Southern Cross Media Enjoying Today's Recovery
Southern Cross Media reported a 13% decline in EBITDA for fiscal 2018, in line with our expectation, to AUD 155 million. Despite lower revenue from the sale of the northern New South Wales television business, fundamentals are encouraging with like-for-like sales up 0.6%. Critically, revenue growth has stepped up to 5% so far in fiscal 2019, while the continuing ratings recovery for the metropolitan radio unit is highly encouraging. A such, we have upgraded our fair value estimate for no moat-ra...Southern Cross Media Group is engaged in the creation and broadcasting of content on free-to-air commercial radio (AM, FM and digital), television and online media platforms across Australia.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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