ARN share price sees massive crash on a bumpy day for the Unmade Index

Tim Burrowes

November 12, 2025 4:54

ARN Media’s grim update on the state of the Australian advertising market dragged down most stocks on the Unmade Index today.

The share price of ARN plunged by 9.7% after it told the ASX that its full year profits will fall by up to 27%, implying that its annual EBITDA profits will fall from $93.1m to around $70m. ARN Media’s market capitalisation ended the day on $152m.

ARN’s CEO Michael Stephenson has delivered shareholders a massive profit downgrade

Although ARN Media has its own specific problems with an ongoing activist campaign targeting advertisers that support The Kyle and Jackie O Show on Kiis, the wider advertising market is also under pressure.

Seven West Media’s share price fell by 3.6% today to land on a $204m market cap. Southern Cross Austereo, which will soon merge with SWM, lost 2.4% giving it a market cap of $196m.

The biggest stock on the Unmade Index, Nine, was one of the few to finish the day in positive territory, ending up by 1.8%. As a result, despite the sea of red, the Unmade Index was only down slightly closing on 456.8 points, down by 0.05% for the day.

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.