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Southern Cross floated oOh!media merger idea

The discussion of a nil-premium merger, while it did not progress, illustrates the hunger for deals in the outdoor advertising sector.

oOh!media and Southern Cross Austereo held exploratory talks about merging the outdoor advertising business with the radio network and regional television company.

Sources with an understanding of the conversations said Southern Cross had brokered the idea of a nil-premium merger with oOh!media, to put together a business which would include the likes of The Hit Network and Triple M with a robust out-of-home advertising portfolio, including large billboards and street furniture.

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Max Mason covers insolvency, courts, financial crime, cybercrime and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
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    Original URL: https://www.afr.com/companies/media-and-marketing/southern-cross-floated-ooh-media-merger-idea-20191208-p53hvp