Southern Cross Austereo is banking on its digital audio strategy to pay off in the long run, as the company’s newly minted CEO John Kelly perseveres with the turnaround of one of Australia’s best known media companies.

Kelly has had a baptism of fire as he fronted his maiden earnings call as CEO last week, announcing underwhelming full-year numbers and cutting dividends. The market wiped 10 per cent off the company’s share price on the back of the results.

Southern Cross Austereo CEO John Kelly. Credit: SCA

ASX-listed Southern Cross, which houses the likes of Triple M and The Hit Network, has endured its most turbulent period under Kelly’s predecessor, Grant Blackley. However, Kelly has been an integral part of the company’s management, spending the last seven years as Blackley’s chief operating officer.

“Clearly I’ve been here, and I helped design the strategy,” he said. “So I believe in the strategy, that’s the first thing.”