Southern Cross Media Group
Southern Cross Media Group (formerly Macquarie Media Group) is one of Australia's major media companies, as the parent company of Southern Cross Austereo. Its headquarters are in South Melbourne. History. On 3 July 2007 Southern Cross Broadcasting recommended Macquarie Media Group's offer of A$1.35 billion, for a takeover of the corporation. Under the deal, Macquarie Media Group would then onsell the metropolitan radio stations to Fairfax Media. On 5 November 2007, the company officially acquired Southern Cross Broadcasting's assets. On 17 December 2009 shareholders approved a restructuring plan. The company was then  renamed from Macquarie Media Group to its current name on 17 December 2009. In March 2016, Macquarie Group sold a 15.7% stake in Southern Cross Media worth $130 million, and of that 9.9% was purchased by Nine Entertainment, the owner of the Nine Network. Nine sold this stake in the business six months later.