Market punishes broadcasters and rewards Nine’s outdoor move

Tim Burrowes

February 2, 2026 5:01

The investment market continued to disdain the broadcast sector on Monday, with the newly merged Southern Cross Austereo and Seven West Media operation falling below a market capitalisation of $300m for the first time since the deal.

After falling by more than 3%, SCA spend much of Monday below the landmark number before recovering somewhat in late trading to finish the day almost flat on a market cap of $306m.

By contrast, it was another good day for Nine with its investment in outdoor via its QMS purchase, and exit from radio, rewarded with the share price increasing by another 6.6%, taking it back above a $1.9bn valuation for the first time since it sold out of Domain.

Nine’s valuation has increased by more than $200m over the last two trading days.

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Tim Burrowes

Tim Burrowes is the publisher of Mumbrella and Unmade. He co-founded Mumbrella in 2008 and sister title Unmade in 2021. He's worked in the UK, Middle East, Asia & Australia and has specialised in writing about the communications world for the last 25 years. He wrote the book Media Unmade, published in 2021, and became the presenter of MediaLand on ABC Radio National in 2025.