Market Chatter: Southern Cross Media 4.2% Stake Said to Be Subject of Cross Trade, AFR Says

MT Newswires Live05-20 13:04

Aitken Mount reportedly cross-traded a 4.2% stake in Southern Cross Media Group's (ASX:SXL) shares on issue on Wednesday, consisting of 20 million shares in the firm at AU$0.56 per share, with former Seven Network commercial director Bruce McWilliam speculated to be the buyer and Spheria Asset Management the seller, the Australian Financial Review (AFR) reported on the same day.

If McWilliam is confirmed as the buyer, it will increase his Southern Cross stake to 9.5%, making him the company's top three shareholders.

McWilliam could not be reached for comment, per the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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