Media reports suggest talks are underway between Southern Cross Media Group and Paramount Global-owned Network 10, for the latter to acquire the television assets of the former.
Merger talks were underway between Southern Cross Media Group and radio broadcaster ARN Media earlier this year before Anchorage Capital Partners withdrew from the deal.
The Australian now reports when Anchorage first bid for Southern Cross Media in October with ARN, the forecast for regional television revenue decline was in the single digits – since then it has moved to be in the double digits.
But market watchers expect any deal struck would be at a nominal sum.
There is speculation Paramount may feel forced to move with threats Southern Cross Media Group will cut its affiliation agreement all together.
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