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SXL - Southern Cross Media Group

Discussion in 'Stocks Q-Z' started by Joe Blow, Jun 2, 2010.

  1. Joe Blow

    Joe Blow Administrator

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    Southern Cross Media Group Limited (SXL) invests in media and owns two major assets: Macquarie Southern Cross Media - Radio and Television and a number of American local newspapers through 100% ownership of American Consolidated Media (ACM). MMG's investment mandate is wide, requiring investments to be media assets with stable earnings and cash flow, strong market positions, barriers to entry and potential for further earnings improvement. MMG is externally managed by MMML for a Base and Performance fee.

    http://www.scmediagroup.com.au
     
  2. notting

    notting Well-Known Member

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    Another undervalued media stock reporting well today up over %6.
    Fully franked 10% dividend.
    Revenue from ordinary activities was $492.8 million in the year to June, up 21 per cent from the previous year.
    Final dividend of three cents per share was declared, taking the full year pay out to 10 cents, up from 9.7.
    Tiss the Season to be Jolly tralalalala Lalala la.
    All we need now is for the Christmas carols to start playing.
     
  3. notting

    notting Well-Known Member

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    Long time no play but in hard short today.
    It ran up from 1.60 to 1.68 ish due to nine rumblings. Wrong way.
    Basically ran up from a dollar on speculation nine would buy it.
    Nine bought a 10% stake and joined up some media contracts.
    Nine just dumped that 10% stake at $1.55 plenty of down space to a $1.
     
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