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BRIEF-Southern Cross Media Group updates on agreement for sale of NNSW TV operations

Published 19/05/2017, 08:17 pm
© Reuters.  BRIEF-Southern Cross Media Group updates on agreement for sale of NNSW TV operations
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May 19 (Reuters) - Southern Cross Media Group Ltd SXL.AX

* Executed agreements for sale of SCA's Northern NSW (nnsw) television assets and operations to win television network

* SCA will use proceeds of sale to further reduce leverage and financing costs, while enhancing future balance sheet flexibility.

* Estimated FY2018 EBITDA impact from disposal of group's nnsw Tv operations is $10m

* Now expects FY2017 trading EBITDA will fall slightly below prior year's EBITDA of $168m Source text for Eikon: Further company coverage: SXL.AX

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