Departing Southern Cross Austereo boss Grant Blackley plans to works overseas

Grant Blackley has spent nearly two decades leading Australian media companies, but he is now looking overseas for his next opportunity.

Departing Southern Cross Austereo CEO Grant Blackley: ‘I’ve had a burning desire and aspiration to work overseas.’ Picture: AAP

Southern Cross Media Group chief executive Grant Blackley has led media companies for nearly two decades but he says his career is far from over, after announcing his exit last week.

The 56-year-old says the timing for his departure was right, particularly after the media company engaged the services of consulting firm Korn Ferry last year to find replacements at Southern Cross Austereo including a new CEO.

“We have been through a tumultuous time with Covid and we have performed a whole range of things, the debt levels have come into a highly manageable area,” he said.

“When I joined the company we had $648m of debt; one of my first jobs was to stabilise the debt and today we sit at a debt level of around $100m.

“We’ve just completed a five-year digitisation program and have fully digitised our entire workplace and structure; we have 60 offices and 300 studios that are completely connected and can talk to each other..”

Mr Blackley – who officially leaves the business on June 30 – has booked a three-month European holiday with his family for later this year. He bought a home in Barcelona 18 months ago, which he said was all “part of the plan”.

“After 38 years in the media and entertainment sector, 18 of those as a CEO, hopefully I’ve earned the right for a holiday and I’ve had a burning desire and aspiration to work overseas,” he said.

“My preference has been to work somewhere overseas and the most logical markets are in the UK or the US.”

Mr Blackley has agreed to a contractual post-employment restraint of nine months, although these arrangements typically only apply to employment within Australia.

In the six months to June 30, SCA will have experienced a significant overhaul of its leadership team – Mr Blackley’s replacement will be the company’s chief operating officer John Kelly, while Tim Young was recently appointed chief financial officer and Seb Rennie was hired into the new role of executive head of LiSTNR (commercial). In the past six months, Mr Blackley has also stepped down from chair of industry body Commercial Radio & Audio, and departed the Australian Association of National ­Advertisers as board director.

The company’s share price has taken a tumble during his reign, falling from $1.66 12 months ago to 80c at Friday’s close, but Mr Blackley said the company “is stronger and fitter operationally than it’s ever been”.

“We are completely digitally enabled and even critics will say that is an advantage for shareholders in the future,” he said.

“Shareholders want to know that you are future-proofing the company, if we didn’t do that they would become critical in their own right.”

SCA spends $15m annually on LiSTNR and it has grown to have more than 1.3 million signed-in users, with 100 radio stations, 20 music-only stations, digital rights for the AFL, NRL and Cricket Australia, and more than 200 weekly podcasts.