Craig Hutchison’s Sports Entertainment Group hits historic low point on the Unmade Index

The Unmade Index dipped again yesterday, while at the small end, radio company Sports Entertainment Group hit its lowest point.

The Index, our tracker of ASX-listed media and marketing companies, fell 0.37% to 685.33 points.

A key milestone of the day was a 2.7% decline for SEG, owner of the SEN radio network, falling to 18c and giving the company a market capitalisation of $45m.

The valuation of SEG is the lowest since proprietor Craig Hutchison masterminded the reverse takeover of the listed Pacific Star Network five years ago.

Meanwhile, fellow audio player Southern Cross Austereo saw a drop of 2.6%. ARN Media moved in the other direction, up by 0.49%.

Ooh Media lost 1.06%, while Domain and Nine fell 0.74% and 0.47% respectively.

Enero Group had a good day, lifting 7.41%.

The Market Herald rose by 1.56%. The embattled company’s ownership saga is to to see its next twist imminently, with the Takeovers Panel set to publish the details of its investigation into the behaviour of the company’s biggest shareholders, the Argyle family.

We’ll be back with Best of the Week tomorrow.

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