Nine Entertainment Company (ASX:NEC)
and Southern Cross Austereo (ASX:SXL)
have signed a five year regional television affiliation agreement.
The deal will see Southern Cross broadcast Nine’s premium Australian and international content across its metropolitan and regional network.
Southern Cross will pay Nine an affiliation fee of 50 per cent of its television revenue.
The arrangement will also allow Nine to leverage the Southern Cross national sales services for its Northern NSW and Darwin channels.
At 31st of December Nine Entertainment reported a net profit of $320.84 million