Bad year for investors with most ASX media investments declining in 2017
ASX investors who backed media and marketing companies mostly lost money, Mumbrella’s analysis of share market performance in 2017 reveals.
The worst ASX performer of the year was Ten, which started the year with a share price of 94c, but was put into administration in June as it became clear the broadcaster would be unable to get out of its financial difficulties. Shareholders lost their entire investment.
Meanwhile, Nine Entertainment Co (ASX:NEC) – owner of the Nine Network – was the only major media company to deliver big growth for its investors.
The company’s share price rose by 45.2% from $1.06 on January 1 to $1.54 at the end of the year, giving the company a market capitalisation of $1.34bn.
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