Good news for the minority shareholders in Village Roadshow (VRL), with the company taking the money and running from Southern Cross Media's bid for Austereo and using the cash to make a capital return of $1 a share.

As well the company says a review of costs has found savings of $20 million.

But while minorities might cheer (especially with the share jumping 15% yesterday to $4.00, a new 52 week high), the controlling Kirby family and associated interests will get the lions share of the benefit through their holding of 68.17% of the company, or more than 77.8 million shares.

Village Roadshow says it has accepted Southern Cross Media's (SCM) offer in respect of its holding of 181,093,856 Austereo shares and will take the cash.

VRL said it will