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.


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Wollongong Ratings

1 I98 23.8 (28.5) WIN
2 Wave FM 16.0 (17.3) GRANT
  • 10+ share Mon-Sun, Survey 1/2014
  • IRIS Research

Wellington Ratings

 

  NewstalkZB 15.2 (13.5) NZME
  The Breeze 9.3 (12.9) Mediaworks
  The Hits 6.3 (7.6) NZME
  ZM 8.0 (7.8) NZME
  The Sound 7.1 (5.1) Mediaworks
  The Rock 4.8 (6.7) Mediaworks
  The Edge 7.0 (6.5) Mediaworks
  Coast 6.8 (6.3) NZME
  • 10+ share, Survey 1/2016 (Brackeys Survey 2/2015)

Warrnambool Ratings

1 Coast FM 37.7 - Ace
2 3YB 21.7 - Ace
3 triple j 7.3 - ABC
4 ABC Local Radio 4.0 - ABC
5 ABC Radio Nat. 2.5 - ABC
6 Classic FM 1.5 - ABC
  • 10+ share Mon-Sun, Survey 1/2015
  • Xtra Research

Sydney Ratings

 

 

  2GB 12.2 (11.8) MRN
 ABC 702 9.5 (9.3) ABC
  WSFM 7.6 (6.2) ARN
  TRIPLE M 6.0 (6.5) SCA
 KIIS 1065 8.0(8.1) ARN
 smoothfm 95.3 9.6 (9.1) NE
 Nova 96.9 7.0(8.1)NE
 triple j6.1(5.8) ABC
         
  • 10+ share Mon-Sun, Survey  5/2016

 

Perth Ratings

  Mix 94.5 14.4 (15.3) SCA
  Nova 93.7 12.9 (13.2) NE
  96FM 8.1 (8.4) ARN
  triple j 10.2 (10.2) ABC
 ABC7208.7(8.9)ABC
  hit 929 10.9 (10.9) SCA
  6PR 7.8(7.6)MRN
  6IX 4.6 (4.3) CAP
         
  • 10+ share Mon-Sun, Survey 5/2016
 
 

 

Newcastle Ratings

1 KOFM 1563 (15.3) SCA
2 ABC1233 13.6 (11.9) ABC
3NXFM 10.7(11.6) SCA
4 2HD 10.4 (9.8) BOG
5 Triple J 9.9 (9.9) ABC
6New FM8.5(10.0)BOG
7 Classic FM 4.0 (3.) ABC
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Melbourne Ratings

 

  3AW 14.4 (14.8) MRN
  ABC 774 10.5 (10.5) ABC
  Gold 8.6 (7.9) ARN
  Triple M 7.4 (7.9) SCA
  Fox FM 8.6 (9.7) SCA
  smooth935 7.8 (7.2) NE
  KIIS 101.1 5.3 (5.1) ARN
 Nova 100 6.8(6.1)NE
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Gold Coast Ratings

1 Hot Tomato 14.2 (14.1) HT
2 Gold FM 11.9 (14.3) SCA
3 Sea FM 9.6 (9.5) SCA
4 ABC 91.7FM 7.9 (6.7) ABC
5 triple j 7.8 (9.4) ABC
6 ABC612 5.2 (3.3) ABC
7 Radio National 2.5 (2.3) ABC
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Christchurch Ratings

 

  Newstalk ZB 10.7 (11.7) NZME
  More FM 16.8 (14.3) Mediaworks
  The Breeze 10.2 (10.8) Mediaworks
  The Rock 8.3 (11.0) Mediaworks
  The Edge 7.7 (7.4) Mediaworks
  The Sound 10.8 (9.2) Mediaworks
  The Hits 3.7 (4.3) NZME
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Canberra Ratings

  104.7 17.9 (18.8) SCA
  ABC666 15.9 (15.3) ABC
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  triple j 8.2 (8.2) ABC
  2CC 6.8 (6.1) Capital
  2CA 6.0 (5.5) Captial
  Radio National 3.9 (3.6) ABC
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Brisbane Ratings

 

 97.3FM12.1(11.7)ARN
 Nova 106.9 14.4(13.7)NE
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Auckland Ratings

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Adelaide Ratings

 

  Mix 102.3 14.5 (12.6) ARN
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 ABC89110.9(11.0) ABC
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  Triple M 9.7 (9.3) SCA
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 triple j 4.9 (5.4) ABC
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CompanyStock IDPriceChange
Southern Cross Media
SXL
1.59
0.00%
APN News & Media
APN
3.44
-0.29%
Fairfax Media
FXJ
0.940
-1.05%
Macquarie Radio
MRN
0.935
-2.60%
Pacific Star Network
PNW
0.250
0.00%
Oceania Capital
OCP
1.85
0.00%
Ten Network
TEN
1.29
0.00%
Seven West Media
SWM
0.720
-2.70%
Nine Entertainment
NEC
0.960
-0.52%
Prime Media
PRT
0.265
-3.64%

 

 

 
 
 

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