Media stocks on the move

Tim Burrowes

April 16, 2009 11:10

The Ten Network is Australia’s worst performing major media stock of the year to date, while Consolidated Media is the best, according to a piece of analysis published today.

According to the article in the Australian Financial Review, Ten Network – which actually saw a slight rally in its price yesterday – has seen its share price slump by 31.6% in the year to date, driven mainly by the problems of its main shareholder CanWest. APN (down 29.3%) and Fairfax Media (down 27.4%) were not far behind.

At the other end of the scale, the now slimmed-down, James Packer-backed Consolidated Media was up 8.5%; Austereo was up 7.4% and Macquarie Media was up 6.3%.

Media stocks are now enjoying improved market sentiment, the article reported.

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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.

Topics

Consolidated Media Holdings Media shares Ten

1 COMMENTS

epiphany 19 Apr 09

Ah yes, but their perfect fall is a new investor’s opportunity.
Ten:
Poor management + shrinking market share + parent company CanWest facing oblivion = depressed share price.
That means hungry predators are around.
Expect to see a takeover inside a few months I’d say.

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