A cratering regional advertising market, the closure of a TV station in Mildura, and Network Ten pulling the pin on The Bachelor contributed to Anchorage Capital Partners’ decision to pull out of a $250 million deal to reshape the Australian radio market.
Seven months after it was first announced, as first reported by The Australian Financial Review on Sunday morning, Anchorage withdrew from a deal with ARN Media to acquire its ASX-listed Southern Cross Austereo.
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Sam Buckingham-Jones is the media and marketing reporter at The Australian Financial Review. Connect with Sam on Twitter.
