Lachlan Murdoch Banks A Massive $53m From NOVA Entertainment

Lachlan Murdoch Banks A Massive $53m From NOVA Entertainment

it seems Lachlan Murdoch has learnt a thing or two from his media mogul father Rupert, if NOVA Entertainment’s latest financials are anything to go by.

The radio network’s latest financial accounts lodged with the Australian Securities & Investments Commission via Nova Entertainment Radio Investments Pty Ltd reveal that it “declared and/or paid” a $32.5 million fully franked dividend last year, according to Fairfax.

To make your eyes boggle even more, NOVA has declared and/or paid more than $53 million in dividends to one of Murdoch’s private investment companies, Illyria, over the last two years.

The accounts also show that NOVA’s net profit went up from $25.4 million to $29.4 million in 2017, while revenue jumped $8 million to $204.3 million.

It seems Murdoch’s $100 million takeover of NOVA in 2012 has turned out to be a pretty wise move.

 




Please login with linkedin to comment

Lachlan Murdoch Nova Entertainment

Latest News

Sydney Comedy Festival: Taking The City & Social Media By Storm
  • Media

Sydney Comedy Festival: Taking The City & Social Media By Storm

Sydney Comedy Festival 2024 is live and ready to rumble, showing the best of international and homegrown talent at a host of venues around town. As usual, it’s hot on the heels of its big sister, the giant that is the Melbourne International Comedy Festival, picking up some acts as they continue on their own […]

Global Marketers Descend For AANA’s RESET For Growth
  • Advertising

Global Marketers Descend For AANA’s RESET For Growth

The Australian Association of National Advertisers (AANA) has announced the final epic lineup of local and global marketing powerhouses for RESET for Growth 2024. Lead image: Josh Faulks, chief executive officer, AANA  Back in 2000, a woman with no business experience opened her first juice bar in Adelaide. The idea was brilliantly simple: make healthy […]