Monday media market wrap: Media shares hammered in first week of year shedding $1.5bn, after a strong finish to 2015

January 11, 2016 9:37

Media shares on the ASX were pummelled last week with the overall market capitalisation of the top 17 listed media companies falling $1.54bn, as investors sold off shares across the board.

The total media market capitalisation of those 17 shares fell from $25.5bn at close on Monday to just over $24bn by late Friday, a 6.04 per cent decline.

A media index of the 17 biggest ASX listed media companies showed the combined share price fell from $125.23 on Monday to $117.83 at close on Friday.

Among the hardest hit were outdoor player Ooh Media, declining 9.43 per cent, marketing services firm Salmat which fell 9.09 per cent, Australian agency holding company Enero slipped 8.24 per cent and jobs classified business Seek, which lost 7.39 per cent.

Subscribe to keep reading

Join Mumbrella Pro to access the Mumbrella archive and read our premium analysis of everything under the media and marketing umbrella.

Nic Christensen

Nic Christensen worked for Mumbrella from 2013 to 2016, in roles including deputy editor and media & technology editor. He is former media writer for The Australian and has also worked as a reporter for The Daily Telegraph and senior producer for Radio 2GB.

Topics