Southern Cross Media chairman Peter Bush says that any informal discussions about a potential takeover by Nine Entertainment Co have taken place at a management rather than a board or chairman level and that no offer, either informal or formal, has been received from Nine.

Exploratory takeover talks about a potential takeover of the regional TV and radio company by Nine, which owns the second-placed metropolitan TV network, have hit a stalemate in the past fortnight as the share price of Southern Cross has spiked. David Gyngell's departure as Nine CEO has provided a further distraction.