are “reasonably well advanced”, Mr Villani said. “Ultimately, it’s been a good partnership over the last couple of years. And we expect that to continue.
It reaches 3.36 million people a week in regional Queensland, NSW and Victoria, and also represents the Seven Network in Tasmania, Darwin and remote central and eastern Australia. Seven has previously said it would like to buy Tasmania, Darwin and remote central Australia.
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