JU
julianreins@julianreins_jse·Neutral
Radio ad spend is basically tied to consumer spending and we're in a load-shedding recession, so AME's tough near term. But if you look at the SENS stuff from earlier in the year the station portfolio is actually decent, listenership holds up better than you'd think. At R60 the yield isn't terrible if they can keep the dividend, could be a longer hold while things stabilize.