Southern Cross Media Group Limited

( ASX:SXL ) - ASX200 Media & Entertainment


Southern Cross Best In Bad Media Class

Southern Cross Austereo probably wins the prize for best in class in the ASX’s struggling media sector. It and Fairfax reported fairly solid net profits for the year to June 30, unlike rivals such as Nine Entertainment (see separate story) with a impairment driven loss, Seven West Media (ditto), and losses for News Corp (impairment again) and Foxtel a lower net income and losses on the Ten investment and Presto streaming service that was closed in the year.

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