[HCDX] [Fwd: New National Commercial AM Network]

[Richard Jary <rjary@xxxxxxxxxx>]

    Spotted this on aus.radio.broadcast newsgroup...

Andrew Baudinette wrote:

> Did nobody see this....  snipped from the AGE. Today.
>
> SEH adds a voice to crowded  airwaves
>
>  By JANE SCHULZE
> Wednesday 31 January 2001
>
> Australia's radio industry is about to face yet another new competitor,
> with Adelaide-based group Southern Equity Holdings preparing to launch a
> national AM network.
>
>  However, its licences, bought in December from WorldAudio
> Communications, are not in the broadcasting services bands  and will
> consequently have a lower audience reach.
>
> But Southern Equity chairman James Hayward said an  independent study
> had found programs transmitted on the three frequencies allocated to
> Southern Equity could be heard by "77 per cent of households and 63 per
> cent of car radios    within our very large broadcast footprint".
>
> The frequencies are at 1611, 1620 and 1629 on the AM band.
>
> Mr Hayward said the listed company, which is suspended from trading
> while it seeks to raise $4.6 million to fund the launch, plans to start
> AM stations in Sydney and Melbourne before
>                    rolling out a national network.
>
>                    He said the formats were expected to be a mix of
> talk-back
>                    and music and were aimed at the 25-to-55-year-old
> market.
>
>                    However, Tony Bell, the chief executive of 3AW's
> owner,
>                    Southern Cross Broadcasting, said the Melbourne
> station
>                    would not represent any threat to 3AW or its sister
> station
>                    Magic 693.
>
>                    "If you are outside that (broadcasting services) band
> you may
>                    not even be able to be picked up on all radios," he
> said.
>
>                    "I'm sure there are radios around that can (pick up
> the signal)
>                    but not enough, in my opinion, to be of any value at
> all."
>
>                    Southern Equity is seeking to raise the funds by
> issuing 20
>                    million ordinary shares at 20 cents each and 57.9
> million
>                    options at one cent a piece. Southern Equity's shares
> were
>                    suspended last Wednesday, at when they were worth 15
>                    cents each.
>
>                    The prospectus has not forecast profits or losses,
> but Mr
>                    Hayward said $8.5 million was being spent on network
>                    infrastructure, transmission equipment and licences.
>
>                    Southern Equity, which has operated as an investment
>                    company, plans to operate more than 30 stations
> across
>                    Australia in regional and capital city markets.
>
>                    "The network will have access to a free-to-air
> audience of
>                    approximately 10 million Australians," Mr Hayward
> said.
>
>                    Southern Equity's move comes as another company, DMG
>                    Radio Australia, prepares to launch its first FM
> metropolitan
>                    station in Sydney.
>
>                    Applications for Southern Equity's new shares close
> on
>                    February 22.

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