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8 stories mentioning ASX:A1NUpdated 27d ago

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Asia

Market Chatter: ARN Media Faces AU$82 Million Lawsuit From Sacked Breakfast Show Host

ARN Media (ASX:A1N) faces a more than AU$82 million lawsuit from Jackie "O" Henderson after the company ended her contract and canceled her radio breakfast show, The Australian reported Sunday.The company terminated the KIIS FM show in March after Henderson told management she no longer wanted to work with co-host Kyle Sandilands, who was also sacked but reached a AU$12 million out-of-court settlement with ARN, according to the report.Henderson has accused the company of making "misleading and deceptive statements" related to her firing after she filed a complaint about Sandilands' behavior in the work place, The Australian reported.ARN Media did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

ASX:A1N
Asia

ARN Media Sells Hong Kong Advertising Units to DFI Retail Group for Over HK$30 Million

ARN Media (ASX:A1N) agreed to sell its Hong Kong out-of-home advertising businesses, Cody Outdoor International and Buspak Advertising, to DFI Retail Group for HK$30.2 million in total, according to an Australian bourse filing on Tuesday after market hours.The divestment reflects the company's strategy to withdraw from non-core international assets and concentrate on its core digitally driven entertainment business in Australia, per the filing.The sale of Cody Outdoor International will be settled 75% upfront and 25% after 12 months, with net proceeds applied to net debt, the filing said.The sale will also result in the release of AU$30.5 million in bank guarantees upon completion, the filing added.

ASX:A1N
Asia

Airtasker Completes Early Settlement of AU$10 Million Media Partnership Notes

Airtasker (ASX:ART) agreed to the early cash settlement of two AU$5 million media partnership notes issued to subsidiaries of oOh!media (ASX:OML) and ARN Media (ASX:A1N), according to a Monday filing with the Australian bourse.The company paid AU$5.5 million to oOh!media and AU$5.4 million to ARN Media, including accrued coupon, achieving a combined early settlement discount of AU$300,000, which represented a 27% reduction in the total interest payable, the filing added.Shares of Airtasker and oOh!media rose 2% and 1%, respectively, in Monday trading, while ARN Media shares fell 2%.

ASX:A1NASX:ARTASX:OML
Asia

Australian Shares Rise; ARN Media Settles Legal Dispute With Kyle Sandilands

Australian shares rose on Wednesday after US President Donald Trump said the Strait of Hormuz might be reopened as early as Friday.The S&P/ASX 200 Index gianed 0.54%, or 48.60 points, to close at 8,966.30.The US and Iran are expected to sign the peace agreement in Switzerland on Friday.On Wall Street, the Nasdaq Composite fell 1.15%, and the S&P 500 was down 0.57%. Brent crude oil futures fell below $80 per barrel.On the domestic front, Australia must be ready to manage a financial system that is more prone to shocks, as the currently strained geopolitical environment carries broad implications ranging from the resilience of key payments infrastructure to the fragmentation of cross-border capital flows, Reserve Bank of Australia Assistant Governor Brad Jones said in a speech.The six-month annualized growth rate in the Westpac-Melbourne Institute Leading Index inched up slightly to negative 0.17% in May from negative 0.18% in April, but remains weak, Westpac said.In company news, ARN Media (ASX:A1N) reached a binding settlement with Kyle Sandilands, resolving all outstanding legal disputes, including Federal Court proceedings. The agreement requires the company to pay a total of AU$12.1 million, comprising AU$3 million in July and the remainder in monthly installments through June 2029.Vysarn (ASX:VYS) entered into a binding share sale agreement for the acquisition of NWG Enterprises, which deals in industrial-scale irrigation systems, pumping systems, and ancillary technology, for a total consideration of up to 33 million Vysarn shares and AU$25 million in cash.Lastly, Symal Group (ASX:SYL) has agreed to acquire Queensland-based defense and resources contractor Shamrock Civil for AU$51 million upfront, alongside up to AU$28.4 million in performance-based earn-outs linked to fiscal year 2026 and fiscal year 2027.

ASX 200ASX:A1NASX:SYLASX:VYS
Asia

Update: ARN Media Settles Legal Dispute With Kyle Sandilands; Shares Up 24%

(Updates to add stock movement in the headline and the last paragraph)ARN Media (ASX:A1N) reached a binding settlement with Kyle Sandilands resolving all outstanding legal disputes, including Federal Court proceedings, according to a Tuesday disclosure filed with the Australian bourse on Wednesday.The agreement requires the company to pay a total of AU$12.1 million, comprising AU$3 million in July and the remainder in monthly installments through June 2029, per the filing.Sandilands will cease providing services to the company and intends to pursue independent media projects, the filing said. Additionally, the agreement contains a non-compete clause that bars Sandilands from working with the company's direct competitors for up to nine months, expiring in March 2027.The company will provide AU$1.5 million in advertising services to Sandilands over three years while also receiving a nearly 20% net revenue share from his new venture for up to three years, subject to agreed thresholds and caps.Proceedings involving Jacqueline Henderson are ongoing, the filing added.The company's shares jumped around 24% in recent Wednesday trade.

ASX:A1N
Asia

ARN Media Settles Legal Dispute With Kyle Sandilands

ARN Media (ASX:A1N) reached a binding settlement with Kyle Sandilands resolving all outstanding legal disputes, including Federal Court proceedings, according to a Tuesday disclosure filed with the Australian bourse on Wednesday.The agreement requires the company to pay a total of AU$12.1 million, comprising AU$3 million in July and the remainder in monthly installments through June 2029, per the filing.Sandilands will cease providing services to the company and intends to pursue independent media projects, the filing said. Additionally, the agreement contains a non-compete clause that bars Sandilands from working with the company's direct competitors for up to nine months, expiring in March 2027.The company will provide AU$1.5 million in advertising services to Sandilands over three years while also receiving a nearly 20% net revenue share from his new venture for up to three years, subject to agreed thresholds and caps.Proceedings involving Jacqueline Henderson are ongoing, the filing added.

ASX:A1N
Asia

ARN Media's Remuneration Report Gets First Strike at Annual General Meeting

ARN Media's (ASX:A1N) remuneration report received a first strike at its annual general meeting, with more than 90% shareholders voting against the executive pay resolution, according to a Thursday Australian bourse filing.The first strike implies that more than 25% shareholders have voted against a resolution, and if the resolution receives a second such strike, it automatically triggers a spill resolution, leading to a full board re-election subject to shareholder approval.

ASX:A1N
Asia

ARN Media Says Fiscal 2025 Revenue From Continued Operations Declined Due to Softer Advertising Market

ARN Media (ASX:A1N) said its total revenue from continued operations came in at AU$285.2 million for fiscal 2025, down from AU$317.1 million in the previous fiscal year, impacted by a softer advertising market and Metro market headwinds, according to a Thursday Australian bourse filing.The company said 10% of its revenue is now delivered from digital platforms. Its digital revenue rose 7% year over year.Global uncertainty, geopolitical issues, and inflationary pressure impact advertising markets, and the total audio advertising market is expected to be broadly flat in fiscal 2026, it noted. Revenue and revenue share improvement is expected in the second half.

ASX:A1N

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