Australia's Southern Cross Media falls on lower FY earnings guidance, job cuts

Southern Cross Media

11/06/2026 02:26

** Shares of Southern Cross Media SXL.AX fall as much as 6.8% to A$0.55, their lowest level since March 18
** Media co sees 2026 underlying EBITDA of A$185 million ($129.44 million) to A$190 million, down from the previously forecast A$200 million to A$220 million
** Said it would cut 250 to 300 jobs by end-June, citing a weak advertising market
** Stock last down 4.2% at A$0.565
** On a YTD basis, SXL down 28.5%
     
     
($1 = 1.4292 Australian dollars)

(Reporting by Jasmeen Ara Shaikh in Bengaluru)
((Jasmeenaraislam.Shaikh@thomsonreuters.com;))