Unmade Index: Seven West Media stock slumps to six-month low
Seven West Media today saw its shares hit their lowest point in nearly six months with a fall of 3.6%.
The $208m market capitalisation of Seven West Media is now just above that of audio company Southern Cross Austereo, which closed the day on $203m. The two companies plan to merge in the coming weeks.
It was a bad start to the week across the broadcast sector. Nine lost 0.8% while ARN Media declined by 2%.
Out of home company Ooh Media beat the trend, improving by 0.7%.
While the wider ASX All Ordinaries closed the day up by 0.34%, the Unmade Index, which tracks the listed media and marketing stocks, ended the day on 472.7 points, down by 0.37% on Friday’s close.