SCA announces changes to Canberra broadcast playout

Company News

by Anna Napoli

Southern Cross Media Group (ASX:SXL) has today announced it will transfer its Canberra broadcast playout operation to NPC media from 2020.

NPC is a joint venture between the Nine and Seven Networks.

The decision comes after SCA sold its Canberra site in 2016 with a four-year lease back,.

2020 also marks the end of the capital expenditure lifecycle for the company's current playout equipment.

SCA says given it already broadcasts Nine and Seven programs and uses their brands, the move is a logical step to consolidate back office functions.

The media company will lease a new office facility in Canberra to house employees unaffected by the change.

Shares in Company Name Limited (ASX:SXL) are trading 0.38 per cent lower to $1.29.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.