“Parties” is probably an apt description as you’d need to be on some of the good stuff to even think about buying them.
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John Kelly is only excited for the future as he knows that when he’s punted, he will get a great golden good riddance. Shareholders, staff, clients and audience will continue to suffer.
@Radiohead is spot on. You’d be bonkers to buy SCA stock let alone be holding it.
John Kelly should be a politician, he talks and thinks like one. Sounds very much akin to Richie Sunak or any other leader cheerily positive despite knowing their party is not for saving.
As electoral cycles end, so do leadership cycles in business and John’s in need of an excuse for an exit. “Family time”?
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Adrian Mauro is departing B105. The multi talented, ACRA finalist, audio producer has been with SCA in Brisbane for 13 years and genuinely leaves large boots to fill.
Nic Kelly announced on LinkedIn a move from the Central Coast to Sydney to take up additional operational roles alongside their national music show The Hot Hits every Saturday.
Source: Radioinfo
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I remember him doing nights on NXFM Newcastle in the mid 1990s hosting the local Hot 30.
He’s done well to survive in commercial radio this long without ever being a big name.
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…years, holding down various programming and on-air roles in Brisbane as well as Melbourne, where he was Assistant Content Director at Fox FM for over three years.
Under a revamped structure, there’ll now be one Group Content Director role at SCA Perth, with James Speed to take up this position immediately, overseeing both Mix 94.5 and Triple M.
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Will be interesting with this move in place whether Perth TripleM will stay with it’s current format or be realigned to greatest hits…
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I hope no format change for Triple M Perth.
Well done to James Speed. He has done brilliant work at Mix94.5, undoing the networked mess that happened after the Triple M/Hit Perth switch.
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…the company adopts a hybrid operating model across both Australia and the Philippines.
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(Paywall - Subscription required)
Also, their AGM is scheduled for tomorrow (Monday 25th November).
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Basically the two major shareholders including ARN are pissed that SCA has rejected five proposals in 13 months for the TV assets.
On Saturday, The Weekend Australian reported the SCA board had received five transaction proposals over the past 12 months and shrugged off each of them as the share price kept tumbling – from highs of $1.05 in November last year to Friday’s close of 54.5c.
It is understood major shareholders are furious that such opportunities to reduce the company’s debt were passed over, particularly as its share price has been on a steady downward spiral for more than year
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The AFR article comes across as at least two of the three being retaliatory against SCA for not doing a deal with them - The Australian adds valuable context (yeah, yeah, stopped clocks and all that)
To knock back 5 offers suggests that SCA have overvalued the television bits and/or (I suspect and here) the bids have been real low which is likely to reflect the market
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This has to be it. SCA are very focused on the money, so it really just comes down to a simple calculation of if the numbers work for them or not. They have no interest or emotional connection to the TV licences, so to be rejecting offers for them probably simply means that the offers are less than the profit SCA expects to make from those stations in the next few years.
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so they got their first strike - renumeration report vote didn’t meet the required quota
Reelection of chair and granting of performance rights to MD had a decent protest vote but passed
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SCA “disappointed and angry” about AGM First-Strike vote
Company Chair Heith Mackay-Cruise began the meeting by commenting on a report in the Financial Review that two major shareholders intended to vote against the remuneration report and against his re-election as Chair.
In the end, three of the four votes were carried, delivering Mackay-Cruise back to the Chairmanship, electing Marina Go to the board and allowing the Managing Director’s performance rights to be paid.
But, the fourth motion was defeated, with 215 million votes FOR the company’s Remuneration Report and 83 million AGAINST, triggering a ‘first strike’ for the company.
The no vote for the SXL Remuneration Report was about 28%.
One of the two major shareholders that voted against the report was unsuccessful takeover suitor ARN. The other was Spheria Asset Management.
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The agreement will see the Wildcats join forces with SCA across Mix94.5, 92.9 Triple M and LiSTNR, with Mix94.5 to have a heavy brand presence at all Wildcats home games at RAC Arena.
The Wildcats will also have an exclusive LiSTNR podcast called The Perth Wildcast, hosted by 92.9 Triple M Breakfast anchor Daniel Leach.
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From Radioinfo:
SCA disputes ‘poison pill’ story labelling Financial Review report ‘incorrect and misleading’
Original article in question (paywall):
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SCA has announced strategic changes to its Western Australian leadership team, with Robert Iannazzo appointed as Executive General Manager – Adelaide and Western Australia, and Remi Barley promoted to General Manager and Head of Sales – WA Regional.
The appointments of Iannazzo and Barley are effective immediately.
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