BUZZ-Australia's ARN Media hits record low as legal proceedings begin against co

Reuters

昨天

** ARN Media A1N.AX falls as much as 4.6% to all-time low of A$0.315

** Entertainment company says legal proceedings commenced by Kyle Sandilands

** Applicants argue termination of Sandilands' contract was invalid, claiming no act of serious misconduct, raising additional concerns

** Co disputes claims, intends to defend proceedings

** Last week, Australian Communications and Media Authority notified co it will impose conditions on licences of KIIS Sydney and Melbourne, following probe into 'Kyle & Jackie O Show'

** YTD, A1N slips 20.3%

(Reporting by Roshan Thomas in Bengaluru)

((Roshan.Thomas@thomsonreuters.com;))

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