E sold its 25 per cent stake in mobile messaging software firm Soprano Design for $66.3 million, though that deal is subject to regulatory approval. In August, the company said its net debt was $78.4 million.E is due to report its full-year results on Tuesday, February 21, with consensus estimates put its revenue up from $225 million in 2021 to $343.2 million in 2022 after a resurgence in audio and radio consumption post-COVID. Its pre-tax profit is forecast to be $63.4 million.
Consolidation in the Australian media sector has been predicted by senior industry leaders for years, as local players look to compete against global giants like Google, Meta , Amazon and Netflix., merged with Fairfax Media in 2018 and now owns assets in free-to-air broadcast, streaming, radio, print and digital media.