MMG has been renamed Southern Cross Media Group (SCMG). This followed SCMG security holders voting overwhelmingly in favour of the Internalisation and Corporatisation proposals on 17 December 2009.
These initiatives, along with the recapitalisation of SCMG including the reduction of debt at Southern Cross Media (which completed on 3 December 2009), were designed to enhance security holder value, optimise the capital and corporate structure of SCMG and reposition Australia’s leading regional radio and television operator for the future.
The Internalisation completed on 10 March 2010 and the Corporatisation completed on 18 March 2010.
SCMG’s new web site is scmediagroup.com.au.