Tasmania’s 7 Tasmania television station will change hands as part of a national multi-million dollar deal.
The $6.35 million sale will see current owner Southern Cross Austereo (SCA) exit the television market to focus on its audio and digital business.
Australian Digital Holdings (ADH) has acquired the broadcaster, along with regional stations in Darwin, Spencer Gulf, Broken Hill, Mt Isa and remote Central and Eastern Australia.
7 Tasmania and its locally produced 6pm daily Nightly News bulletin will now become part of ADH’s media portfolio.
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The future of its local news operations remains uncertain at this time.
ADH previously confirmed it was preparing to launch the American news channel Newsmax in Australia later this year.
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Reports indicate that the acquisition was led by a consortium including ADH Chief Executive Officer Jack Bulfin, former 7 News Director Jason Morrison and ex-ABC Chairman Maurice Newman.
In a statement, SCA confirmed that the deal is expected to be finalised in the coming weeks.
“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 agreements,” SCA said.
7 Tasmania was last sold as TNT9 to Tricom Corporation for $40 million in 1988. Tricom went on to be Southern Cross Broadcasting and what is now Southern Cross Austereo.
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