Southern Cross Media Group Limited (ASX:SXL) will look for acquisitions. Chief Executive Officer Grant Blackley has said a historically low debt pile and strong cash flow boosted by a $169 million emergency capital raising earlier in year 2020, will allow the company to look for new merger and acquisition opportunities. Blackley said the advertising market was already showing strong signs of improvement after the company, which runs the Triple M and HIT radio networks, posted an 18% revenue decline to $540.8 million for the full financial year as low consumer sentiment and the COVID-19 downturn spooked advertisers. "We have a high level of liquidity now," he said. "We have a stronger balance sheet than we've ever had. We have historically low levels of debt. That positions us well to. see if there is anything that interests the company that is in scope for our strategy".