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Markets wrap: ASX falls, News Corp signs exclusive OOH deal, positive Q2 inflation data

The Reserve Bank has planned another interest rate hike this afternoon, meaning Australian shares are predicted to open lower on the ASX today.

The ASX200 closed 2.26% higher last week at 6945, for a 5.74% gain for July. The rally was supported by the continued rebound on Wall Street, and as last week’s Q2 Australian inflation data was not as high as feared.

Half-yearly and Q2 earnings reporting season is underway. The focus this year will be on quantity and quality of earnings and forward guidance.

Several Australian media holding companies are yet to release their earnings, while a number of global holding companies have revealed strong revenues and organic growth in the Asia Pacific region.

Read on for a summary of the latest news and market activity relating to Australian media stocks.

News Corporation:

  • News Corp Australia signed an exclusive multi-year partnership with oOh!media last week that will see their multimedia journalism feature on thousands of digital advertising screens and billboards across metro and regional locations.
  • As part of the deal, oOh!media will display NCA’s news and video content at thousands of sites across its national network, including public transport hubs, airports, street furniture, billboards, cafes, offices, bars and universities.
  • News Corp Australia has launched a new digital comparison product that will help Australians make decisions across a range of everyday money products  – including their credit cards, home loans, personal loans and car loans. The new product, called News Compare, will debut on under the Compare Money brand.
  • NWS stocks are looking up today: they currently trade at 24.70 AUD, up +0.31 

Seven West Media:

  • Seven West Media could end up losing out the broadcast and streaming rights to the AFL for the next five years to Paramount Global, after bids for the code closed last week. It would be the first time a foreign company owns the streaming rights to the AFL.
  • Seven West Media is set to release their Q2 earnings report mid August, with investors eager to see how Seven will perform after their  share price dropped
  • SWM shares trade at 0.46 AUD today.

Nine Entertainment Co.:

  • Nine’s long-drawn out court battle with decorated veteran Ben Roberts-Smith is finally coming to a close. Publisher Nine Entertainment accused the veteran of committing, or being complicit in, six murders on deployment.
  • More than 40 witnesses were called over 110 days of hearings, most with covert or tightly concealed identities. The judge’s verdict may be months away now that the trial has concluded.
  • The NEC share price is trading at 2.07 AUD today.
  • Nine Entertainment releases their Q2 earnings towards the end of August. NEC shares have dropped by -0.65 past 6 months.

Southern Cross Austereo:

  • SCA boss Grant Blackley said at a LiSTNR event in Sydney last week that the global podcasting trend posed a strong opportunity for the Australian market, while affirming that radio was solid as ever.
  • Blackley also hinted that a company name change may be on the horizon as SCA’s digital arm LiSTNR is the growth and centre of the business.
  • SCA shares trade at 1.18 AUD today.
  • Investors are still awatiting SCA’s Q2 earnings report: the share price of SXL has dropped -0.75 


  • HT&E is set to announce their half yearly earnings on Thursday 18th August 2022.
  • Last month, HT&E announced it had finalised the sale of its “4KQ” Brisbane radio station and license to a subsidiary of Sports Entertainment Group Limited.
  • HT&E stocks are currently trading at 1.28 AUD.
  • The 6 month stock tumble trend continues with HT&E, with the company seeing their share price fall -0.66 


  • In addition to the exclusive, multi-year News Corp partnership, oOhmedia! last week won City of Wanneroo, located in Perth’s northern suburbs, in a long-term out-of-home amenity partnership.
  • oOhmedia!’s share price trades at 1.24 AUD today.

The post Markets wrap: ASX falls, News Corp signs exclusive OOH deal, positive Q2 inflation data appeared first on Mumbrella.

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