‘LiSTNR is key in ARN Media’s proposed takeover’: Morgan Stanley does the maths
Morgan Stanley has released a report examining the current and future value of LiSTNR in any SCA/ARN deal.
“We believe further media industry consolidation makes sense,” the report states.
“But there are several challenges with the ARN deal we see: a) it’s complex (in order not to breach current media ownership laws); b) not all key details are public yet, thus it’s difficult to be conclusive; and c) it’s predominantly a share offer (25% cash, 75% shares) so SXL shareholders still end up owning a FM radio company.
LISTNR is not *key* to the deal.It’s a toy, sure it’s had some growth of late, but it’s no where near the platform iHR is.
Any stations and content acquired will be moved to the iHeart platform as that is where the listeners are.
The key components are Triple M which will become a gold format to compliment ARN’s CHR/HotAC formats.
There’s very little to gain acquiring a networked Hit Network where the life of the brand has been bled dry in favour of bland, generic talk breaks and automation.
You DEFINITELY DONT sound like an ARN employee!! I think I’ll listen to experienced market analysts over you, if that’s ok?
Whilst one should always be open to opinions and perspectives this unfortunately overlooks a number of key items which will determine the outcome here.
Sure thing DEFINITELY NOT an ARN employee no.2