TMCNet:  Prime radio arm 'not for sale'

[November 28, 2012]

Prime radio arm 'not for sale'

Nov 28, 2012 (The Australian - ABIX via COMTEX) -- Prime Media CEO Ian Audsley claims its troubled radio business is not for sale despite no hint of a rebound in the advertising market in the short term. Prime's total revenue rose 6.4% to $A273.5m in 2011-12 due to a record year for ratings and revenue in its TV business, a Seven Network affiliate. Radio revenue fell $A400,000, or 1.9%, and Prime lodged a $A5.3m impairment charge on its radio assets. Audsley says radio complements its TV business.


Publication Date: 29 November 2012 PRIME MEDIA GROUP LIMITED - ASX PRT SEVEN NETWORK LIMITED SEVEN WEST MEDIA LIMITED - ASX SWM

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