Australia's Southern Cross jumps as ARN Media acquires equity interest

ARN Media

20/06/2023 04:43

** Shares of Southern Cross Media Group Ltd  SXL.AX  jump as
much as 29.6% to A$0.985, on track for best day since May 27,
2020, if gains hold
    ** SXL says ARN Media Ltd  A1N.AX  has acquired an interest
of 14.8% in the co for A$38.3 mln ($26.05 mln)
    ** Southern Cross stock hits highest since March 9
    ** More than 4.8 mln shares change hands, 10 times the
30-day average volume 
    ** Stock down 28.6% this year, as of last close

     ($1 = 1.4704 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))