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Report: Nine, Southern Cross in talks

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Nine Entertainment Co and Southern Cross Austereo have reportedly explored negotiations that would sidestep current media ownership laws which prohibit access to more than 75% of the population in any single market.

The Australian reports Nine would buy Southern Cross’s coveted metropolitan radio assets and park its remaining regional assets in a holding entity.

The speculation follows Hugh Marks becoming CEO of Nine earlier this week. He owns talent agency RGM with Southern Cross boss and former TEN CEO, Grant Blackley.

“This is a 50-50 chance,” a party to the deal told the newspaper.

Any talks would also be held outside Nines current affiliate partner, WIN Corporation.

Meanwhile Fairfax suggests, if Nine was to acquire Southern Cross Bruce Gordon’s WIN would be left to partner with TEN.

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