Southern Cross Media drops over 6% after lowering FY26 forecast, unveiling job cuts
11/06/2026 01:18
Southern Cross Media drops over 6% after lowering FY26 forecast, unveiling job cuts June 11 (Reuters) - Australia's Southern Cross Media Group SXL.AX said on Thursday it would cut 250 to 300 jobs by the end of June while lowering fiscal 2026 forecast, as a worsening advertising market weighed on its television business, sending shares down more than 6%.
The media company said it now expects underlying 2026 earnings before interest, taxes, depreciation, and amortization (EBITDA) of A$185 million to A$190 million ($129.41 million to $132.91 million), down from its previous forecast of A$200 million to A$220 million.
($1 = 1.4296 Australian dollars)
(Reporting by Roshan Thomas in Bengaluru; Editing by Subhranshu Sahu)
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