The disclosure issue is NOT from a few years ago.
The initial announcement about the joint venture was made on 13 Sept 2016, 18 months ago.
In the latest annual report, 29 Sept 2017, less than 6 months ago:
"Throughout the 2017 financial year, the Company’s continued investment into its strategic
partnerships has created exciting results. The joint venture agreement with the Intermedia
Group has allowed for a jointly produced executive travel series that has received support
from global brands such as British Airways and Marriott International."
"2017 saw the forming of a joint venture agreement with The Intermedia Group Pty Ltd
(TIG) through which it has jointly produced the Wayfarer Executive Travel Series. The show
combines both existing BIG video content and new content in a format that holds significant
appeal to advertisers and sponsors.
TIG is one of Australia’s largest business to business publishers and has extensive reach into
Australian business decision makers, managers and owners. TIG engages their audience
on a daily basis through a suite of print, digital and face to face media. Its online and print
publications include Professional Beauty, Hospitality, Australian Hotelier, Bars and Clubs,
Hotel Management, Appliance Retailer, Spa and Clinic, Fox Sports Venues and Instyle. It
has readership of over 500,000 professionals throughout Australia and New Zealand. BIG
has access to this audience and is able to market its video products in a targeted way using
the auto-gen technology. In March 2017, the Company completed its acquisition of TIG’s hair,
beauty and aesthetics publishing division BHA Media Pty Ltd (BHA). BHA is the hair and
beauty arm of TIG, and has historical advertising revenue of $3m per annum and relationships
with over 36,000 publication subscribers."
BIG Price at posting:
$2.22 Sentiment: Sell Disclosure: Not Held