Southern Cross Media’s $13M Loss and Big Moves | Sydney News

Southern Cross Media’s latest financial report reveals a $13 million loss, driven by tough market headwinds across TV, radio, and print — plus hefty write-downs on underperforming TV deals. Despite the red ink, CEO Rohan Lund highlights a more than doubled revenue to $1.1 billion and a massive 20 million monthly audience reach. All three core divisions — TV, audio, and publishing — saw improved positions, though TV ad sales remain shaky. The company is slashing costs by up to $150 million annually, including cutting 250–300 jobs mostly from TV. Looking ahead, advertising remains sluggish, with audio showing slight growth and publishing stable. A major twist? Gina Rinehart, Australia’s richest person, has invested a significant stake — sparking buzz about what’s next for this media giant. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/de39cfde285c7098