Stock market analysts this week reported that the market has upgraded its earnings expectations for the media sector, which has
climbed more than 35% since a low of $7.69 in March this year. The sector is still
short of its record high of $13.60 set in May 2001.
A report in the Daily Telegraph says “those seeking
income should enjoy dividends yielding up to… 5.9% on forecast earnings.”
The report said Southern Cross Broadcasting is well placed to “benefit from what appears to be a slow but sure turnaround in
the advertising market.
The radio stations already generate more than $300
million a year in advertising revenue [and] … significant
growth opportunities exist.”