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.