Southern Cross Media (ASX:SXL) results: Revenue drops
Southern Cross Media reported a $13.1 million full-year loss, citing deteriorating market conditions and legacy contract writedowns. Despite a revenue increase following its merger with Seven West, the company's underlying revenue contracted by 4.5%.
Why it matters
The financial struggle of a major media conglomerate highlights broader challenges in the traditional television and radio advertising market.
— 10:27am , first published August 11, 2026 — 8:38am
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Share A A A Southern Cross Media, the business created from the merger of Kerry Stokes’ Seven West and radio group Southern Cross, attributed its $13 million full-year loss reported on Tuesday to deteriorating market conditions, not pricey sports broadcast rights such as its share of a $4.5 billion AFL deal.
Earlier this year, Southern Cross wrote down the value of legacy TV content contracts by $70 million, an admission that these deals were not delivering the commercial benefits expected.
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