Last month James Parkinson, the Chairman of APN (parent company of the Australian Radio Network), commented on the company’s position on Australia’s proposed new Media Laws.

He said:

The Federal Parliament is again debating proposed changes to
legislation that would allow media companies to own more than one
category of media per market, defined as newspapers, TV or radio.

We
remain hopeful that sensible change will occur that will potentially
open up more opportunities for growth. Whilst APN’s ongoing growth is
not dependent on these changes being passed, the industry as a whole
should benefit, and we hope this would lead to an improved rating of
media stocks by the marketplace both nationally and internationally.

On the company’s world wide operations he said:

APN now operates media businesses across six countries. This broad
base of operations across a diverse range of local economies gives
APN a better asset base from which to sustain an improved
performance, particularly in times of economic uncertainty.

And commenting on the company’s Radio Division he said:

Good survey results in Australia and New Zealand show
programming strategies are attracting more listeners, particularly in
the target 25-54 demographic. Survey 2 in Australia in April showed
Australian Radio Network stations now hold either first or second
place with 25- 54 year-olds in the main markets of Sydney, Melbourne
and Brisbane. In New Zealand, survey results out last week show that
in the main market of Auckland, APN stations are number 1, 2, 4, 5
and 8, maintaining their leading position.

The Australian Broadcasting Authority has announced a review
regarding the timing of new licences. We welcome that review and the
opportunity to participate. APN encourages the ABA to review all
aspects of the proposed new licences, including whether new licences
will actually increase programming diversity, the optimal timing of
the introduction of new licences, the long-term commercial impact on
the radio industry and the ultimate effect on the quality of the
product that is broadcast to listeners.

Since the AGM, the company’s shares have generally traded higher than in the past few months.