Southern Cross Media Chairman steps down amid takeover talks
By Pragadish Kirubakaran in Media News on Thursday, 28th March 2024 at 4:02pmRob Murray, the chairman of Southern Cross Media Group (SCA), has retired six months earlier than expected amidst the company's ongoing takeover discussions with ARN Media. Although the SCA board will not appoint new directors this financial year it has already named Heath Mackay-Cruise as Murray's successor, The Australian reported.
The departure comes as SCA re-engages with ARN Media and Anchorage Capital Partners to evaluate a revised takeover offer. Murray, who has been with SCA since 2014 and served as chairman since 2020, decided to retire early to avoid the distractions of a potential extraordinary general meeting called by a shareholder.
"I am hopeful this will help avoid the distraction and unnecessary time, cost and resources that would be required by the recent call by one of...
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