Macquarie Media slashes guidance, cuts Your Money
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Macquarie Media (ASX:MRN), employer of controversial talkback host Alan Jones, has slashed full year guidance by almost 10 per cent.
The media company, which is 54.5 per cent controlled by Nine Entertainment, cut guidance from $29-32m to $27-29m.
It said trading conditions had fallen below expectations. Analysts say the slowing economy is having an impact on advertising.
Macquarie is in the middle of intense contract negotiations with Jones which news reports have described as “fraught”.
It has also cut the six-month-old Your Money program on Sky.