Radio turnoff for the Unmade Index

Today: A bad day for broadcasters on the ASX as Southern Cross Austereo, ARN Media, Nine and Seven West Media all fall.

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Radio stocks SCA and ARN take a tumble

Seja Al Zaidi writes:

Australia’s two main ASX-listed audio companies both saw their share prices fall on Tuesday.

Southern Cross Austereo was the biggest loser on the Unmade Index, dropping by 3.57% while ARN Media saw the second biggest fall, losing 2.86% of its value.

Overall, the Unmade Index was flat, nudging upwards by just 0.1% to land at 663.6 points yesterday.

Sports talk minnow Sports Entertainment Group, parent company of SEN, was the only audio stock to buck the trend, muvoing upwards by 2.44%

The two big TV companies, Nine and Seven West Media, both saw falls in share price. Nine fell 0.50% and Seven West Media 1.32%.

This was despite Domain, majority owned by Nine, having a good day with its share price rising 3.70%.

Enero Group saw a 1.73% rise, while printing and marketing firm IVE Group rose 1.35%.

Unmade returns tomorrow with an audio-led edition featuring Will Hayward, CEO of Crikey’s parent company Private Media.

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