Regional radio and television operator Southern Cross Media Group (SCA) says advertising bookings have improved but the company is still eligible for continued support under the extended JobKeeper program.
The eligibility test, requiring revenues to be more than 30% down compared to the same period last year, was met in the September quarter.
SCA expects to receive about $12 million in JobKeeper support payments to offset employee costs from September 28 to January 3.
"Advertising bookings for the December quarter are stronger and the gradual easing of COVID-19 restrictions in Victoria will further aid recovery," the company says in a statement to the ASX.
"Accordingly, SCA expects it will not be eligible for JobKeeper support beyond January 3."
The company says its balance sheet has continued to strengthen with net debt at $93 million, a reduction of $39 million since June.
In August, SCA reported full year underlying net profit after tax at $35.8 million, down 51%.
The company then said the impact of COVID-19 was mitigated by the geographic diversity of company’s radio portfolio comprising 10 commercial stations in metro markets and 78 in regional markets.
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