oOh!media In $167m Equity Raising At Deep Discount
oOh! Media (OML) is tapping shareholders with a deeply discounted placement to raise $167 million that will dilute existing holders stakes in the troubled outdoor media group.
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“Escalating Uncertainty” Sees Seven West Withdraw Guidance
Seven West Media joined the growing list of casualties on Tuesday morning, withdrawing its 2019-20 earnings guidance. The withdrawal came a day after the shares closed at an all-time low of just 6.6%, much of that fall due to the company’s high debt and worsening trading over the last two years.
Read MoreVirus Infects Already Fragile Media Sector
Stand by for a bailout of the Australian media sector. A decision on whether a recapitalisation will happen at oOh!media is due to be known today while shares of national radio and regional TV group, Southern Cross Media have collapsed.
Read MoreNo Growth Nine Still The Top Of The Media Pile
Unlike Seven though, Nine remains a profitable, viable business, but even so the media sector – from print to broadcast TV and radio, not to mention digital – is seeking a slide in spending.
Read MoreDebt Laden Seven West Media Mired In The Red
The six months to December 2019 were another half year to forget for Seven West Media and the market reckons there’s worse to come over the remainder of 2020.
Read MoreWarren Buffett Says Goodbye To His Newspaper Business
After years of standing against his own, hard-nosed, but accurate reality, Warren Buffett has thrown in the towel on his small newspaper business and departed the sector.
Read MoreoOh!media Upgrades Its Earnings Outlook
Some good news amid yesterday’s second big sell-off in a row (thanks to Donald Trump). Shares in out of home ad group oOh!media soared by more than 30% after it upgraded earning guidance for the financial year ending December 31.
Read MoreMedia Groups Headline US Earnings Week
Media and entertainment groups dominate the coming week with their September quarterly reports as the US reporting season starts to wind down.
Read MoreSeven West Continues Clean Up With Pac Mags Sale
Shares in Seven West media ended up more than 11% yesterday at 43 cents after the confirmed the much tipped $40 million cash sale of Pacific Magazines to rival publisher, the German-owned Bauer.
Read MoreSouthern Cross Downgrade Sparks Media Sector Sell Off
The listed Australian media sector took a hammering yesterday when the best performed of the handful of companies – radio and regional TV operator, South Cross Austereo warned of a sharp slowdown in revenue in the first months of 2019-20.
Read More‘Disappointing’ OohMedia Rules Out Capital Raising
In an odd note, OohMedia chief executive Brendon Cook yesterday ruled out an equity raising and moved to settle nervous shareholders after confirming downgraded guidance issued earlier this month for the year to December.
Read More“Tough Year”: Seven West Media Hits The Skids
With the economy expected to slow, no real wage growth, the impact of weak demand hitting advertisers and the growth of streaming services, the media markets are not getting any easier for Seven West.
Read MoreMedia Companies Dominate Final Quarter Of US Earnings
Media companies will dominate this week’s June quarter results season in the US which is now 77% complete (in terms of the S&P 500 companies.
Read MoreNetflix Shares Tank As US Subscribers Switch Off
Netflix has shocked with its worst fall in quarterly new subscriber numbers with an unexpected and significant shortfall on its own forecasts for the June quarter.
Read MoreJournalism’s ‘Fourth Estate’ Role Is Crumbling In The Internet Age
The telling blow is the damage wrought on local newspapers.
Read MoreBruce Gordon Turns Off Prime Media
Bermuda based Bruce Gordon has surprised analysts by selling down his stake in the Seven Network’s regional affiliate, Prime Media Group, cutting it from nearly 15% to around 3.25%.
Read MoreSeven West Media Confuses With Community Newspaper Play
What is going on at Kerry Stokes’ 41% owned Seven West Media? There are some very mixed up messages coming out of the embattled broadcaster and newspaper owner. In fact, based on what slipped out on Monday in Perth it looks more like a proprietor-driven domination of the WA media than anything sensible.
Read MoreHousing Downturn Hits Domain As Nine Unloads Regional Papers
While Nine shares rose 2% to $1.77 in early trading on the news of the sale of ACM, Domain shares slid nearly 8% at one stage after it revealed a 13% slide in third-quarter property listings and a fall in revenue for the third quarter.
Read MoreSeven West Finally Seals Sale Of Yahoo7
Seven West Media has finally sealed the sale of its 50% interest in Yahoo7 to Verizon Media (formerly Yahoo, and then Oath) at a significant loss to book value.
Read MoreSeven West Shares Head South On Advertising Fall
Seven West Media shares crashed yesterday losing 10% to 50 cents at one stage and nudging the all-time low of 49.5 cents after a weak first half result and a weaker trading outlook for the rest of the financial year.
Read MoreSubscriptions Soar At “Failing” New York Times
New York Times Co’s quarterly report details its continuing success in boosting subscriber revenues, which now are more than 60% of total company revenues.
Read MoreInside Canada’s Plan To Offer Tax Credits & Subsidies To Media
So will a near $C600 million, five year series of tax breaks help the Canadian print media sector which has seen the best part of a third of all journalism jobs disappear since 2010 – 3,000 alone from Post Media, the country’s biggest print group in the last six years?
Read MoreFederal Court Approves Nine-Fairfax Deal
The Nine Entertainment takeover offer for Fairfax Media will complete shortly after a scheme of arrangement was yesterday approved by the Federal Court.
Read MoreInvestors Shrug Off Last Ditch Attempt On Fairfax-Nine Deal
Fairfax Media and Nine Entertainment shares rose yesterday after Fairfax shareholders ignored a last minute attempt to destabilise the $2.8 billion deal by former Fairfax property executive, Anthony Catalano.
Read MoreACCC Ticks Nine Takeover Of Fairfax
The Nine Entertainment takeover of Fairfax Media has been given the green light, but it won’t be happening as a $4 billion deal as many media reported yesterday and this morning – at least it will be around $3 billion.
Read MoreNew York Times Continues Digital Transformation
Just when media and other analysts had been looking for the New York Times great subscription boom to run out of puff after a weak 109,000 new digital-only subs were reported in the June quarter, the company has gone and reported two major milestones in the three months to September.
Read MoreDownbeat Domain Adds To Media Gloom
The fall out from last Friday’s trading updates from Nine Entertainment and Fairfax Media ahead of the release of the documentation for their planned takeover deal continued to batter the media sector yesterday on the ASX.
Read MoreDownbeat Updates See Fairfax, Nine Shares Slump Ahead Of Merger
Oops, there’s $800 million or so off the value of the proposed Nine Entertainment takeover of Fairfax Media after downbeat market updates from both companies on Friday (especially Nine) ahead of the release of documentation for the deal.
Read MoreKiwi Court Rejects Final Fairfax Merger Attempt
The New Zealand Court of Appeal has rejected the final attempt from Fairfax to merge with its Kiwi print and radio rival, NZME.
Read MoreComcast Beats Out Fox In Battle For Sky
US pay TV and movie giant, Comcast has ended Rupert Murdoch family’s involvement with European broadcasting by outbidding 21st Century Fox and its ally, Disney for the UK-based euro satellite TV group Sky in a deal valued at more than $A50 billion
Read MoreSealed Bids To Settle Fox-Comcast Battle To Buy Sky Plc
A game of pass the envelope on Saturday in London will settle the $47 billion battle for control of Sky Plc, a key company in the Murdoch family’s fortune.
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