The former Ten Network Holdings CEO has made his return to full-time media with the task of turning around the regional television and national radio company, which is still reeling from the loss of star 2Day FM radio duo Kyle Sandilands and Jackie O to rival APN News & Media's KIIS FM.

Southern Cross's Ten affiliation deal – under which it gives Ten a slug of revenues in return for taking its feed – expires in July 2016, soon after the expiration of the affiliate deal between larger metropolitan network owner Nine Entertainment Co and its regional affiliate WIN Corp.

Mr Blackley said his six years running Ten, until 2011, should help with negotiations, saying "we can get down to business very quickly" on the negotiations as he praised Ten's recent ratings bounce-back.

"At the moment I am focused on the partnership we have with Ten and, importantly, exploring where we can take it in future. We have a very long and fruitful relationship over many years and with respect to that history we have to exhaust every possible avenue we can," he told Fairfax Media.

Mr Blackley, who will stand down as CEO of the restaurant owner The Keystone Group and CEO of Four Seasons Media, will also be tasked with positioning Southern Cross for potential future mergers if the government abolishes cross-media ownership restrictions.

As reported by Fairfax Media, he was one of several high-profile candidates for the job and his lack of a non-compete clause has helped in the appointment. He starts on June 29 on a basic salary of $1.05 million with up to $800,000 more a year in short and long-term incentives.

Southern Cross Media chairman Peter Bush will step down from his role as executive chairman when Mr Blackley commences, and resume his former role as non-executive chairman.

Mr Bush said: "I have had the opportunity to observe Grant in his various media industry roles over some time and I have a great deal of respect for his expertise and achievements in media sales, strategy and executive team development in particular.

"With Rhys Holleran stepping down recently and due to leave Southern Cross Austereo after 18 years in various leadership roles, it was very important to us that we recruit an executive with extensive media industry experience and proven capacity in team development and talent management."

Mr Bush said Mr Blackley would be tasked with "reinvigorating Southern Cross Austereo's sales strategy, programming and talent management".

"In addition, with the potential opportunities and challenges that could flow from mooted media ownership rule changes in future, Grant's extensive media industry knowledge and network will be a distinct advantage," he said.

Mr Blackey will relinquish all other management responsibilities with Four Seasons, RGM Artists and Keystone, which runs venues such as Sydney's Cargo Bar and the Newtown Hotel, before taking the helm.

Rhys Holleran has already stepped down as CEO and will conclude his employment with Southern Cross Media at an agreed date.