** Southern Cross Media SXL.AX rises as much as 4.5% to A$0.585, highest since Sept. 3
** Co signs agreement to sell its television licenses in Queensland, southern New South Wales and Victoria to Network 10
** Expects to get A$15 mln-A$20 mln ($9.6 mln-$12.7 mln) consideration over five-year participation period
** Will be entitled to share of profit of the three licenses for five years after sale
** Stock posts biggest intraday pct gain since Dec. 6
** SXL down 43.7% this year, as of last close
($1 = A$1.5701)
(Reporting by Nichiket Sunil in Bengaluru)
((Nichiket.Sunil@thomsonreuters.com))
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