I’m not sure what to make of it - selling out given they’re no longer an acquisition target makes sense, but doing it before the SWM deal closes is intriguing
SWM would still be on ARN’s investor registry, wouldn’t they? Kerry Stokes held stakes in both SCA and ARN, if I remember correctly. So maybe ARN reducing their stake in SCA is just about cutting down on any potential conflicts ahead of SCA’s merger with Seven — especially now that ARN no longer has any realistic path to pursue a merger with SCA themselves.
1 Like
Thats a good point - they would possibly hold close to a reportable stake once things shake out
Quelle surprise. Dave Cameron jumps to ARN.
2 Likes
Any press release on this? What is his role? Group CD?
Head of Content - Metro.
1 Like
ARN made two appointments, the other is Kerri Elstub will be the new chief content officer.
1 Like
ARN have released their Full Year results:
https://radioinfo.com.au/news/radio-remains-core-to-our-strategy-tough-fy25-results-for-arn/
Key points:
• Total revenue of $285m, down 10%.
• Operating Costs of $187m, down 4%, excluding reinvestments down 12%.
• Underlying EBITDA from continuing operations $47.5m, down 23%.
• Cost reductions of $24 million realised in FY25.
• Net debt reduced by 28% to $64m.
• Digital revenue growth of 7% to $27.4m, with significantly improved profitability.
1 Like
Another piece today below on the dumpster fire that is ARN. What a giant clusterf..k that joint is. Many could see this coming the past few years (except the previous management of course who ploughed on and drove over the cliff regardless). Revenue and Profit diving, inflated costs baked in for certain ridiculously overpriced on air “talent”, while many good decent staff have been put through the shredder to desperately try and claw back some savings. Dividend now suspended. ASX share price graph looks like the downhill giant slalom from the winter Olympics (35 cents today, 4 years ago $2 +). So sad.
3 Likes
Jeff Burzacott departs ARN
Jeff Burzacott has finished up as Music Director for Adelaide’s Cruise 1323 and Perth’s 96fm , with ARN confirming he resigned last month.
If I were running ARN I’d threaten them with any further breaches they are in breach of contract and could’ve dismissed with cause. Find any way out of this contract as possible.
2 Likes
You’re showing more brains than ARN. That’s dangerous. 
1 Like
I agree. Although I have heard the contract is watertight. Either way I would hope ARN have sought legal advice on whether they could get out of it or not.
I think the problem is ARN probably don’t have the money to launch such an action, and if it doesn’t go their way it could potentially bankrupt them..
1 Like
Agree @Brianc68 . However ARN are going bankrupt anyway with the contract in place as it stands. Somehow someway they gotta get out of it.
1 Like
Surely breaches of the code are an out. I’d also be putting Smallzy in breakfast anytime either one of them is unavailable and making it clear they have a backup.
You would think so, but I wouldn’t be surprised if nobody bothered to specifically include that in the contract. And in that case it would then be contested and become very expensive to fight :(.
Daniel Underhill confirms ARN departure
Daniel Underhill has confirmed his departure as ARN’s Head of Content – Operations.
The news comes hot on the heels of a tough set of results for FY25, with ARN’s self-described “year of transition” seeing net profits fall by 68%.
Underhill had been at ARN for nearly six and a half years.
This follows an earlier report on Mediaweek that ARN had made Underhill, who was based in WA, redundant, as part of a management restructure.
Traditionally, don’t all redundancies occur prior to AGM figures being released so the networks can pump up their profits?
Why is ARN laying off staff AFTER releasing these figures?