Australia's ARN Media falls to record low as legal case begins

ARN Media

31/03/2026 04:41

** ARN Media A1N.AX slides as much as 20.7% to record low of A$0.23

** Stock hits biggest intraday pct drop since August 20, 2015

** Entertainment co says Jacqueline Henderson, related co commence legal proceedings against co's unit Commonwealth Broadcasting Corporation (CBC)

** Proceedings relate to termination of Henderson's contract following complaint letter to CBC, citing psychosocial health, safety, bullying concerns linked to radio host Kyle Sandilands

** Co says applicants claim compensation of at least A$82.3 mln ($56.4 mln), payment of pecuniary penalty plus interest and costs

** Disputes claims, intends to defend proceedings

** Says unable to reliably estimate outcome or any potential financial impact

** YTD, AIN down 34.2%

($1 = A$1.4582)

 (Reporting by Aamir Sheik Khalid in Bengaluru)

 ((Aamir.SheikKhalid@thomsonreuters.com))