End of an MCM era

In the end of a tumultuous ride on the ASX, MCM Media have ceased trading on the market at the close of business on Friday 28 December.

Whilst the company is technically suspended from being quoted for the moment, this is a precursor to delisting on 7 January, returning MCM to being a privately held company.

MCM's controlling shareholders are Michael Gudinski and Tony McGinn, and their experience with the business on the ASX has been challenging.

Following a recent capital raising at 20c per share, MCM has traded in the range of 4.5c to 7c per share for many months now. This gives the business a market capitalisation well under what it is likely to be worth based on FY12 EBITDA.