Southern Cross Austereo's parent firm has insisted it has not committed to do a deal with Nine Entertainment as reported in the national press over the weekend.
Southern Cross Media Group Limited issued a statement this morning following speculation that a $4bn merger may be imminent should a relaxation of the 75 per cent rule be passed by parliament over the next few weeks.
Southern Cross Media's deal with TEN expires mid-year. As such SCA acknowledged "there may be speculation regarding the strategic direction of the company in that context".
While "reviewing a number of strategic options. The board has not, at this stage, formed a view as to any preferred option", said the company in a statement.
Given that the move is prohibited without changes to legislation, the firm said it did not intend to comment further on market speculation bout would "make further announcements as and when appropriate".
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