• SCA signs binding proposal to sell TV assets in Tasmania, Spencer Gulf, Broken Hill, Mt Isa, Darwin and Remote, Central and Eastern Australia to ADH
• Total sale proceeds of $6.35 million, with $3.75 million upfront cash and $2.6 million through transitional service arrangements
• Estimated total consideration from sale of all TV assets in range of $19 million - $24 million

Southern Cross Media Group Limited (SCA) has announced that it has signed a binding proposal for the sale of its television assets in Tasmania, Spencer Gulf, Broken Hill, Mt Isa, Darwin and Remote, Central and Eastern Australia to Australian Digital Holdings Pty Ltd ('ADH'). Completion of the sale is subject to negotiation and execution of final transaction documentation by the parties and SCA's broadcast transmission, distribution and playout service providers, and satisfaction of customary conditions. The parties aim to complete the transaction in the coming weeks. The completion of this sale will result in SCA having fully divested of its television assets. The overall proceeds to be received by SCA is $6.35 million, of which $3.75 million constitutes upfront cash consideration and $2.6 million will be received through the provision of transitional service arrangements. SCA intends to apply up front cash consideration from the sale of its television assets towards reducing net debt. The estimated consideration from the sale of all of SCA's television assets is in the range of $19 million - $24 million. On a proforma forecasted FY25 EBITDA basis, the consideration represents a multiple range of approximately 4-5 times.