Commonwealth Bank (CBA) have sold all of their SCA shares, no longer seeing SCA as a good investment I’d imagine.
How the mighty fall.
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Yeah $22,000 worth of shares.
Zzzzzzzzzzz
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Only $22,000 because they’re almost worthless, there’s enough shares involved for them to have to issue a statement to the ASX about CBA ceasing to be a substantial shareholder.
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Probably getting out before their holding was further diluted with the retail share offer?
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Does Bruce Gordon still own shares in Southern Cross Media? If he does, it appears that he is not entitled to purchase new shares in the retail offer. From the scheme booklet released today:
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Is there a tax or ASIC reason too? Something about issuing a different prospectus/offer docs if Bermuda et al is included?
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Wouldn’t stop Andrew Gordon from buying though?
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He would not be a retail holder so excluded anyway - sophisticated (high wealth) investor.
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Ok, I didn’t know that.
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If we’re to believe what anonymous sources post within the TV discussion on here, there’s a chasm between Bruce and his children, they don’t share his antagonistic attitudes, so they may have no interest to buy?
Certainly not to spoil the SWM merger of Prime, what a disgrace, Rex Clark could’ve had the Prime bulletins fixed by now almost.
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From Radioinfo:
The Triple M and Hit networks have joined the growing list of radio stations that will stand together this ANZAC Day to encourage listeners from across the nation to support Australian service men and women.
The ANZAC Day Commemorative Service will be broadcast across all 98 stations, on the both the Triple M and Hit networks, live from the Australian War Memorial in Canberra.
Read more here.
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I was saying this exact same thing last year and everyone laughed at me saying I was wrong and stupid
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Stacks more to come of the company being in strife … today was a very “interesting” day for many staff members I’ve been told.
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With the latest rounds of cutbacks? I feel for them, a very hard time indeed (the staff that is).
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This is what I’m referring to
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Southern Cross Media has successfully completed its equity raising, giving it an expanded war chest of $169 million to see it through the Coronavirus crisis.
Source: Radioinfo
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SCA’s live radio streaming and audio on demand platforms continue to break listener and download records with more listeners, more often and on more devices, with daily live radio streams growing 21% since March 9.
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Slightly off topic, but SCA isn’t alone there, & it’s nothing spectacular saying SCA is better than everyone else, unless you only read & believe their spin.
I’d say on average the CoastFM 96.3 Gosford stream has had 25-35% more listeners, more often & for longer TSL since COVID-19 lockdowns, if this was to go on longer, I’d be having to upgrade the stream capacity, because at times we have peaked out the concurrent available listener slots for the stream, I don’t know how many tried listening online but couldn’t get on because we were already at capacity, it could’ve pushed the increase up to 50% if we had more capacity?
Radio listening overall is up everywhere, people are locked inside with not much to do or working from home with the radio on in the background or streaming while working on their computers, where they normally wouldn’t in the office or other place of employment.
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Also slightly off topic, but how many online streams can a station like Coast FM accommodate at any one time, and more back on topic, if we know how many can SCA accommodate? (be plenty more than Coast I’d think).
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CoastFM can have 100 listeners at present, next step up is 250, then 500.
Don’t know how many SCA stations would have, metro stations would have more than regional, & regional more than digital only.
Maybe 10,000 concurrent listeners at most for a metro station I guess, it’d probably be a lot less than that though?
You’re looking at around $80-100 AUD per month for up to 256k & 250 concurrent listeners for external hosting, so you’ve got to have a lot of money or revenue to cover it & have a large number of your limit connected all the time.
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