Radio Today

APN to make further announcements today

The parent company of ARN and TRN, APN News and Media, have today confirmed in a statement to the market, that there has been a request for a General Meeting made.

The meeting is to consider resolutions for the removal of directors Peter Hunt, Melinda Conrad, John Harvey, Kevin Luscombe, John Maasland and CEO and director Brett Chenoweth (pictured).

You can see the announcement to the market below.

Last week one of APN's largest shareholders, Ireland's Independent News and Media called for the removal of CEO Brett Chenoweth saying that had lost confidence in his ability to "implement the strategic initiatives necessary to reposition APN for the more challenged media landscape that has emerged in Australasia".

Today, Simon Marais, who runs fund manager Allan Gray, a 19% shareholder in APN, has confirmed that he wants the directors replaced. Speaking to The Australian, Marais said;

“It’s better that they go because it’s a silly thing to do (a capital raising). The important thing to do is turn the business around and get it fixed”

The rest of this afternoon will be intriguing, with APN advising there are further announcements to come today.

Published on Published on Monday, 18 February 2013 14:30

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1 104.7 17.3 (17.5) SCA
2 Mix 106.3 16.8 (15.9) SCA
3 ABC666 16.4 (15.6) ABC
4 triple j 10.0 (10.3) ABC
5 Classic FM 8.2 (10.2) ABC
6 Radio National 7.6 (6.9) ABC
7 2CC 7.0 (6.6) Capital
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Gold Coast Ratings

1 Gold FM 15.0 (17.1)* SCA
2 Hot Tomato 13.9 (12.3)* HT
3 Sea FM 8.8 (10.9)* SCA
4 triple j 7.6 (8.0)* ABC
5 ABC 91.7 FM 6.6 (5.6)* ABC
6 ABC612 4.2 (4.7)* ABC
7 4RN 2.7 (3.0)* ABC
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Brisbane Ratings

1 97.3FM 13.0 (13.8) ARN
2 Nova 106.9 11.5 (11.7) NovaEnt
3 ABC612 11.5 (10.8) ABC
4Triple M9.69.1) SCA
5 B105 8.6 (9.4) SCA
6triple j8.4(7,5) ABC
7 4KQ 7.6 (8.0) ARN
8 Magic882 5.4 (5.0) Fairfax
9 4BC 4.1 (4.4) Fairfax
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Perth Ratings

1 Mix 94.5 13.6 (14.2) SCA
2 Nova 93.713.6 (12.4) NovaEnt
3 96FM 10.7 (10.7) Fairfax
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5 triple j 9.7 (10.3) ABC
6 6PR 9.6 (10.2) Fairfax
7 92.9 7.4 (8.0) SCA
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Auckland Ratings

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4 The Breeze 7.0 (6.5) Mediaworks
5 Classic Hits 6.7 (5.9) TRN
6 ZM 5.9 (5.6) TRN
7 Mai FM 5.2 (4.3) TRN
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Christchurch Ratings

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2 More FM 10.7 (11.8) Mediaworks
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5 The Edge 6.9 (6.5) Mediaworks
6 The Sound 6.0 (6.4) Mediaworks
7 Classic Hits 5.7 (5.7) TRN
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Wellington Ratings

1 NewstalkZB 15.3 (10.5) TRN
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3 ZM 11.3 (12.4) TRN
4 The Sound 7.5 (7.1) Mediaworks
5 The Rock 7.4 (8.3) Mediaworks
6 The Edge 6.6 (8.3) Mediaworks
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1 KOFM 15.3 (16.1)* SCA
2 ABC1233 11.1 (12.0)* ABC
3 triple j 10.8 (11.2)* ABC
4 2HD 10.3 (8.8)* BOG
5 NXFM 9.7 (10.3)* SCA
6 New FM 9.3 (8.4)* BOG
7 Classic FM 4.7 (5.1)* ABC
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5 2GB 9.8 (8.9) MRN
6 Triple J 5.8 (5.2) ABC
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2 The River 20.7* (27.0)** SCA
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4 ABC Local Radio 14.0* (11.2)** ABC
5 Triple J 9.9* (4.2)** ABC
6 Radio National 2.2* (1.6)** ABC
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3AW 13.6 (13.9) Fairfax
ABC 774 11.0 (11.7) ABC
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Nova 100 7.3(6.8)NovaEnt
Triple M7.1(7.6) SCA
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CompanyStock IDPriceChange
Southern Cross Media
SXL
0.925
2.78%
Fairfax Media Group
FXJ
0.805
3.21%
Macquarie Radio Network
MRN
1.13
0.00%
Pacific Star Network
PNW
0.280
0.00%
APN News & Media
APN
0.765
0.00%
Oceania Capital
OCP
1.42
0.00%
Ten Network
TEN
0.220
7.32%
Seven West Media
SWM
1.57
1.95%
Seven Group Holdings
SVW
6.69
1.21%
Nine Entertainment
NEC
1.95
1.83%
Prime Media Group
PRT
0.890
-1.66%