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Nick Bolton attempts to thwart Southern Cross takeover

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Activist investor Nick Bolton will attempt to thwart a tie-up between radio giants Southern Cross Austereo and ARN over claims the latter inadvertently breached the Corporations Act when it bought a stake in its rival.

ARN, which owns the KIIS and Pure Gold radio networks, and private equity firm Anchorage Capital Partners, announced a surprise offer to acquire the radio and TV network last week.

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Zoe Samios covers wagering and the business of sport from the AFR's Sydney newsroom. She was previously the media and telecommunications reporter for The Sydney Morning Herald and The Age, and covered media at The Australian. Connect with Zoe on Twitter. Email Zoe at zoe.samios@afr.com
Sam Buckingham-Jones is the media and marketing reporter at The Australian Financial Review. Connect with Sam on Twitter.

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    Original URL: https://www.afr.com/companies/media-and-marketing/nick-bolton-attempts-to-thwart-southern-cross-takeover-20231025-p5eev6