ARN points to ratings success as revenue slides 40% in April

May 8, 2020 8:51

Australian Radio Network (ARN) has seen revenue fall 40% in April and expecting a similar result in May, but parent company Here, There & Everywhere (HT&E) has pointed to the company’s strong ratings results and lack of debt as its path through the COVID-19 pandemic.

Chairman Hamish McLennan said the business has one of the strongest balance sheets in Australian media with $111m net cash and an undrawn $250m debt facility.

“HT&E is in a very strong and stable position during these unprecedented times and thanks to a number of strategic steps taken last year, our business is one of the better placed media companies in Australia currently facing into this crisis,” said McLennan.

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Hannah Blackiston

Hannah Blackiston was the deputy editor of Mumbrella. She worked with the company from March 2019 to November 2020.

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