Shares in Southern Cross Media Ltd are trading lower after the company announced earnings would fall and confirmed massive staff cuts.

Australia

Who

Southern Cross Media Ltd, Gina Rinehart, Rohan Lund

What

When

Thu, 11 Jun 2026 00:43:25 GMT · 1h 53m ago

Where

Australia ·

Why

Southern Cross Media is facing a difficult trading environment and a challenging advertising market, particularly in television, softer than expected in the fourth quarter.

The Frontline Impact

How this affects you

Southern Cross Media expects a significant reduction in its FY26 revenue and EBITDA, leading to a cost reduction program that includes 250 to 300 staff departures and a $20 million restructuring charge. This indicates a challenging outlook for the Australian media sector.

Story chain

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Verified Sources & Citations

The Motley Fool Australia
https://www.fool.com.au/2026/06/11/why-are-shares-in-this-gina-rinehart-backed-asx-media-company-falling/
HIGH

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