KIIS and take over
Tune your dial to intrigued as the mega radio company ARN launches a $330 million takeover bid of rival Southern Cross. ARN is the company behind Kyle and Jackie O’s station KIIS in Sydney and Gold in Melbourne, while Southern Cross has always been the home of 2Day, TripleM and Hamish & Andy… In the last couple of years, Southern Cross has not had a great run as far as investors are concerned, but there is some head-scratching from the market since Aussie laws limit the number of broadcasting licences that can be operated by one company in any one market… Analysts say there are many ways to structure the deal to get around that, and ARN’s bid mentions combining “digital audio assets”. Note: Southern Cross has the LiSTNR podcast network as both companies lean into podcasting as the future of audio (and have we told you that we’re good at podcasting? Good-o, just checking…)
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