Southern Cross buys more DCL shares

21 March 2003 · News

Southern Cross Broadcasting has bought more shares in DCL (owners of 3AK and 3MP), increasing its holding to almost the maximum level permitted under the current cross-media ownership laws.

The share purchase cost Southern Cross $800,000, but prevents any other company from moving on the beleggured station.

Current board members and management of DCL took up the other shares in the rights issue.

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