The merger between Australia's biggest TV network and its largest radio station chain has taken less than six months to run into trouble.
Southern Cross Media Group announced on Thursday the television market it entered when it merged with Seven West Media in January had "deteriorated materially more than anticipated" in the June quarter.
As a result, the corporate owner of the Seven Network, Triple M, the Hit Network and the West Australian newspaper is slashing hundreds of jobs, downgrading its guidance and writing off millions of dollars from a burdensome television content contract.
