Category: Stock Market

Shares in Killi Resources Ltd (ASX: KLI) have more than doubled in value after the company revealed that former Fortescue Ltd (ASX: FMG) Chief Executive Officer Nev Power would join as Non-Executive Chair.

The company said in a statement to the ASX on Monday that Mr Power and two other successful resources executives, Steve Parsons and Michael Naylor, would join the company and would also take up shares in a new $1.4 million placement.

Following that, each of the three men would be “substantial” shareholders in the company, Killi said.

Exemplary track record

The company said regarding Mr Power:

Nev Power is an Australian engineer and corporate executive whose career spans more than four decades across mining, minerals processing, construction and steel making. Mr Power led the transformation of Fortescue Metals Group into one of the world’s major iron-ore producers. Under his leadership, Fortescue tripled its iron ore productions and dramatically reduced its production costs. Prior to joining Fortescue, Mr Power held Chief Executive positions at Thiess and the Smorgon Steel Group.

The share placement would be made at 3.8 cents per share, and part of the placement will be subject to approval by shareholders.

Killi has also agreed to issue Mr Power with 7 million performance rights in the company, which will vest if the company’s volume weighted average price is above 10 cents per share over 20 consecutive trading days following the issue of the rights.

The company also said geologist Hamish Halliday would join the company.

It said further re Mr Halliday:

Mr Halliday is a geologist with 30 years of corporate and technical experience, Mr Halliday has been involved in the discovery and funding of multiple, large scale, mineral projects across five continents. Mr Halliday has held numerous executive and non-executive roles in the mining industry since 2001. Mr Halliday founded Adamus Resources Limited, which he grew from a A$3M IPO to a multi-million ounce emerging gold producer. He also co-founded a number of other successful junior mining companies including: Gryphon Minerals, Venture Minerals, Renaissance Minerals, Alicanto Minerals and most recently Blackstone Minerals.

Shares on a tear

Killi Resources shares jumped 121.2% in early trade on Monday to be changing hands for 11.5 cents.

Killi Resources’ main focus is the Mt Rawdon project in Queensland, where it has been exploring for gold, copper, and molybdenum.

The company’s most recent exploration update indicates it has been conducting surface sampling at Mt Rawdon with a view to firming up drill targets for further exploration.

Killi also said Director Phil Warren would resign as a Director, effective April 1.

Kill was valued at $7.3 million at the close of trade on Friday.

The post Which mining minnow is up more than 100% after a former Fortescue exec joined the board? appeared first on The Motley Fool Australia.

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• How much could the Fortescue share price rise in the next year?
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• Should you buy the dip on ASX mining shares?
• How many Fortescue shares do I need to buy for $10,000 a year in passive income?
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The team at Bell Potter has been assessing which ASX 300 stocks could benefit from current trends in the industrial property sector.

Two that stand out according to the broker are named below. Let’s see what the broker is saying about them.

Bell Potter names two ASX 300 stocks to buy

The broker highlights that the stage could be set for strong rental growth in industrial property. This bodes well for a couple of ASX 300 stocks under its coverage. It said:

In our COTW we look at analysis compiled by leading industrial and logistics manager Hale Capital Partners, which recently successfully raised $800m for future deployment in Australia. Average annual forward supply over CY26-27 based on DA approved or under construction projects represents c.1.47m sqm of GLA, c.-38% below average annual net take-up of c.2.38m sqm GLA.

While Sydney is ‘more balanced’ but still a shortage, the imbalance is more profound in Brisbane and Melbourne where vacancy is currently higher (3.1% and 4.7% respectively vs. 2.9% in Sydney) but all of which should see an improving vacancy trend (peak vacancy in CY26) next few years given significant demand from e-commerce occupiers, and gap between replacement costs of capital values which we would expect to manifest in above trend rental growth.

Which stocks will benefit?

The first that could benefit according to Bell Potter is Dexus Industria REIT (ASX: DXI).

It has a buy rating and $3.00 price target on its shares. Based on its current share price of $2.37, this implies potential upside of 27% for investors.

In addition, the broker is expecting a very generous dividend yield of 7% from the ASX 300 stock over the next 12 months.

Combined, this means that a total potential return of approximately 34% is possible between now and this time next year for Aussie investors.

What else is being recommended?

A second ASX 300 stock that has been given the thumbs up by analysts at Bell Potter this morning is Centuria Industrial REIT (ASX: CIP).

The broker has retained its buy rating and $3.60 price target on its shares. Based on its current share price of $2.96, this implies potential upside of almost 22% for investors.

And much like Dexus Industria, Bell Potter is expecting an attractive dividend yield from the stock over the next 12 months. During this period, it is forecasting a yield of 5.8%, which increases the total potential return to approximately 27%.

The post These ASX 300 stocks could be top buys offering 25%+ returns according to Bell Potter appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Gold prices have dropped significantly, with the yellow metal recording its biggest weekly decline in decades.

According to Trading Economics, gold is now trading at US$4,345 per ounce, down 3.18%, after slipping below US$4,400 during the latest session. The move caps off a steep weekly fall, marking the largest drop since 1983.

The pullback follows a strong run earlier in the year and has left prices down more than 15% in the past month.

Oil, yields, and the US dollar hit gold

Gold’s sell-off comes as markets adjust expectations for inflation and interest rates.

Brent crude has surged to US$112 a barrel, up roughly 55% in a month, as the Middle East conflict raises supply concerns. At the same time, the US dollar index has pushed towards 100, while US Treasury yields have climbed to multi-month highs.

These moves have tracked the weakness in gold.

Markets are also pushing back expectations for near-term rate cuts, with cuts now expected further out. Market pricing now points to fewer cuts in late 2026, with central banks remaining focused on inflation.

Why one fund manager sees a buying opportunity

Despite the recent fall, some in the market see the pullback as an opportunity rather than a warning sign.

According to The Australian, VanEck’s head of investments and capital markets, Russell Chesler, commented on the recent weakness. He said it reflects short-term macro pressure rather than a change in gold’s long-term outlook.

Chesler highlighted continued central bank buying, elevated geopolitical risk, and persistent inflation pressures as key supports for the metal.

Central banks have been steady buyers of gold in recent years, helping support demand even during periods of volatility.

He also pointed to rising government debt levels and the risk of slower global growth, which have historically supported gold prices.

He believes the recent decline may offer a more attractive entry point following the strong rally earlier in the year.

What to watch from here

The next move in gold is likely to come down to interest rate expectations and the direction of the US dollar.

Any further strength in the dollar or another move higher in bond yields could continue to weigh on prices in the near-term. Oil prices will also be in focus, particularly if supply disruptions in the Middle East persist.

At the same time, central bank demand remains a key factor to watch. Recent years have seen consistent buying, which has helped support prices during periods of weakness.

The key question is whether these conditions persist. Changes in rate expectations and currency movements are likely to drive the next move in the gold price.

The post Gold tumbles in biggest weekly fall since 1983. Why one fundie sees a buying opportunity appeared first on The Motley Fool Australia.

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• These ASX 300 stocks could be top buys offering 25%+ returns according to Bell Potter

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The DroneShield Ltd (ASX: DRO) share price is taking a hit today.

Shares in the S&P/ASX 200 Index (ASX: XJO) drone defence company closed on Friday trading for $4.51. During the Monday lunch hour, shares are swapping hands for $3.89 apiece, down 6.3%.

For some context, the ASX 200 is down 1.2% at this same time.

Today’s underperformance is not par for the course for the ASX defence stock.

Despite today’s retrace, the DroneShield share price remains up 33.9% since market close on 6 February. And shares are still up a whopping 266.2% over 12 months, smashing the 4.9% one-year gains posted by the benchmark index.

But following the recent strong share price gains, Alto Capital’s Tony Locantro believes investors would do well to take profits (courtesy of The Bull).

Is the DroneShield share price stretched?

“DroneShield operates in the counter-drone defence technology sector, providing detection and mitigation systems used to protect military, government and critical infrastructure assets,” said Locantro, who has a sell recommendation on the ASX 200 stock.

According to Locantro:

The company has benefited from strong investor interest in defence and security technologies, with the share price rallying sharply over the past year in response to geopolitical tensions and intensifying defence spending narratives.

And investors may have gotten ahead of themselves by driving that 266% 12-month increase in the DroneShield share price.

Locantro noted:

While the long-term outlook for counter-drone solutions remains compelling, DroneShield’s valuation increasingly reflects significant future growth expectations. Revenue remains contract-driven and can be uneven, with earnings visibility still developing as the company scales up globally.

Summarising his sell recommendation on the ASX 200 defence stock, Locantro said, “Following recent share price strength and a re-rating, the current risk-reward balance favours taking profits at present levels.”

What’s the latest from the drone defence company?

DroneShield reported its full calendar year 2025 results on 25 February.

Highlights included a 276% year-over-year increase in revenue to $216.5 million.

In other core financial metrics, earnings before interest, tax, depreciation and amortisation (EBITDA) of $4.5 million were up from a loss of $8.6 million in 2024.

And on the bottom line, profit after tax of $3.5 million increased by 367%.

Looking ahead, DroneShield independent non-executive chairman Peter James said, “FY 2026 already has $104 million in secured revenue of which $22 million has been recognised to date.”

The DroneShield share price closed up 12.6% on the day of the results release.

The post The DroneShield share price has soared 266% in a year. Time to take profits? appeared first on The Motley Fool Australia.

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• Here’s why the Droneshield share price just jumped               

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended DroneShield and is short shares of DroneShield. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The S&P/ASX 200 Index (ASX: XJO) is having a tough start to the week. In afternoon trade on Monday, the benchmark index is down 1.1% to 8,339.3 points.

Four ASX shares that are avoiding the market weakness today are listed below. Here’s why they are rising:

Beach Energy Ltd (ASX: BPT)

The Beach Energy share price is up 1.5% to $1.29. Investors have been buying the energy producer’s shares following a rise in oil prices on Friday. Traders have been bidding oil prices higher this month in response to supply concerns caused by the conflict in the Middle East. Following today’s move, Beach Energy shares are now up almost 20% since this time last month.

Block Inc (ASX: XYZ)

The Block share price is up almost 2% to $84.39. This follows the outperformance of its shares on the NYSE in the United States on Friday night. Unlike many tech stocks, this payments company’s shares pushed higher on Wall Street. Last week, analysts at Truist Securities upgraded Block’s NYSE shares to a buy rating (from hold) with an improved price target of $77.00 (from $72.00). This equates to a price target of approximately A$109 for its ASX listed shares, which implies potential upside of almost 30% for investors.

Life360 Inc. (ASX: 360)

The Life360 share price is up almost 4% to $18.78. As with Block shares, Life360’s shares on Wall Street outperformed on Friday night and are playing catchup on Monday. A number of brokers are likely to be supportive of this buying. For example, last week, Morgan Stanley put an outperform rating and $30.00 price target on its shares. This implies potential upside of approximately 60% for investors from current levels.

Medibank Private Ltd (ASX: MPL)

The Medibank Private share price is up 3% to $4.33. This appears to have been driven by a broker note out of Ord Minnett. According to the note, the broker has retained its accumulate rating on the private health insurer’s shares with a $5.10 price target. This suggests that Medibank’s shares could rise 18% from current levels. The broker believes that the company is well-placed to benefit from higher interest rates and premium increases.

The post Why Beach Energy, Block, Life360, and Medibank shares are rising today appeared first on The Motley Fool Australia.

More reading

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• Down 40% in 2026, should you buy the big dip in Life360 shares?

Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block and Life360. The Motley Fool Australia has positions in and has recommended Life360. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The All Ordinaries Index (ASX: XAO) is down 1.7% in late morning trade today, but that’s not holding back this surging ASX gold stock.

The fast-rising miner in question is Felix Gold Ltd (ASX: FXG).

Felix Gold shares closed on Friday trading for 23 cents. In earlier trade on Monday, shares leapt to 28 cents each, up 21.7%. After some likely profit-taking, shares are changing hands for 26 cents apiece at the time of writing, up 13% in Monday’s sinking market.

The ASX gold stock is not outperforming because of any positive reversal in the downward-trending gold price. The yellow metal is currently fetching US$4,416 per ounce. That sees the gold price down 1.7% overnight and down 17% so far in March.

Indeed, the S&P/ASX All Ordinaries Gold Index (ASX: XGD) is down a sharp 6.9% today.

Here’s why Felix Gold shares are heading the other way.

ASX gold stock leaps on US permit approval

The Felix Gold share price is surging today after the company announced a key regulatory approval.

The ASX gold stock said it has received approval from the Alaska Department of Natural Resources (DNR) for a bulk sampling trench and related handling of approximately 1,450 tonnes of antimony ore at its Treasure Creek Antimony Project.

Antimony, if you’re not familiar, is often used in batteries and to strengthen other metals, including lead. The United States currently has no secure domestic antimony supply.

The miner said the DNR permit supports plans for near-term production (subject to further technical, regulatory, and commercial evaluation) by providing meaningful feedstock for advancing toll treatment options and defining US smelter development solutions.

The permit is valid through to the end of calendar year 2029.

Felix Gold said it has commenced mobilising equipment and crew. It expects operations to start in the coming weeks.

What did management say?

Commenting on the Alaskan permit approval sending the ASX gold stock surging today, Felix Gold executive director Joseph Webb said, “This is not a typical development story. We have one of the highest-grade antimony systems publicly reported in the Western world.”

He noted that the antimony system is at surface, clean, and now permitted for extraction.

Webb added:

That combination is extremely rare – and it fundamentally changes the timeline. Most projects spend years studying production scenarios. With this bulk sample permit, we are now in a position to commence extracting meaningful quantities of ore and demonstrate a pathway to production…

In approving our bulk sample permit, the Alaska Department of Natural Resources acknowledged the strategic importance of domestic antimony supply, noting the absence of a primary US antimony mine since 2001, the country’s reliance on imports – predominantly from China – and renewed federal efforts to secure non-Chinese sources for the US defence industrial base.

The post Guess which ASX gold stock is leaping 22% in Monday’s sinking market? appeared first on The Motley Fool Australia.

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• The DroneShield share price has soared 266% in a year. Time to take profits?
• Why Beach Energy, Block, Life360, and Medibank shares are rising today
• Why Genesis Energy, Northern Star, PLS, and WiseTech shares are falling today
• How much damage have recent share market falls done to superannuation balances?
• ASX nears correction territory. Is this the start of a bear market?

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

In early afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline. At the time of writing, the benchmark index is down 1.4% to 8,307.7 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

Genesis Energy Ltd (ASX: GNE)

The Genesis Energy share price is down almost 4% to $1.78. This morning, this vertically integrated energy company announced the successful completion of the shortfall bookbuild component of its NZ$300 million underwritten renounceable rights offer. Settlement of the rights offer is expected to occur on 24 March for the ASX, with allotment and commencement of trading expected on 25 March. A total of approximately NZ$400 million was raised in aggregate across the rights offer and the NZ$100 million underwritten placement.

Northern Star Resources Ltd (ASX: NST)

The Northern Star share price is down 7.5% to $17.09. Investors have been selling this gold miner’s shares following another pullback in the gold price. Traders have been selling the precious metal amid concerns that rising oil prices could cause inflation to surge and send interest rates higher. The selling has been so bad that the gold price lost almost 10% of its value last week. It isn’t just Northern Star shares that are falling today. The S&P/ASX All Ordinaries Gold index is down a sizeable 7.6% at the time of writing.

Pls Group Ltd (ASX: PLS)

The Pls Group share price is down almost 7% to $3.94. This is despite there being no news out of the lithium miner today. However, the resources sector is a sea of red on Monday, with most miners trading sharply lower. This appears to have been driven by concerns that the Middle East conflict could negatively impact global economic growth and ultimately demand for some commodities. The S&P/ASX 200 Resources index is currently down by 3.4%.

WiseTech Global Ltd (ASX: WTC)

The WiseTech Global share price is down 5% to $40.74. This logistics solutions technology company’s shares have continued to fall amid broad weakness in the tech sector. Investors have been selling WiseTech and other tech stocks in response to AI disruption concerns and fears that the Middle East conflict could send interest rates meaningfully higher. The latter is bad for growth assets, with higher interest rates putting pressure on valuations.

The post Why Genesis Energy, Northern Star, PLS, and WiseTech shares are falling today appeared first on The Motley Fool Australia.

More reading

• Genesis Energy completes NZ$400 million capital raise and rights offer
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Motley Fool contributor James Mickleboro has positions in WiseTech Global. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Superannuation funds remain in the black year to date, the analysts at Chant West say, following a sharp sell-off in equity markets in March in the wake of the military action in Iran.

The Chant West team estimates that the average Australian median growth fund returned 1.1% in February, following a 0.4% gain in January.

Big falls in March

Funds have since swung sharply into the red, however, following military action from the US and Israel, which launched attacks on Iran in late February.

Chant West estimates that the median super fund has already retraced 3.8% in March.

The good news is that funds remain in positive territory so far this financial year, albeit only to the tune of about 2.5%.

Chant West, head of superannuation investment research, Mano Mohankumar, said it was important to keep a cool head and a long-term focus when it comes to super.

As he said:

It’s critical for members to keep in mind that super is a long-term investment and there will inevitably be periods of market weakness through their super journey. While we recognise that members have different levels of comfort when their balance goes backwards, the majority can afford to remain patient, including many older members. A lot of Australians don’t take out all of their super as a lump sum at retirement, meaning a substantial amount is likely to remain within the super system in the pension phase, often for many years. In reality, their investment horizon is longer than they might think. 

Avoid trying to time the market

Mr Mohankumar said it was also important not to make rash decisions at times of share market volatility.

When markets fall sharply, some people consider moving to lower-risk options or cash, with a view to moving back later, generally out of fear or as an attempt to time the market. Far more often than not, that approach results in poorer long-term outcomes than if they stay the course. Not only do they crystalise their losses, but also risk missing part or all of the subsequent market rebound. We would encourage those members who are thinking of switching options to see a financial adviser.

Mr Mohankumar said super funds delivered strong results in each of the previous three financial years: 9.2% in FY23, 9.1% in FY24, and 10.4% in FY25.

He said such high returns should not be expected every year.

Chant West said that since the introduction of compulsory super in July 1992, the median growth fund has returned 8% per year.

The post How much damage have recent share market falls done to superannuation balances? appeared first on The Motley Fool Australia.

More reading

• The DroneShield share price has soared 266% in a year. Time to take profits?
• Why Beach Energy, Block, Life360, and Medibank shares are rising today
• Guess which ASX gold stock is leaping 22% in Monday’s sinking market?
• Why Genesis Energy, Northern Star, PLS, and WiseTech shares are falling today
• ASX nears correction territory. Is this the start of a bear market?

Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The S&P/ASX 200 Index (ASX: XJO) is under pressure again on Monday, with the market sliding closer to correction territory.

At the time of writing, the ASX 200 is down around 1.4% to 8,299 points, extending its recent decline. The index is now approaching a 10% fall from its recent peak, which is typically considered a market correction.

Let’s take a closer look at what is driving the sell-off and whether there’s more pain ahead.

Global risks rattle investor confidence

One major factor behind the weakness is the ongoing conflict in the Middle East.

Over the weekend, developments involving the United States and Iran added fresh uncertainty to global markets. Reports of potential military escalation and threats to key oil supply routes have pushed investors into a more cautious stance.

This has already flowed through to global markets. US indices ended last week lower, with tech stocks leading the decline. The Nasdaq is now also nearing correction territory after a sharp pullback in recent weeks.

This has also weighed on the local market, with investors rotating out of equities and into safer assets such as bonds.

Energy rises, but most sectors fall

Looking across the ASX today, the selling has been broad, with most sectors in the red.

The S&P/ASX 200 Materials Index (ASX: XMJ) has been among the hardest hit, falling around 3.2%, reflecting weakness across mining stocks. The S&P/ASX 200 Information Technology Index (ASX: XIJ) is also under pressure, down roughly 1.4%, while the S&P/ASX 200 Real Estate Index (ASX: XRE) has dropped close to 2%.

The S&P/ASX 200 Financials Index (ASX: XFJ), which carries a heavy weighting in the index, is also lower, down about 0.8%. The S&P/ASX 200 Industrials Index (ASX: XNJ) and the S&P/ASX 200 Consumer Staples Index (ASX: XSJ) have also edged lower, pointing to widespread weakness across the market.

One of the few areas showing strength is the S&P/ASX 200 Energy Index (ASX: XEJ), which is up slightly, gaining around 0.1% on higher oil prices.

Is this the start of a bear market?

While the recent move has been significant, it is important to keep it in context.

A correction is typically defined as a fall of 10% or more, while a bear market usually involves a decline of 20% or more. At this stage, the ASX 200 is approaching the first threshold but remains well short of the second.

Market pullbacks are also a normal part of investing. Even in long-term bull markets, corrections occur from time to time.

That said, if geopolitical tensions escalate further or global growth expectations weaken significantly, the sell-off could deepen.

What should investors watch next?

From here, investors should keep a close eye on global developments.

Oil prices, interest rate expectations, and moves in US markets are likely to remain key influences on the ASX. If things start to calm down, sentiment could improve, but further shocks may keep markets on edge.

Periods like this can also create attractive opportunities for long-term investors.

The post ASX nears correction territory. Is this the start of a bear market? appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Shares in ARN Media Ltd (ASX: A1N) are trading lower on Monday after the company said former employee, shock jock Kyle Sandilands, had lodged a legal claim against the company.

Sandilands, half of the long-running The Kyle and Jackie O Show, has been off air since a falling out with co-host Jacqueline Henderson on February 20.

ARN Media said earlier this month that Henderson later gave notice that she “cannot continue to work with Mr Kyle Sandilands.”

At the time, ARN Media said it had terminated its agreement with Henderson, while offering her the possibility of another show on the network.

ARN also said on March 3 it had written to Sandilands, saying “that it considers that Mr Sandilands’ behaviour during the show on 20 February 2026 is an act of serious misconduct which is in breach of ARN’s services agreement with Quasar Media, under which Mr Sandilands presents The Kyle and Jackie O Show“.

Sandilands was given 14 days “to remedy this breach”.

Contract terminated

ARN said last week that it had now issued a notice of termination of contract to Sandilands and his company, Quasar Media, and as a result, The Kyle and Jackie O Show will no longer be presented.

Sandilands said at the time that he didn’t accept the termination and would take ARN to court.

Sandilands hits back

On Monday, ARN confirmed that a legal claim against it had been lodged.

As the company said:

The proceedings have been filed in the Federal Court against ARN and Commonwealth Broadcasting Corporation Pty Ltd (CBC), a subsidiary of ARN which is the licence holder for KIIS 1065 Sydney and contracted with Mr Sandilands and his services company. Unsealed copies of Court documents in respect of the proceedings were served on CBC on 20 March 2026 after market close. In summary, the applicants claim the termination of Mr Sandilands’ contract was invalid on the basis they allege that there was no act of serious misconduct or breach of contract, and that the termination was unconscionable under the Australian Consumer Law. The applicants seek an order for specific performance of two contracts, payment of whatever amounts are due and payable under the contracts at the time of judgment, and damages.

ARN said it disputed the claims and intended to defend the proceedings.

Sandilands’ contract is worth $100 million and was due to run for 10 years until 2034.

His contract alone is not far off the entire worth of ARN, which was valued at $103.3 million at the close of trade on Friday.

ARN shares were trading 4.5% lower on Monday at 31.5 cents.

The post Which media company’s shares are on the slide after big legal news? appeared first on The Motley Fool Australia.

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Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.