Anchorage: Southern Cross Media frustrated as Anchorage pulls out of $250m takeover bid with ARN Media

Deteriorating conditions for the regional television market has scared off private equity group Anchorage Capital Partners which has withdrawn from its $250 million joint takeover proposal with ARN Media Limited (ASX: A1N) for Southern Cross Media Group (ASX: SXL). While Southern Cross Media is frustrated by the last-minute ditching of the deal...