Ann: Aspermont lists on Frankfurt Stock Exchange, page-8

Media is Media, is it really? Is Netflix the same as HBO, is Seven the same as News, no, each business is different.
Yes, there are trends, but have to be realistic.

And whose sentiment are you talking about? Do you think every single person in Germany got burnt in the Bauer deal?
ACP was in decline, it was valued at $1.75b when PE took it over as part of the Nine deal.
They sold it for $525m at a time when Magazines were in irreversible decline.
It only got worse from there.

ASP is a digital media business with a market cap of A$20m.
They have been through the decline of the magazine business and come out the other side as a digital publisher.
They provide marketing services to Mining companies and a platform to help sell projects.
When the world opens back up, they will be running global conferences.

I expect the Germans will understand it better than you have.