Insights

Why the Southern Cross Media (ASX: SXL) share price is up 5% today

Southern Cross Media will be adding some of your favourite TV shows to its broadcasting regions.
The post Why the Southern Cross Media (ASX: SXL) share price is up 5% today appeared first on The Motley Fool Australia. –

The Southern Cross Media Group Ltd (ASX: SXL) share price is up 5.53% today to $2.12 after the company announced an agreement with Network 10.

Southern Cross Media share price higher on broadcast agreement

Southern Cross Media announced a new regional television affiliation agreement to broadcast channels 10, 10 Bold, 10 Peach and 10 Shake into its regional Queensland, Southern NSW and regional Victoria markets.

The new agreement will begin 1 July 2021 for a term of two years.

The arrangement will broadcast Network 10’s highly successful television programs including MasterChef Australia, Australian Survivor, The Bachelor Australia, The Masked Singer, The Project, live ALeague, Westfield W-League, as well as Socceroos, Matildas and FFA Cup matches.

Southern Cross Media says its sales team have a track record of converting ratings to revenue and look forward to generating strong commercial returns for both parties.

Television revenue update

Southern Cross Media advises that its television revenue booked to date for Q122 is in line with its internal forecasts and ahead of its prior year performance.

An improvement in year-on-year television revenue has been led by a recovery in the national advertising market and improving local investment across all regions.

Southern Cross Media said that this agreement will enable it to optimise the strategic and commercial position of its television business in the evolving free-to-air television market.

The company said it expects television earnings under the Network 10 affiliation to be neutral, compared to the current Nine affiliation, which is expected to expire on 30 June 2021.

Southern Cross Media share price in 2021

It’s been a choppy year for the Southern Media share price.

A key catalyst for its underperformance was on 12 March, when Nine Entertainment Co Holdings Ltd (ASX: NEC) said it would not extend its regional affiliation agreement. The company’s shares tanked ~10.4% on the day from $2.21 to $1.98.

The 6% rally today to $2.11 in intraday trade has helped push the Southern Cross Media share price to a 4-month high, but it is still down about 2.30% year-to-date.

The post Why the Southern Cross Media (ASX: SXL) share price is up 5% today appeared first on The Motley Fool Australia.

Should you invest $1,000 in Southern Cross Media right now?

Before you consider Southern Cross Media, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Southern Cross Media wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of May 24th 2021

More reading

The Brickworks (ASX:BKW) share price hits a new 52-week high
The Endeavour (ASX:EDV) share price is shooting 8% higher today
ASX 200 up 0.3%: CSL downgraded, Zip drops, Charter Hall impresses

Is A2 Milk (ASX:A2M) now an ASX value share?
Why Charter Hall, Collins Foods, Endeavour Group, & Telix are pushing higher

Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!