SXL: Extension of Seven Affiliation Agreement

EXTENSION OF AFFILIATION AGREEMENT BETWEEN SEVEN WEST MEDIA AND SOUTHERN CROSS AUSTEREO

Seven West Media Limited (Seven) (ASX:SWM) and Southern Cross Austereo (SCA) (ASX:SXL) have today announced an extension of their regional television affiliation agreement for Tasmania, Darwin, Spencer Gulf, Broken Hill, Central & Eastern Australia and Mt Isa. The agreement will see SCA continue to broadcast Seven's metropolitan free-to-air television content in its existing zones from 1 July 2018 for three years with an option for each party to extend for a further fourth year.

SCA in those licenced areas will broadcast Seven's premium Australian and international content including My Kitchen Rules, House Rules, The Good Doctor and Fox product (including Modern Family and The Simpsons), as well as AFL. SCA will continue to produce its daily leading local news bulletin and this is reflected in the affiliation agreement.

SCA will pay Seven an affiliation fee of 50 per cent of its television revenue.

Tim Worner, CEO of Seven, said "This is a great outcome for Seven and SCA. We are confident that, together, we will continue our very successful and long standing relationship and offer a premium viewing experience for audiences and a unique platform for advertisers".

Welcoming the extension of the agreement, Grant Blackley, CEO of SCA, said "I'm excited SCA is continuing its long term agreement with Seven. Our partnership enables us to deliver a strong line-up of programming, particularly in Tasmania where we enjoy almost 60% of audience share."

Southern Cross Austereo comprises Southern Cross Media Group Limited and its subsidiaries.