This follows a lawsuit lodged last week by her former on-air partner, Kyle Sandilands, who is also arguing his contract was wrongfully terminated.

Major legal headache

The lawsuits could be ruinous for the company, with each aggrieved party employed under a $100 million contract that stretched out to 2034.

The lawsuits spring from an on-air falling out between the pair on The Kyle and Jackie O Show, after which Jackie O – real name Jacqueline Henderson – refused to go back on air with Sandilands.

Ms Henderson, at the time, ARN said, gave notice that she "cannot continue to work with Mr Kyle Sandilands."

ARN Media said then that it had terminated its agreement with Henderson, while offering her the possibility of another show on the network.

The company said in its statement to the ASX on Tuesday that Ms Henderson had now formally filed a suit against it.

The company added:

In summary, the applicants claim that the termination of Ms Henderson's contract constituted adverse action. Ms Henderson sent a 'Complaint Letter' to Commonwealth Broadcasting Corporation which noted that Ms Henderson "cannot continue to work with Mr Kyle Sandilands" and made psychosocial health and safety and bullying complaints in relation to the conduct of Mr Kyle Sandilands on and prior to 20 February 2026. It is alleged that the Complaint Letter involved the exercise or proposal to exercise workplace rights, and that the contract was terminated because of that exercise or proposed exercise, in alleged contravention of section 340 of the Fair Work Act 2009 (Cth). It is also alleged the termination of her contract amounted to a repudiation of that agreement.

ARN said Ms Henderson was claiming compensation of "at least" $82.25 million, plus a pecuniary penalty.

ARN said it disputes the claims and intends to defend the proceedings.

The company added:

Given the early stage of the matter, ARN is unable to reliably estimate the outcome or any potential financial impact.

Shock jock aggrieved

Sandilands' claim, filed last week, did not include a dollar figure; however, it did ask for "specific performance of two contracts", with the quantum likely to be in a similar range to Henderson's.

ARN said Sandilands is claiming that, "the termination of Mr Sandilands' contract was invalid on the basis they allege that there was no act of serious misconduct or breach of contract, and that the termination was unconscionable under the Australian Consumer Law''.

Taken together, if successful, the two legal claims would dwarf the size of ARN Media, which was last valued at $90.8 million. The company's shares were 3.5% lower at 28 cents on Tuesday morning.

The post The Kyle and Jackie O saga continues, with a massive new legal claim filed appeared first on The Motley Fool Australia.

Sandilands, half of the long-running The Kyle and Jackie O Show, has been off air since a falling out with co-host Jacqueline Henderson on February 20.

ARN Media said earlier this month that Henderson later gave notice that she "cannot continue to work with Mr Kyle Sandilands."

At the time, ARN Media said it had terminated its agreement with Henderson, while offering her the possibility of another show on the network.

ARN also said on March 3 it had written to Sandilands, saying "that it considers that Mr Sandilands' behaviour during the show on 20 February 2026 is an act of serious misconduct which is in breach of ARN's services agreement with Quasar Media, under which Mr Sandilands presents The Kyle and Jackie O Show".

Sandilands was given 14 days "to remedy this breach".

Contract terminated

ARN said last week that it had now issued a notice of termination of contract to Sandilands and his company, Quasar Media, and as a result, The Kyle and Jackie O Show will no longer be presented.

Sandilands said at the time that he didn't accept the termination and would take ARN to court.

Sandilands hits back

On Monday, ARN confirmed that a legal claim against it had been lodged.

As the company said:

The proceedings have been filed in the Federal Court against ARN and Commonwealth Broadcasting Corporation Pty Ltd (CBC), a subsidiary of ARN which is the licence holder for KIIS 1065 Sydney and contracted with Mr Sandilands and his services company. Unsealed copies of Court documents in respect of the proceedings were served on CBC on 20 March 2026 after market close. In summary, the applicants claim the termination of Mr Sandilands' contract was invalid on the basis they allege that there was no act of serious misconduct or breach of contract, and that the termination was unconscionable under the Australian Consumer Law. The applicants seek an order for specific performance of two contracts, payment of whatever amounts are due and payable under the contracts at the time of judgment, and damages.

ARN said it disputed the claims and intended to defend the proceedings.

Sandilands' contract is worth $100 million and was due to run for 10 years until 2034.

His contract alone is not far off the entire worth of ARN, which was valued at $103.3 million at the close of trade on Friday.

ARN shares were trading 4.5% lower on Monday at 31.5 cents.

The post Which media company's shares are on the slide after big legal news? appeared first on The Motley Fool Australia.

On-air feud

Sandilands was the co-host of The Kyle and Jackie O Show along with Jacqueline Henderson, however, the pair had a falling out during a broadcast on February 20.

ARN Media said earlier this month that Henderson later gave notice that she "cannot continue to work with Mr Kyle Sandilands."

At the time, ARN Media said it had terminated its agreement with Henderson, while offering her the possibility of another show on the network.

ARN also said on March 3 it had written to Sandilands, saying "that it considers that Mr Sandilands' behaviour during the show on 20 February 2026 is an act of serious misconduct which is in breach of ARN's services agreement with Quasar Media, under which Mr Sandilands presents the Kyle and Jackie O show''.

Sandilands was given 14 days "to remedy this breach".

ARN said today that it had now issued a notice of termination of contract to Sandilands and his company, Quasar Media, and as a result, The Kyle and Jackie O Show will no longer be presented.

In a statement quoted in The Guardian and other media, Mr Sandilands said he didn't accept the termination.

He said:

I don't accept it. My lawyers told them last week this would be invalid. And guess what? It is. ARN knew exactly what they were getting when they signed my deal. They've worked with me for over a decade. They knew how I work, they knew the show, and they were happy to pay for it – because I delivered. Number one ratings. Year after year. Hundreds of millions of dollars in revenue for their business. I held up my end. I always have.

Legal cost could be huge

The legal battle over the show could be worth north of $100 million, with both Sandilands and Henderson on separate $100 million contracts signed in 2024 and running for 10 years.

ARN also told the ASX earlier this week that the Australian Communications and Media Authority (ACMA) had imposed licence commissions on the broadcaster following an investigation into The Kyle and Jackie O Show.

The conditions, imposed for five years, included that the broadcaster must comply with the decency provisions of the Broadcasting Services Act and that the program should not broadcast content that was highly offensive or that contained strong and explicit sexual references.

ARN shares are down about 44% over the past 12 months and were trading 1.5% lower at 33.5 cents on Wednesday morning.

The post ARN Media has torn up Kyle Sandilands' contract – so how much could it cost them? appeared first on The Motley Fool Australia.

One such company is Airtasker Ltd (ASX: ART). It claims to be Australia's leading online marketplace for local services, connecting people and businesses that need work done with people who want to work.

Airtasker shares have been trending higher in the last couple of weeks, as shown in the chart above. I believe there is plenty more to come over the long term.

High gross profit margin

Airtasker has an enormous gross profit margin of more than 90%, which means that almost all of its revenue turns into usable gross profit. With gross profit, the business can spend on growth activities such as advertising and development while also potentially achieving stronger cash flow and better earnings before interest, tax, depreciation and amortisation (EBITDA) margin.

The business is now achieving profit rather than losses, which is an important milestone.

In the third quarter, Airtasker achieved a positive free cash flow of $2.5 million, an improvement of $5.1 million year over year. The group EBITDA was $0.6 million in the third quarter, up $1.5 million compared to the prior corresponding period.

Thanks to growing scale benefits, I think the cash flow margin and EBITDA margin can significantly increase in the coming years.

Strong revenue growth

With good margins, the ASX small-cap share just needs to grow its revenue to deliver good financial progress.

The business revealed its group revenue was $12.2 million in the third quarter of FY24, with Airtasker marketplace revenue growing by 11.5% to $10.1 million.

The company said the revenue growth was driven by a "recovery in consumer demand (posted tasks) from the prior year as well as successful funnel optimisation programs, including a revised cancellation policy designed to improve platform reliability and address task leakage."

Those programs saw cancellations reduce by 23.9% year over year, resulting in the 'monetisation rate' improving by 12.8% year over year to 20.5% for the ASX small-cap share.

Airtasker recently made agreements with media businesses oOh!Media Ltd (ASX: OML) and ARN Media Ltd (ASX: A1N) for $11 million to grow its brand awareness.

Large addressable market

Users can advertise almost any task on Airtasker, including removalists, home cleaning, furniture assembly, deliveries, gardening and landscaping, painting and other handyperson work, business and admin, photography, and many more. There are many categories with a high annual value of work.

Airtasker is growing rapidly in the United Kingdom — a much bigger market than Australia — partly thanks to its partnership with Channel 4. In the FY24 third quarter, UK posted tasks increased by 49.1% year over year.

It has a smaller presence in the United States, but it's growing there too. FY24 US gross marketplace value (GMV) went up 23% from a small base. It's seeing "healthy growth" in marketplace activity while "maintaining a disciplined approach to investment" as it explores "several media partnership opportunities."

I think the international growth could power this ASX small-cap share much higher.

The post Why I'm bullish about this exciting ASX small-cap share appeared first on The Motley Fool Australia.

The stock was up 22% in earlier trade and remains up 17.8% at the time of writing.

Any guesses?

If you said Southern Cross Media Group Ltd (ASX: SXL), go to the head of the virtual class.

The Southern Cross Media share price closed yesterday trading at 73 cents. Shares are currently swapping hands for 86 cents apiece.

Here's why the ASX All Ords share is rocketing higher today.

What's happening with Southern Cross Media shares?

Investors are bidding up the ASX All Ords share after the company announced it has received a non-binding indicative proposal from ARN Media Ltd (ASX: A1N) and Anchorage Capital Partners Pty Ltd to acquire 100% of its fully diluted share capital.

The proposal offers 29.6 cents in cash along with 0.753 ARN Media shares per Southern Cross Media share.

Based on Tuesday's closing price of 85.5 cents per ARN share, this implies a total value of 94 cents per share. That's still 9% below where the ASX All Ords share is trading at the time of writing. And, as ARN notes, that's "before taking into account the benefit of any franking credits distributed in connection with the proposed transaction".

Should it go through, ARN said the transaction and separation will result in two distinct national media organisations which would compete independently on metro and regional radio.

Commenting on the offer that's sending the Southern Cross Media share price soaring today, ARN CEO Ciaran Davis said:

There is a significant value creation opportunity bringing together certain ARN and SCA radio and digital audio assets. ARN is ideally positioned to support and operate an expanded regional radio network and as a combined group of scale in digital audio, positioned to compete efficiently and effectively with international competitors.

Southern Cross told shareholders that the takeover proposal is "unsolicited, complex, and highly conditional".

Management of the ASX All Ords share recommended shareholders do not take any action at this time.

They said the offer remains subject to the unanimous recommendation of the Southern Cross board, due diligence, along with shareholder and regulatory approvals from the ACCC and ACMA.

Southern Cross Media has appointed Grant Samuel as its financial adviser and Corrs Chambers Westgarth as its legal adviser to further study the proposed takeover.

Stay tuned.

How has this ASX All Ords share been tracking longer-term?

With today's big boost factored in, the Southern Cross Media share price is down 7% over the past 12 months.

The ASX All Ords share is down 20% in 2023.

The post Guess which ASX All Ords share just rocketed 22% on takeover news appeared first on The Motley Fool Australia.

Here's why these five stocks really defined the week.

ASX shares that leapt onto the list on Monday

Pointsbet Holdings Ltd (ASX: PBH) locked in its place on this list on Monday.

Shares in the sports betting company took off right from the opening bell and closed the day up a remarkable 21.6%.

Investors were scrambling to get their hands on the ASX share after it reported receiving an unsolicited non-binding indicative offer from United States rival DraftKings to acquire its US business. DraftKings proposed to pay US$195 million in cash.

Pointsbet gave DraftKings until after market close on 27 June to complete its due diligence and finalise its proposal. Stay tuned.

Also making our five defining ASX shares of the week list on Monday was lithium developer Lake Resources N.L. (ASX: LKE). Though for decidedly different reasons.

The Lake Resources share price crashed 20.0% on Monday after releasing an operational update for its Kachi brine project, located in Argentina.

As you'd expect from the heavy selling, the update fell far short of market expectations.

The biggest disappointment looks to be a delay in battery-grade lithium carbonate production at the project. This was pushed back to 2027, later than expected.

Lake Resources also is facing some hefty costs to reach phase one of its production plans. Capital costs are estimated in a range of US$1.1 billion to US$1.5 billion. Phase one is targeting 25,000 tonnes per annum (tpa) of battery-grade lithium carbonate production.

Other big movers during the week

The third ASX share to make the list this week is tech share Xero Limited (ASX: XRO).

On Tuesday, the cloud accounting platform provider notched its fifth consecutive day of gains. The ASX share closed the day up 1.4% at $119.88 per share.

That saw the Xero share price up 70% in 2023 and marked a fresh 52-week high.

Also making the top five defining ASX shares list on Tuesday was Southern Cross Media Group Ltd (ASX: SXL).

Shares in the media company closed the day up 20.1% after reporting that rival ARN Media (ASX: A1N) – which owns KISS FM – acquired a 14.8% interest in Southern Cross Media for the tidy sum of $38.3 million.

ARN said it sees Southern Cross Media as "representing attractive value for ARN Media's shareholders".

Which brings us to the fifth ASX share that defined the week, gold miner Gold Road Resources Ltd (ASX: GOR).

Gold Road made the list on Thursday when the $1.6 billion gold stock suffered an 8.3% fall in its share price.

Investors were hitting the sell button following an update on the miner's expectations for its Gruyere Gold Mine.

Gold Road reported that a combination of inclement weather along with issues with blasting resources and production drills had negatively impacted ore and waste mining at the mine. This saw the ASX share downgrade its 2023 annual production guidance.

The post 5 ASX shares that defined the week appeared first on The Motley Fool Australia.

In morning trade, the ASX All Ords share was up as much as 30% to 98.5 cents.

The media company's shares have pulled back a touch since then but remain up over 21% to 92.5 cents.

Why is this ASX All Ords share rocketing?

Investors have been buying Southern Cross Media shares after the company revealed that one of its rivals has acquired a substantial stake.

According to the release, KIIS FM's owner ARN Media (ASX: A1N) has acquired an interest of 14.8% in Southern Cross Media for $38.3 million. This is close to the maximum shareholding that ARN Media, formerly known as HT&E, is allowed.

The release notes that under the Broadcasting Services Act 1992 (Cth) (BSA), ARN Media would be deemed to control Southern Cross Media's commercial radio and television broadcasting licences if it were to hold an interest of 15%.

However, because Southern Cross Media and ARN Media control the maximum permitted two commercial radio broadcasting licences in all metropolitan markets and several regional markets, the BSA prohibits ARN Media from holding an interest of 15% or more in Southern Cross Media.

Why has it acquired the stake?

ARN Media has only provided a small statement regarding this investment. It said:

ARN Media acquired the stake as a strategic equity investment in a sector that it knows well and sees the equity position in Southern Cross Media as representing attractive value for ARN Media's shareholders.

It appears that some investors agree with this view and have been piling into the ASX All Ords share today. They may also be anticipating a full takeover in the future. Time will tell if that is the case, but ARN Media certainly has its foot in the door.

The post Why did this ASX All Ords share just surge 30%? appeared first on The Motley Fool Australia.

But not all All Ords shares are having such a down day today. So let's take a look at three All Ords shares that are making their investors very happy.

3 ASX All Ords shares bucking the market on Monday

Audinate Group Ltd (ASX: AD8)

Audio visual technology share Audinate is our first All Ords stock worth a look today. Audinate shares are tearing it up this Monday. The company is currently enjoying a massive 11.85% rise at present, putting the Audinate share price at $8.02 a share:

This comes after Audinate reported its half-year results for the first half of FY2023 this morning. As we covered this morning, the company reported an impressive 39.3% rise in revenues to US$20.6 million, while gross profits were up 30% to US$14.5 million. Clearly, investors have been delighted by what the company had to say.

HT&E Ltd (ASX: HT1)

Next up, we have All Ords media and advertising share HT&E. Here, There and Everywhere, the company formerly known as APN News and Media, has had no fresh news or earnings out today. But that didn't stop the company's shares from rocketing 10% to $1.32 apiece at one stage this morning. They've now settled 3.75% higher at $1.245 a share:

This could have something to do with speculation that HT&E could be the target of a takeover offer. According to reporting in The Australian, the company's financials have spurred some potential suitors, including some private capital firms, to weigh up their options.

Helios Energy Ltd (ASX: HE8)

Finally today, we have the All Ords oil and gas hopeful Helios Energy. Helios shares are another ASX winner this Monday, with the company up a lucrative 8.59%, to 10.75 cents per share:

Helios hasn't put anything new out today. However, ASX energy shares are collectively surging today, thanks to rising oil prices. As my Fool colleague flagged this morning, WTI crude rose 2.2% last Friday, while Brent crude was up 2.4% to US$86.52 a barrel.

Thanks to these gains in the oil markets, oil shares ranging from All Ordinaries small-cap players like Helios to giants like Woodside Energy Group Ltd (ASX: WDS) are putting on very pleasing performances.

The post 3 ASX All Ordinaries shares going gangbusters on Monday appeared first on The Motley Fool Australia.

Which stocks to buy?

Fortunately, the team at Celeste Funds Management this week explained why they love three of their holdings for the long run, despite mixed recent performance.

'Strong' update belying the share price tumble 

Insurance services provider PSC Insurance Group Ltd (ASX: PSI) saw its share price plunge 5.2% over January.

That puzzled Celeste analysts, who thought a late December operational update was "strong".

"Trading in 1H23 was ahead of budget with underlying EBITDA growth of 18% to 20% on the prior corresponding period," stated Celeste's memo to clients.

"Given strong 1H23 performance, the full year result is expected to come in at the top-end of the guidance range."

Last May, PSC announced that it was entering into a joint venture with AUB Group Ltd (ASX: AUB) for the retail business of UK brand Tysers.

Unfortunately, that still hasn't got off the ground, due to delays with regulatory approvals from British authorities.

That may have had a bearing on PSC's share price, but Celeste analysts insisted "both companies remain committed". 

"On a global macro level, the January reinsurance renewals should underpin further hardening of insurance premiums and provide a solid tailwind for broker earnings growth."

The PSC share price is up 1.94% compared to a year ago, while paying out a 2.5% dividend yield.

Big sale could return capital to investors

The HT&E Ltd (ASX: HT1) stock price went the opposite way last month, rising a spectacular 16.1%.

The Celeste team attributed this to its jettison of a peripheral business.

"Early in the month, the company announced it had signed a binding agreement to sell its 25% interest in CPaaS business Soprano to Potentia Capital for $66.3 million cash," read the memo.

"The sale price implies an 8.8x multiple on FY22 EBITDA and comes after a previous non-binding agreement to sell the stake to Link Mobility Group AS (OSE: LINK) was terminated in September 2021."

The sale means shareholders of the media company could benefit, either directly or indirectly.

"The disposal of the non-core asset likely moves HT&E to a net cash position providing capital flexibility to both continue to invest in the core radio business and potentially return capital to shareholders."

Despite the great start to 2023, HT&E shares have still plunged more than 44% over the past 12 months.

Portfolio grows 10% in six months

Litigation finance provider Omni Bridgeway Ltd (ASX: OBL) enjoyed an 11.6% boost in its stock price in January.

According to Celeste Funds analysts, the company reported a "strong" December quarter that took the total estimated portfolio value up to $29.8 billion.

That's 10% higher than what it was on 30 June.

"There remains $228 million of indicative opportunities in the investment pipeline, which, if converted, would make up an additional 41% of the FY23 commitments goal."

The Celeste team also noted how a particular investment was offloaded during the quarter.

"The secondary market continues to prove useful in accelerating cash returns."

Omni Bridgeway is also growing overseas.

"The business expanded its geographic footprints in Europe and the US, which should further the diversification of the portfolio and maintain OBL's global competitive advantage."

The Omni Bridgeway share price is up almost 9% over the past year.

The post 3 small-cap ASX shares Celeste is riding off into the sunset on appeared first on The Motley Fool Australia.

Despite posting a strong start to Tuesday's session ­– it jumped as high as 0.47% in early trade – the benchmark index tumbled to a two-month low this afternoon.

Right now, the All Ordinaries is down 1.62% at 7,104.7 points.

Fortunately, though, not all its constituents are suffering. We've rounded up three that are posting gains of as much as 7%. Let's take a look.

3 All Ordinaries shares posting whopping gains

The first All Ordinaries share defying today's tumble is Airtasker Ltd (ASX: ART). Stock in the online marketplace for services is leaping 2.9% to trade at 35.5 cents right now despite the company's silence.

Sadly, however, today's gain hasn't proven enough to boost the embattled share back into the long-term green. It's fallen 75% since it floated on the ASX in March 2021.

Next up is media and entertainment company HT&E Ltd (ASX: HT1). The All Ordinaries share is roaring 3.63% higher to swap hands for $1 apiece. Its gain comes on news of a major divestment.

The company today revealed it's agreed to sell its 25% stake in Soprano Design to Potentia Capital for around $66.3 million in cash.

If the name Potentia rings any bells, it's likely because it's the private equity firm that recently put in so-far-unsuccessful bids for both Tyro Payments Ltd (ASX: TYR) and Nitro Software Ltd (ASX: NTO).

Finally, the Neuren Pharmaceuticals Ltd (ASX: NEU) share price is rocketing 7.67% right now to trade at $8.56.

That's despite no news having been released by the All Ordinaries biopharmaceutical share.

Today's gain included, the stock is just 2.8% lower than the 15-year high it posted in November.

The post 3 ASX All Ordinaries shares defying today's downturn to rocket higher appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:

HT&E Ltd (ASX: HT1)

The HT&E share price is up over 3% to 99.7 cents. This morning the advertising and media company announced the sale of its ~25% interest in Soprano Design to Potentia Capital for $66.3 million. Management believes the all-cash deal will allow the company to focus on its position as a leading provider of audio services in Australia.

Seven West Media Ltd (ASX: SWM)

The Seven West Media share price is up 2.5% to 40.5 cents. This follows news that the company has signed a new agreement with Cricket Australia. The seven-year deal extends the company's media rights from the 2024-25 season to the 2030-31 season. Seven West Media will be paying $65 million a year, which is a 13% reduction on its previous deal.

Tabcorp Holdings Limited (ASX: TAH)

The Tabcorp share price is up 2% to $1.10. This is despite there being no news out of the gambling company. However, given its relatively defensive earnings, investors may see it as a safe haven during the current market volatility.

Weebit Nano Ltd (ASX: WBT)

The Weebit Nano share price is up 6% to $3.45. This morning, the semiconductor company announced that it has released its first 22-nanometre demonstration chip to manufacturing. Weebit Nano's demo chip aims to provide a low-power, cost-effective embedded non-volatile memory solution able to withstand harsh environments.

The post Why HT&E, Seven West Media, Tabcorp, and Weebit Nano shares are rising appeared first on The Motley Fool Australia.

But while the ASX All Ords index rises, some shares are struggling to keep up.

For some, lacklustre reports are driving this underperformance.

But for others, it's because their shares are turning ex-dividend. This means they're no longer trading with the upcoming dividend payment attached to it.

When a company's shares turn ex-dividend, they typically drop. After all, these dividends are being paid out of the company's cash reserves.

While the extent of the fall is usually in proportion to the size of the dividend, it varies based on market sentiment.

So, here are three ASX All Ords shares trading ex-dividend today. Unsurprisingly, their share prices are in the red.

Codan Limited (ASX: CDA)

This ASX tech share is trading without its final dividend today. At the time of writing, the Codan share price is sliding 4.1% to $6.97.

Last week, Codan declared a fully franked final dividend of 15 cents. 

Investors who held Codan shares when the market closed yesterday should see the payment land in their accounts on 7 September.

Codan's total FY22 dividends come in at 28 cents, up slightly from 27 cents in FY21.

This puts Codan shares on a trailing dividend yield of 4.0%, which amps up to 5.7%, including franking credits.

Baby Bunting Group Ltd (ASX: BBN)

ASX retailer Baby Bunting is another ASX All Ords share going ex-dividend today.

Baby Bunting shares are now trading without the company's fully franked final dividend of 9 cents. 

This is likely contributing to the 3% fall in the Baby Bunting share price at the time of writing.

Investors who were on the company's share register by the time the market closed yesterday should pencil in a payment date of 9 September.

Baby Bunting achieved another year of dividend growth, with total FY22 dividends coming in at 22.3 cents. 

This means Baby Bunting shares are currently flaunting a trailing dividend of 4.9%. Throwing franking credits into the mix bumps up this yield to 7%.

HT&E Ltd (ASX: HT1)

Rounding out this trio of ASX All Ords shares going ex-dividend today is media and entertainment business HT&E.

The company recently announced its first-half FY22 results, declaring a fully franked interim dividend of 5 cents per share. 

This is up 43% compared to HT&E's interim dividend in FY21. 

At the time of writing, the HT&E share price is down 4.58%, trading at $1.355.

If you owned HT&E shares when the market closed on Wednesday, you should be entitled to this dividend. Keep your eyes peeled for the funds to land in your account on 15 September.

HT&E shares are currently trading on a trailing 12-month dividend yield of 6.5%, or 9.3% grossed up.

The post 3 ASX All Ordinaries shares going ex-dividend today appeared first on The Motley Fool Australia.

• Traditional ASX media shares could be among the winners this reporting season, according to UBS
• The broker identified four tailwinds that could bolster earnings in the sector
• All traditional ASX media shares under UBS' coverage are rated as "buy"

The reporting season is about to kick off and a leading broker reckons that traditional ASX media shares could fare well this month.

This is because the sector is enjoying four tailwinds, according to UBS. These factors could boost their earnings when they hand in their results in a few weeks.

ASX media shares that are rated "buy"

The broker's bullish view is reflected in its "buy" recommendation for all the traditional ASX media shares under its coverage.

These include the HT&E Ltd (ASX: HT1) share price, Nine Entertainment Co Holdings Ltd (ASX: NEC) share price, News Corporation (ASX: NWS) share price, Seven West Media Ltd (ASX: SWM) share price and Southern Cross Media Group Ltd (ASX: SXL) share price.

"In traditional media, our focus will be on the 2H outlook, which may provide evidence on the sustainability of the post-COVID rebound in FTA ad spend," said UBS.

"[Although] in radio we believe any potential trajectory towards pre-COVID levels may continue to be delayed given its advertisers appear to be more impacted by COVID-19 (e.g. local direct advertising, retail)."

Earnings tailwinds

The strength in the combined TV ad market, particularly in the first half, is one of the tailwinds that UBS has identified.

Another is the deal that traditional Australian media companies have struck with Facebook, now Meta Platforms Inc (NASDAQ: FB), as well as Google, which is owned by Alphabet Inc (NASDAQ: GOOGL) (NASDAQ: GOOG).

The deal will see these online giants pay content creators for their news stories. Nine Entertainment stands to get around $30 million to $40 million added to its earnings before interest, tax, depreciation and amortisation (EBITDA).

Other growth drivers for ASX media shares

Revenue growth in the digital assets of these ASX shares is the third driver highlighted by UBS.

The broker also points to the balance sheet repair that was undertaken by the sector through asset sales and capital raises. This will allow the sector to resume paying dividends, undertake capital returns and make acquisitions.

The only negative trend that could weigh on the sector is rising costs due to cyclical factors and the loss of the government's COVID-19 support payments.

The other good news is that rising interest rates and inflation are less likely to negatively impact the group compared to their online peers, such as Carsales.Com Ltd (ASX: CAR) and SEEK Limited (ASX: SEK).

The post 4 reasons to buy these ASX media shares this month: UBS appeared first on The Motley Fool Australia.

This means that it's now more important than ever to avoid the speculators and buy up businesses that actually have firm growth prospects.

"We expect central banks to raise interest rates fairly sharply over the next 18 months to more 'normal' levels," read a memo to clients from IML analysts.

"As such, we continue to steer away from the riskier parts of the sharemarket and remain focused on identifying and holding what we assess to be good quality companies, are well managed, which offer sound value, and which can grow their earnings and do well over the next 3 to 5 years."

Here are 2 such examples from IML's Australian Smaller Companies Fund:

The company you've never heard of, but actually have

The name HT&E Ltd (ASX: HT1) — short for Here, There and Everywhere — may not be familiar to many investors.

But they have likely heard the company's product sometime — in their car, on their smart speaker or even while shopping.

The company owns the Australian Radio Network, which runs many popular radio stations like the KIIS network, Chemist Warehouse Remix and the Pure Gold network.

It also runs outdoor advertising, from its roots as APN News & Media.

The IML team loved HT&E's $308 million acquisition of regional radio network Grant Broadcasters late last year.

"This acquisition is an excellent fit for HT1 as it creates a truly national radio network that will give the company added reach and the enhanced ability to fulfil national briefs for agencies and larger advertisers."

The memo also noted that HT&E had resolved its dispute with the Australian Taxation Office for "less than half the amount originally sought". 

"With buoyant ad market conditions expected to continue into 2022, HT&E remains good value on a PE of 12 times FY22 and a yield of over 4%."

HT&E shares are up about 11% over the past year. They closed Wednesday at $1.99.

Agricultural feed is a timeless demand

Ridley Corporation Ltd (ASX: RIC) is another ASX share that may not be immediately recognisable to retail investors.

The company, which produces animal feed and nutrition products, has seen its share price climb 66% over the past 12 months.

The IML team noted Ridley presented positive numbers at the annual general meeting late in the year.

"To November 2021, year to date EBITDA growth in both of Ridley's reporting segments had exceeded the 16% growth seen in the prior corresponding period," the memo read.

"In support of continued earnings growth, AGM commentary also highlighted further progress on delivering various business improvement initiatives, with the associated profit growth still to come."

Despite the negative impact of COVID-19 on some of its customers, Ridley itself has navigated the pandemic ably.

"While the spread of Omicron seems hard to avoid, safety practices and employee buy-in has resulted in little lost time to date," stated IML analysts.

"Despite the robust share price performance over the last 12 months, Ridley continues to look cheap, trading on a one-year forward PE of just 13x with a 3.8% dividend yield."

Ridley shares closed Wednesday at $1.56.

The post 2 cheapie ASX shares looking pretty for 2022 appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are dropping:

BrainChip Holdings Ltd (ASX: BRN)

The BrainChip share price is down 10% to 54.5 cents. Investors have been selling this artificial intelligence technology company's shares after it announced the appointment of its new CEO. According to the release, the company has appointed Sean Hehir as its new CEO, with effect from 29 November 2021. The market may have been hoping for a more experienced CEO or one with a background in artificial intelligence.

HT&E Ltd (ASX: HT1)

The HT&E share price is down 6.5% to $1.79. This follows the release of a trading update at the outdoor advertising and media company's annual general meeting. That update revealed that the company's growth has continued in the second half. However, it appears as though some investors were expecting stronger growth.

Platinum Asset Management Ltd (ASX: PTM)

The Platinum share price is down 2% to $2.91. This could have been driven by a broker note out of UBS last week. That note revealed that UBS has commenced coverage on the fund manager with a sell rating and lowly $2.25 price target.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price is down 1.5% to $2.44. Investors have been selling this coal miner's shares after a climate deal was reached at COP26. That agreement will see the world phase down coal use. Though, one slight positive for Whitehaven is that the wording of the agreement was changed late on from phase "out".

The post Why BrainChip, HT&E, Platinum, and Whitehaven Coal are dropping appeared first on The Motley Fool Australia.

HT&E describes itself as a leading media and entertainment business operating radio, audio and digital businesses in Australia as well as outdoor assets in Hong Kong.

Grant Broadcasters acquisition

HT&E has announced it's going to buy Grant Broadcasters radio and digital operations for $307.5 million on a cash and debt free basis.

Grant Broadcasters was described by HT&E as a family-owned business, which is the leading regional radio broadcaster in Australia. HT&E's Australian Radio Network (ARN) business is the number one metropolitan radio broadcaster in Australia.

The combined businesses will create a national broadcast network of scale made up of 58 radio stations and 46 DAB+ stations across 33 markets resulting in a presence in every state and territory in Australia.

Management believe this acquisition will unlock new growth markets and that it will provide the potential for "significant" digital audio expansion by accelerating the rollout of ARN's established iHeartRadio digital audio platform into regional areas.

Grant Broadcasters had annual pro forma revenue of $100.7 million and generated $35.5 million of pro forma earnings before interest, tax, depreciation and amortisation (EBITDA) in the 12 months to June 2021. The acquisition represents a pro forma EBITDA multiple of 8.7x and a pro forma earnings before interest and tax (EBIT) multiple of 10.3x.

Geelong Broadcasters Pty Limited and certain joint ventures are excluded from the transaction.

Financial impact

HT&E is going to fund this acquisition through its existing cash reserves, financing facilities and the issue of new HT&E shares. Approximately $238 million of this will be funded by cash and debt, while the rest will be funded by new shares issued at a HT&E share price of $1.93 per share.

This acquisition is expected to add 20% or more to earnings per share (EPS) on a pro forma 12-months to June 2021 basis. That's before the synergies and one-off integration costs.

Trading update and outlook

HT&E also gave a trading update as part of the announcement. Updates can have an impact on the HT&E share price.

Radio

ARN revenue for the three months to September 2021 grew 17% on the prior comparative period, with "consistent ratings and a strong commercial offering" driving increased yield on certain key stations. October radio revenue finished up 8.1%, ahead of the broader radio market, up 6.1%.

Management revealed that forward bookings are "pacing well ahead" of the same time last year, and radio revenue is expected to finish up between 5% to 10% for the quarter with a strong comparative period in 2020.

HT&E was pleased to say that digital audio revenue continued to gain "strong" traction and now averages around $1.5 million per month, up from $1 million in the previous quarter.

ARN operating costs are expected to be between $2 million to $3 million above 2019 levels.

Soprano

Soprano, a global communications solution for large enterprise and government that HT&E owns a stake of, maintained its "strong" financial performance for FY21.

Total revenue was up 25% to $93.9 million, gross profit increased 12% to $52.5 million and underlying EBITDA rose 23% to $27.2 million. This result was due to organic growth and the integration of the Silverstreet acquisition. HT&E said Sopranos' performance in the first quarter of FY22 to September 2021 achieved budgeted growth and it's on track to achieve its forecasts for the current quarter.

Cody Outdoor

Cody Out-of-Home has 450 outdoor advertising panels in Jong Kong, the tram shelters on Hong Kong Island, as well as growing taxi body advertising.

Full year revenue is expected to reach HKD 120 million to 125 million – up 40%. It has returned to being cashflow positive on a monthly basis.

HT&E share price snapshot

In the last month alone, HT&E shares have gone up around 40%.

According to the ASX, HT&E now has a market capitalisation of $548 million.

The post The HT&E (ASX:HT1) share price is up 7% on acquisition update appeared first on The Motley Fool Australia.

Not to spoil the surprise, but the media stocks that outperformed their peers probably aren't the ones you are expecting…

The 5 top performing ASX media shares of October

A quick note; this list only includes shares with market capitalisations of more than $100 million.

Enero Group Ltd (ASX: EGG)

The Enero share price has outperformed those of all its ASX media and communications-focused peers.

Through the month of October, it gained 30.69% to finish at $3.96.

Last month, Enero announced the September quarter had seen it with 22.6% more revenue and 50% more earnings before interest, tax, depreciation, and amortisation (EBITDA) than the same quarter of financial year 2021.

The company operates a number of brands in the communications and marketing spheres.

HT&E Ltd (ASX: HT1)

Coming in second best is HT&E, also known as Here, There & Everywhere.

The radio, audio, and digital content business saw its share price grow by 17.68% over the course of October to finish the month's final session at $1.93.  

The big news from HT&E last month was the settlement of a longstanding taxation dispute with the Australian Taxation Office.

IVE Group Ltd (ASX: IGL)

The IVE Group share price had a great October on the ASX. It gained 16.23% to end the period at $1.79.

The print and marketing company's stock was boosted by news of 2 acquisitions, both expanding IVE's retail display operations.

Gtn Ltd (ASX: GTN)

The Gtn share price also outperformed many of its peers over October, gaining 14.13% to finish at 52.5 cents.

Gtn – Global Traffic Network – provides traffic reports to radio stations in Australia, the United Kingdom, Canada, and Brazil. As compensation for supplying such reports, Gtn is generally given advertising slots. It then bundles and sells the slots to other parties.

There was no word from the company to explain its stock's surge last month.

NZME Ltd (ASX: NZM)

Finally, the crown for the fifth best performing media share of the month of October goes to NZME – New Zealand Media and Entertainment.

The company operates more than 50 print, radio, and digital media brands.

The NZME share price gained 13.27% over October. It finished the month trading at $1.11.

There were a number of announcements from NZME over October.

First, it updated the market on the impacts it was facing as COVID-19-induced lockdowns continued in New Zealand. The company's advertising revenue was hit by the lockdown. However, it remained 7% higher than during the prior corresponding period. The company also provided EBITDA guidance for the 2021 calendar year.

It later completed the sale of its GrabOne business.

The post These were the 5 best performing ASX media shares in October appeared first on The Motley Fool Australia.

However, it spent much of Tuesday in the red until an update from the media and entertainment company this afternoon saw a late rally.

Here are the details.

What was announced?

HT&E advised it disposed of its entire equity stake and shareholding in out-of-home advertising company oOh!Media Limited (ASX: OML) today.

The company disposed of the shares for $1.78 each, thereby obtaining gross proceeds of $49 million.

HT&E had originally acquired its 4.2% stake in oOh!Media in April 2020, as an "equity investment in a sector and assets it is very familiar with".

The disposal of the shares realised a gain of $31 million on its original investment of approximately $15 million to $18 million at the time. However, it has done little to fire up the HT&E share price.

The $49 million is a welcome accretion to HT&E's balance sheet after it recently resolved an ongoing tax dispute with the Australian Taxation Office (ATO).

Here the ATO was chasing answers and payment on a total of $195 million in reference to one of HT&E's New Zealand branches. The company reached the resolution on a sum of $71 million – far lower than most expected – being in the best interests of shareholders.

The better-than-expected result saw the HT&E share price soar by more than 30% on the day. It also had leading brokers smiling, as the majority of analysts had baked in a far greater penalty toward the company.

Leading broker Jefferies reckoned the company would foot a $90 million bill from the dispute and was subsequently surprised at the outcome.

It consequently raised its price target on the HT&E share price by around 9% to $2.50 per share, implying an upside potential of 38% at the time of writing.

Today, the HT&E share price was struggling around $1.80 at the time of announcement — down around 2.7% on the day — before bouncing back to its closing price of $1.85.

HT&E share price snapshot

The HT&E share price is currently exactly where it started the year, at $1.85. However, shares in the media company have rallied 17% in the last month and around 20% this past week.

In the last 12 months, HT&E shares have climbed more than 27%, a smidge ahead of the S&P/AX 200 index (ASX: XJO)'s return of 23% in that time.

The post What happened to the HT&E (ASX:HT1) share price on Tuesday? appeared first on The Motley Fool Australia.

HT&E shareholders have endured a bumpy ride these past few months but saw relief last week when the company's share price made a sharp turn to post a new 6-month high.

Here we unravel what's behind the move and what leading experts are saying on the outlook for HT&E investors.

What's up with HT&E shares lately?

After a period of losses where the HT&E share price marched towards its 52-week low, the company advised last week that its contest with the Australian Taxation Office (ATO) is now over.

The company confirmed it had settled a long-standing tax dispute involving $195 million in tax adjustments, interest, and penalties for a New Zealand branch.

It agreed to pay a sum of $71 million after lengthy consultation with its advisors, acknowledging it was in the best interests of shareholders.

Shares in Here, There & Everywhere popped almost 31% on the day of the announcement. The company gallantly stated that investors can now look to HT&E's future with more certainty.

Now that it has settled its dispute, how does this fare for the HT&E share price?

One leading broker has chimed in, lending its outlook on the future for the company's shares.

What is Jefferies saying about HT&E share price?

According to analysts at investment bank Jefferies, the settlement bodes well for HT&E shares. Jeffries agrees the outcome is a good one for the entertainment company.

It said widespread consensus had baked in the entire $195 million liability with the ATO in forecasting HT&E's earnings, not expecting this more favourable result.

Even the broker itself had included a $90 million assumption for the tax liability in its modelling — almost $20 million more than the eventual settlement.

Furthermore, it said "many investors would not consider investing in HT&E because of its complexity and the unknown quantum/timing of this [ATO] dispute".

As such, the broker reckons the settlement will lift the veil of uncertainty for some investors who were perhaps hesitant on HT&E shares.

This, it believes, "will now open a much larger investor universe including possible corporate interest".

From its updated modelling, the broker raised its price target on HT&E shares by almost 9% to $2.50 per share.

At current standing, this implies an upside potential of 35% for HT&E investors to clamp their teeth into.

HT&E share price snapshot

HT&E shares have climbed 23% in the last year and are around 1% in the red this year to date. That's well behind the benchmark S&P/ASX 200 Index (ASX: XJO)'s return of about 25% in the past year.

Despite this, the company's shares have rallied 12% in the past month and gained more than 21% in this past week of trading.

The post Why Jefferies sees 35% upside in the HT&E (ASX:HT1) share price appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why these ASX shares are charging higher:

HT&E Ltd (ASX: HT1)

The HT&E share price has surged 32% higher to $1.94. This morning the advertising and media company announced that it has reached a binding heads of agreement to settle the taxation dispute with the ATO for the sum of $71 million.

JB Hi-Fi Limited (ASX: JBH)

The JB Hi-Fi share price is up over 4% to $50.48. Investors have been buying this retail giant's shares after it was upgraded by a leading broker. According to a note out of Macquarie Group Ltd (ASX: MQG), its analysts have upgraded JB Hi-Fi's shares to an outperform rating with a $52.50 price target. The broker notes that consumer electronic purchases have rebounded strongly across its Macquarie Credit Card dataset.

Reece Ltd (ASX: REH)

The Reece share price is up 6% to $19.93. Investors have been buying the plumbing parts company's shares following the release of its first quarter update. That update revealed sales growth of 13.2% for the three months ended 30 September. In light of this, management is guiding to first half EBITDA growth of 8% to 11%.

ResMed (ASX: RMD)

The ResMed share price is up 5% to $37.36. This follows the release of a first quarter result ahead of the market's expectations. The sleep treatment focused medical device company reported a 20% increase in revenue to US$904 million and GAAP earnings per share of US$1.39. This compares to consensus estimates of US$860 million and US$1.24 per share, respectively.

The post Why HT&E, JB Hi-Fi, Reece, and ResMed shares are charging higher appeared first on The Motley Fool Australia.