Mistatea is very negative on Skt now. I think Mrstea makes him sleep in the spare room now.
Printable View
Mistatea is very negative on Skt now. I think Mrstea makes him sleep in the spare room now.
Yes, and I bet he'll be crying when Prime or Amazon come along and offer to buy us out for $10 per share later this year LOL.
Bit of an action today ahead of ASM next week, someone keen?
I'm still a bit confused about how the capital return to share holders work. So after it's done our holdings will be reduced but SP could possibly go up? Or is it going to be like a special dividend ie. SP goes down but holdings remain the same?:confused:
Has no-one heard .. the Special Dividend might be an in-specie distribution of Media Works
shares in a deal yet to be orchestrated :)
Kills a few birds with one stone .. plant a bundle of cash in another pocket to appease
MW lenders no end, and hocks off a hard to sell dinosaur into eager hands used to disappointments ..
Most must recognise that the smart money controls the game and the Retail punters
are on the receiving end of sucking the kumara most times..
Why else would flicking a few bucks back be such a long winded process ? ;)
Patient holders have probably forgotten what a SKT Cap Return looks like :)
ASM next Wed 2nd Nov, vote on the ~$70m capital return to shareholders by way of cancel 1 share for every 6 shares held, $2.40 paid out per share cancelled. Requires 75% shareholder vote support. Current SP $2.20.
I just voted in the ASM - against all the directors up for renomination.
So what is new? The "smart money" controls the game not only in Sky TV but in any company on the stock market that the retail investor puts money in. If you invest that is part of the deal. Whether we get a sour suck of the kumara or a fair suck of the saveloy , take your [tooth] pick.
75%+ of all shares voted is required for the capital return. The ASM starts 10am, it will be online and you should be able to vote online during the meeting. https://meetnow.global/nz Alternatively, you should be able to login to Computershare and vote before the meeting. There are some important Director votes to be held as well, depending on your views of their performance.
https://www.nzherald.co.nz/business/...VWFSCQJUOYVNQ/
Strong uptake so far has surprised me.
Won’t be long before the majority of urban areas have high speed internet now.
Then what for high ARPU satellite subs?
A colleague who purchased a rural property and has been looking into internet connectivity options, came to the same conclusion. I also pointed out to him that owning the $1000+ hardware meant that you're also responsible for replacement, so make sure that you have adequate insurance cover (where possible) and factor those costs into the equation as well.
I agree with you that it can fill a market gap, but it won't replace fibre/copper/traditional wireless (wifi/LTE/5G etc.) services.
Yes that’s what I thought too. But 10k subs in a relatively short time is pretty good going.
It def won’t replace fibre.
But the (narrow) competitive advantage sky still have is the rural properties. However these properties can get fast internet from Elon Musk now (whereas they are unlikely to ever get fibre in many cases). As more of these properties get Starlink then the narrow moat sky still has will vanish entirely.
And in terms of the internet service Elon offers being inferior…tell that to the Ukranians.
John Fellet has Starlink and he says it is fantastic.
Rural New Zealand population is around 13%, and that's 'people', not internet service account holders. I doubt that Sky is too concerned about their "narrow moat" in rural, for their customers.
But go on, it's interesting how you've changed from multi-year upramper, to completely sold loss making investor, and now monotonous downramper. What else have you got for us, imo nothing to see here with Starlink, or f'all to see.
You don’t have to agree with any of my viewpoints.
But trying to rewrite history in this ultra simplified manner that I was an ‘upramper’ before and now a disgruntled ‘downramper’ says more about you than it does about me.
So far as I see it, the facts have changed this year and so has my opinion. I don’t see why I should be criticised for that?
And your pithy comment about sky not caring about rural NZ just highlights that you don’t understand the business very well.
They care very much indeed. And if the majority pf rural nz move into the 21stC with fibre or Starlink - then it makes it more likely that a conservative organisation like NZR would be prepared to go OTT in the future.
So... Are we reelecting the current directors?
Well that will depend on the smart money, AKA institutions, and the chairman has just put some of his own money in.
And is the proposed capital return even worth it?
I prefer to think that the Chair's investment is not some cynical ploy to convince shareholders that he's worthy of being retained, more that he thinks it's a good investment regardless of whether he retains the role. That may be wishful thinking. The telling moment would be if he was not re-elected and then sold soon after.
It's not about agreement, no one cares about whether we agree, it's about trust and reputation.
For a long time you were a trusted reputable commentator for many (judging by feedback), apart from the numpty meme artist that you chose to entertain with endless pointless speculation, and still do. So much to say and so often saying it, if not an insider yourself(?) you obviously had/have inside information, never had any misgivings about the company even though it was far from sure that the transformation would happen. Apart from slagging the bosses, lucky you escaped a defamation imo.
Heavily invested and making dubious investment decisions (buying long term downtrends way too early and frequently), but the story according to you was worth it, even while holding massive paper losses. Then suddenly when it looked promising that the strategy was working, you turned, sold at a loss that many would be upset about, and have nothing to say anymore except over and over again, that it's all a complete mess and the future is f*cked.
Sorry not sorry, it's about trust, reputation, trust lost, reputation lost. Nothing you say can be taken seriously, imo.
Well, you can rant and rave all you want - that’s fine. Your version of history isn’t all that accurate actually when it comes to the evolution of my views on sky over time. But it isn’t worth getting into all of that with you though.
I will pick you up on one point though - I am not an insider. Have never been an insider. Nor have I ever been privy to inside information. That is a very serious accusation, and you need to take a deep breath and think about what you are saying before you post again sunshine.
I have been wrong on a number of things in the past when it comes to my thesis on sky. I am probably wrong on some of the things I see now.
I certainly don’t think sky is going to go broke or be out of business any time soon. There will continue to be a place for sky, but things are going to be very tough I think - and it will be interesting to see in what capacity Sky are able to continue as a going concern in the longer term.
Clearly I have blotted my copybook with you. I have had plenty of positive feedback from others though - it is very hard to change your mind about something once you have committed so much time, energy and money to it. You are unlikely to give me any credit for it, but my views have been evolving (negatively) for over a year now. I didn’t just wake up one day and say “to Hell with my thesis on sky over the last 4 years, I just hate the company now!”
As the facts have changed, so too have my views. Maintaining a viewpoint because I am worried about what some geezer called Baa Baa thinks of my ‘reputation’ would be absolutely insane if I consider the investment case has deteriorated significantly.
And as for my ‘luck’ at not being sued for defamation - get off the grass mate.
Yeah...the maths is simple enough (I hope). I make it that @ $2.18 current price...after the cash return and cancellation of stock...the shares need to be $2.14 to stay even. (assuming $2.18)
The difficulty comes in predicting the shareprice after the transaction is done. Time will tell I guess.
any chance of late buying tomorrow to push it up, though too late to get on the voting list
Before share cancellation for every 6 shares you own, they are valued by Mr Market at: $2.40 + 5x $2.18 = = $2.40 + $10.90 = $13.30
After share cancellation you take away your $2.40 in cash, that has removed 22c of market value spread over the 5 shares of 6 that you did not sell (because before the share cancellation occurs, all shares are the same) .
22c/5 = 4.4c per share not sold
So as long as the share price of your remaining shares trades ahead of: $2.18 - $0.044 = $2.136 after the share goes ex-share cancellation, you should be ahead.
SMOOPY
Interesting. You have worked it through using different system than I did. Same answer.
Same conundrum tho, what will the sp be after the cash return ?
There will be 1/6 less shares on issue…eps should rise accordingly….all other things being equal.
P/E already low….~6….so we might see an upwards trend over time ?
Of course all this relies on them continuing to do ok with their core business.
AGM Meeting Addresses - https://www.nzx.com/announcements/401560
Ouch, future dividends will be absolutely tiny moving forward.Quote:
We are also confirming the definition of Free Cash Flow as cashflow from operations less both replacement and growth capex, but excluding one-off items such as material acquisitions or disposals of assets.
If they were happy to use some debt, then they could be more generous (i.e. a % of Operating cash flows minus replacemennt CAPEX and tax (but not growth, as they should have no issue borriwing cash to fund growth initiatives if the ROI truly is there).
$70 million capital return not far away
the meeting includes a special resolution regarding the return of approximately $70 million by way of a court sanctioned scheme of arrangement (scheme). In this regard, sky chairman philip bowman confirms receipt of a binding ruling from the new zealand ird in his address to shareholders, satisfying one of the conditions to the scheme. Should the special resolution be passed at the meeting, satisfying the other condition to the scheme, sky expects to seek final orders from the high court sanctioning the return of capital shortly thereafter.
Increase dividend payout range to 60%-90% FCF
mr bowman will also provide an update on the company’s dividend policy and signal the potential for additional capital allocation measures: “as a further demonstration of the board’s confidence, and with reference to our view on cash generation and appropriate levels of leverage, we have made an amendment to sky’s dividend policy. Going forward, the previously advised pay-out range of 50% to 80% of free cash flow (excluding one-off items) has been increased to 60% to 90% on the same basis. We are also confirming the definition of free cash flow as cashflow from operations less both replacement and growth capex, but excluding one-off items such as material acquisitions or disposals of assets.
Dividend guidance increased to $18m-$24m
“as a result of the change, sky’s dividend guidance for fy23 has been increased to between $18m and $24m. This change is a positive demonstration of our ongoing commitment to return surplus cash and one that i trust shareholders will appreciate.”
On-market shares buyback programme
“consistent with the board’s stated capital allocation strategy and focus on value creation, the board is currently minded to initiate an on-market buy-back programme following the announcement of the interim results, noting that the size of any programme would be determined by reference at that time to the prevailing share price, the cash position of the company, the economic outlook, and the liquidity of our shares in the market.”
Boom! The turnaround strategy is working.
Presuming the capital return is made, then the number of shares should drop from 171.7m to about 143.1m.
So means divvy's per share of $0.126 - $0.168. Mid-point of say $0.142 cps.
Probably the most uneducated set of questions I've heard at an AGM in some time.
You're quite worried the share price will increase going forward aren't you?
Yeah I bought my measly parcel as it was cheaper to buy some share at .14cents and own the company than subscribe to the overpriced entertainment channel.
There was this show with characters called mistatea and ogg I used to follow. The premise of the show was mistatea promised missestea a champagne lifestyle and some diamond crusted undergarment with strategically placed holes in them..meanwhile ogg just seemed like they were depressed…almost like they bought too much of something and paid way to much for it. I think they call it buyers remorse.
The shows finished now. It was a sad ending. Mistatea love story turned to a tragedy. He turned on his previous unrequited lover Skt and only speaks badly of her now
So many bad things said about Phillip and Sophie but all along they knew what they were doing
Sky been transformed - well done Phillip and Sophie
Things did better once Derek left eh
I thought that Bowman and Moloney handled the meeting very well. Bowman's CV and resume in the TV and media industry, and his turning round SKY in the last three years have demonstrated competence. There will be challenges but I bought plenty at 12 cents {$1.20}. So up around 90% over 3 years. MIsta Tea also backed up the truck at that time, maybe he will come back in.
Winner() shes a short term trade now...
The method of capital repayment and cancellation of shares is the best approach. The SP should increase as the eps will be greater. I agree we will be close to $3.00 after the end of the fiscal year and the final dividend is declared Then the divvie yield will be set in all of the investment statements and publications.
Woohoo I have just put my order in for a new BMW which should arrive from Germany just as the final divvie is paid.
I see.
So after Sky have depleted cash reserves significantly after the capital return you expect the value of Sky to INCREASE by $25M to $423M…
Which would represent a yield of 4.3% - 5.7% based on updated dividend guidance? 1% - 2.4% above the current Spark yield?
That certainly would be a lovely outcome!
I just read the transcript, think I’ve lost a few brain cells. “YEW TOOK MAI SHARES!” “WHY DO I HAVE LESS SHARES, ALL MAI SHARES R GONE!” “YOU’RE TAKING MAI SHARES AGAIN!”
On the q’s, I’m disappointed there wasn’t anything on MW transaction attempt
More seriously though, I thought MT’s best mate Pooman handled himself pretty well. I know most people here are prob NZ’ers, but as an Aussie holder, do we get the same tax-free special treatment? I thought I read somewhere when it was first proposed that the answer was yes but I’m unsure now ….
I don’t own SPK - I just think it is a useful comparison because it is considered blue chip and there is a history with Sky.
How is pointing out facts around what $3/share represents post capital return in terms of market valuation and yield range sh1tting on SKT?
From now on you only want people with lofty notions of SKT to post on here?
There were a few aggrieved shareholders at the meeting, who had all of their investment ruined because they didn't know when to quit a loser, or hold for a recovery and cover their position. Some didn't seem to understand basic maths of % share of the company after consolidation. Surprisingly the Chair was very tolerant and let them vent. There were some who quit when the turnaround was actually happening and the company was returning to distributing ongoing FCF and capital excess.
The market really doesn't care about people, it just does what it does. Some win, many lose. Buying sustained downtrends is a losers game. Buying a turnaround is not. The turnaround has been recognised by the market. Read the market and you'll do ok, maybe even very well. You have to be in to win, when the time is right, there's no prizes for moaning on the sidelines.
Post whatever you want, it's no matter to me, but I'll call you anytime I want as well. You took your loss, while others are enjoying better timing and wiser investment decisions, with a longer term horizon, that is so far working out rather well.
Whatever happens in the long run, you'll alway be known as the multi-year downtrend shill who had a panic-attack and sold at a significant loss and then proceeded thereafter to slag the company on multiple forums.
That's reputation. Once lost, almost impossible to recover.
Geez baa baa, you got flystrike or something? mista been eating away at you??
If it werent for Mista, alot of retail investors would not have kept faith during the darkest days of the turnaround. He kept faith when others didnt, and posted reasonable, rational, and optimistic posts when most had been rubbishing skt.
It was his optimism that got me invested in Skt, and ive done great from it. However I now share his less optimistic view of the outlook. Are we right or are we wrong? who knows, But He’s allowed to change his viewpoint on a share, and doesn’t need your incessant baaing about whether hes an upramper or downramper.
Thats the whole point of a market, some are long some are short. And thats a constantly moving conversation. Whats reputation got to do with anything?
Poor MT.
I haven't been keeping track of SKT as i had sold out. On one hand, the increase in divvy is positive along with the buy back.
On the other hand, this does put SKT itself in a dangerous situation. In essence SKT is making a bet that their operation will be at a level that can sustain the buyback and divvy in the future and allow for growth of the company. Given the death raise, I'm unsure if SKT are truly sufficiently far sighted to understand what they are doing. In the event that the board aren't farsighted enough, it could be the beginning of end or another capital predicament as growth in the company wanes in a market that is evolving and requires innovation (a aspect that SKT have failed on, on several occasions).
Yeah ease up on hassling Mistatea. He has made a massive contribution to this thread. Both for the analysis and entertainment value. I wouldn’t have bought mine without reading his and other posters various scenarios of what they thought could play out with Skt
I read all the posts and then remind myself this site is called shareTrader. One man’s trash is another man’s treasure.
I only bought a very small amount of Skt after deciding at .14c they were probably undervalued and could be a turnaround opportunity. So I invested a measly $7k for 50,000 shares. I honestly thought I would be well out of them by now having held for last 2 yrs. They were very much a short term 1-2 yr speculative buy and I only invested an amount I would be happy to loose if it all went tits up with the hope I might double my money if I was lucky sell them and spend the upside on a few toys.
Im not really a believer in the Skt model going forward as a stand-alone business. Without sport they would die pretty quickly I think with many competitors in the movie and entertainment space now at much lower prices. However I can see some reasons why there good be some M&A activity in the telco /media/advertising space as they all seem to need to eat each other to grow and survive and sky have a reasonable size customer base.
I always wondered why if spark were serious about streaming sport why they just didn’t buy Skt and bolt sport onto their offering. Spark seems a pretty mature business with not a lot of growth but just keeps generating a lot of cash.
If they had the best sport offering in nz and bundled it up with their mobile and broadband it would give them a huge point of difference to other telcos. They just don’t seem interested in this space and I have no idea why they persist with spark sport. If I owned spark shares I would want to know what they are doing with it.
Anyway I’m happy to hold Skt for a bit longer but will soon join Mistatea on the sidelines.
Thanks again Mistatea for your contributions…it just got a bit one sided once you exited.
DYOR…I have no idea what is going to happen with SKT but I enjoy watching it all unfold and I might still loose it all.
I am there for more SKT so sock ‘em to me!
Unfortunately the price of the toys have gone up. I’m greedy so hoping to exit higher than today…but it’s quite likely I might need to downgrade the specs on the new toys.
But good luck to you…I like your ambition
I have a very simplistic view of Sky, now that they company has gone through the valley of death and come out on the other side with financials looking strong and prospects for growth realistic.
Current market cap -$390m so market cap after $70m capital repayment = $320m.
Based upon company's forecasts for F23, stock is trading on :
PER of 5X to 6X : NPAT of $50m to $60m
Enterprise multiple of 1.7x to 1.9x : EBITDA of $150m - $170m
Dividend yield of 5.6% to 7.5% : dividend payout of $18m - $24m
Plus share buyback .
One of the cheapest stocks in the world.
I think the issue I have with Skt is that they have spent the last two years taking a lot of cost out the business and selling some assets…the easy bit. But now it back to their core business and how they will grow it. They don’t appear to have any robust plans. I think they have some pricing power around their sports package due to some exclusivity of key sports but not much else that customers can’t get similar elsewhere for cheaper.
Im pretty sure that’s why they were looking at mediaworks for the radio advertising revenue that they could bring advertisers across to the tv medium as well.
Skt key customers are the older monied who like the simplicity of one box, one bill and one on and off button.As this group ages and moves on Skt new customers are going to be young media and tech savvy who are used to getting around paying for access by using vpn and sharing of accounts etc.
Skt is cheap because no one can see where’s its going.
Just my opinion.
Disc: Ex sky customer and temporary Skt shareholder
Yes, there is not a clear way forward put to the investment community around how Sky will maintain (let alone grow) earnings per share (and I am talking real earnings per share, not smoke and mirrors from a share cancellation).
When I first started buying Sky shares the company was still gushing FCF.
- Between 2017 and 2019 Sky produced $428M of FCF.
- Between 2020 - 2021 (the time under Martin's tenure) Sky still produced another $72M FCF despite paying huge premiums for content and wasting cash on things like RugbyPass, stadium naming rights etc.
In that 5 year period Sky produced half a billion dollars of FCF. Though I knew FCF would decrease over time, given so much cash was still being produced there was every reason to think Sky would be able to grow by some sort of meaningful M&A opportunity. I strongly favoured Sky buying Vocus NZ - with the release of Spark Sport and their success in picking up important sports rights there was just no way Sky would get blocked buying a relatively small broadband provider. However Vocus NZ have a fantastic fibre network and we can now see that the $700M asking price at the time was a bargain. Buying Vocus would have opened up other opportunities with players like 2D and Sky-Vocus would have had a strong hand in negotiations.
I did push for Sky to consider this, but they simply were not interested. Now they seem to have cooled even on the wholesale broadband deal - they don't seem to be pushing very hard to get more customers, have not extended the offer to bundle streaming services etc. Meanwhile the new 2D has cancelled their NEON and SSN deal with Sky. Not great.
All that really matters now is what are Sky's prospects moving forward. Nobody (least of all me) is suggesting that Sky is going to go broke or anything like that. However there are some huge risks to the company still with key content rights, threats of new entrants and unlike my forward predictions of the FCF profile in 2017, doing the same analysis from 2022 - 2026 (inclusive) makes for some pretty grim reading in my opinion.
SM was absolutely right in that she needed to explore M&A opportunities before returning cash to shareholders. It is just that her target asset (MW) was completely unacceptable given the likely amounts of money involved contrasted to realistic views of how big the synergies would actually be.
Now some people will be very unhappy with me making this post because they view these issues in a black and white upramper/downraper way.
But I put it to you that this is a more accurate reflection of how my views have changed over the past five years. So far as I am concerned, Sky had some big opportunities over the last 5 years (and the cashflow to support taking advantage of the opportunities). They thumb sucked over that period, just focussed on slashing costs (whether they went too far, time will tell) and now are in a much weaker financial position - which means fewer meaningful things they can go after in the future.
Just my very humble opinion as always. Others will have an alternative view on the future for Sky, and that is ok too.
Just been doing my market research on what the competition is up to as it was the spark agm today. It’s always a challenge to find any data on how spark sport is performing but I’ve highlighted what they had to say today….
As Justine noted, we also continued to see strong momentum in our future markets, with revenue growth across Spark Health and IoT.
• Spark Health won new national contracts through the newly established Te Whatu Ora, or Health New Zealand, and launched its new cloud-based digital health platform, Kete Waiora.
• Spark IoT grew connections by 75% to 832,000 and we took a significant stake in our partner Adroit, to accelerate future growth in sustainable
monitoring solutions.
•In Sport we delivered a successful season of cricket and we remain focused on strategic partnerships to improve returns.
Ive done some analysis on this and I think this is what they mean…
Between spark and nz cricket we are slowly ruining the sport. Customers have no idea what games are on what provider at what time.
we have invested a lot of money on our platform and unfortunately have some contractual obligations to deliver
As soon as possible we will take sparksport out the back paddock and shoot it.
Capital return details finalised:
https://www.nzx.com/announcements/402249
Last trading day: 17 November 2022
Record Date: 21 November 2022
Trading resumes: 22 November 2022
Payment to Shareholders: 29 November 2022
Thanks buddy, much appreciated. It's going to be the best X-mas since the pandemic started! :)
Been reading about how Disney is spending huge amount on contents and not expected to make a profit till 2024 the earliest! Even with more subscribers (Disney+Hulu+ESPN combined) than Netflix atm. I guess in another 5yrs or so the landscape could be very different, with only those with really deep pockets, able to survive the rising cost of living, ie. production cost goes up, forcing subscription prices to go up and resulting in more people cancelling or perhaps turning to an aggregators like SKY.
Disney and Amazon can afford to do stuff like this because they aren't pure-play streaming companies. They use their streaming services to drive revenues in their other business units (if you read up on Disney, they have always been about selling merchandise and myriad other services in addition to just putting out great movies and TV) and so are are more likely to survive/thrive over someone like Netflix.
2D brand now bundling in power.
The ‘mega bundle’ I have talked about in the past.
Amazon is their entertainment component of the bundle though, not Sky.
2D have an opportunity to create a unique and compelling offer of o consumers.
This might be a noob question, and I have searched on this thread but the comments are limited, but...
so far today we have an initial 5 trades adding up to 110 shares, then a trade of 6, then 5, a 513 (2 trades) and finally 7 trades adding up to 146 shares.
my question is, how is anyone making money if the brokerage is more than the amount of shares they have purchased?
the price is changing so the assumption is that some of these are a completed order.
I have seen people talking about sharesies being really small trades at times, but this must be really inefficient.
unless their brokerage is way down near US rates.
My shareholding has dropped from 85,000 to 70,833. Lost 14,167 shares. Let's see I will get in the region of $34,000. Tax free. Now need the SP of the rest go to $2.60 based on a higher dividend yield ie the same profit allocated to a smaller number of shares. I wonder when the final dividend will be declared. That's what I am waiting for. Also free Sky box and subscription to all shareholders holding over 70,000 shares. Oh that's convenient, just made it. Haha
https://www.nzherald.co.nz/business/...GM7YPWIFLT2DI/
Endless delays to the new sky box being launched.
Meanwhile Apple have entered the global sports streaming wars.
Stuff.co.nz: Black Ferns to get $25000 bonus for winning Rugby World Cup.
https://www.stuff.co.nz/sport/women-...ugby-world-cup
Sky contributed to the bonus payment pool. Could be a bit of a masterstroke if they then negotiated access and benefits for that contribution - particularly because SparkSport had the RWC rights.
Sky should have just purchased VTV and rebranded it.
Would have come with 100K customers.
The bulk just use it for Freeview plus apps…BUT they still get advertising revenue on prime from them plus if they updated their pricing/packaging they would have a big number of customers they could upsell to without too much difficulty.
The hybrid nature of the massively delayed box they are developing isn’t going to be a huge selling point.
Those that are wedded to satellite transmission for whatever reason would keep MySky anyway. So no gain there.
For the others who have great internet AND want a STB…well you only need an IP Box.
VTV needed a lot of UX work, but people did like the balance between OTT and linear. And they have some cool features like 3 day catch up etc.
Instead of doing their own thing (knowing that sky absolutely suck at technology projects) I think they should have explored a deal with Vodafone first.
They could have done the deal a year ago and would have implemented a number of improvements by now for a fraction of the cost they are incurring doing a brand new box.
I lost a ton on Sky. I was up a ton and then lost a ton. Anyway that was awhile ago now and I have forgiven myself. But theres really nothing to forgive. It's just that losses feel worse. I've made more than I've lost over time although it doesn't feel that way.
I'm almost all passive now. I have just 1000 GNE shares and 2800 SKT shares. That's it, just dribs and drabs. Amazing really.
Anyway, believe it or not, I'm thrilled with my tiny pay out. When do I get it in my account? Yes I'm being lazy but I'm in a hotel room by myself in a tiny dusty town, you know how it is...
All those sport channels and LPGA with a lot riding on it has delayed coverage at 10:30.
Hard to believe. It’s not a secret what Lydia is going for.
Or am I missing something ?
Thanks Jay, much appreciated. This is great news. I'm more excited than I should be but I'm six months into my travels so every bit helps.
Hi MT, as you have pointed out before Chris Keall likes to accentuate the negative about SKT. But really for many there will be no urgency. My present set top box works fine. It failed once after about 20 years and it was replaced promptly at no charge.
Yes I am no fan of CK for sure.
Though I normally take umbrage to his ‘journalism’ when he presents opinion as fact/news. It is something he really struggles with.
This piece is just reporting facts though from what I see. And the truth is, this box is badly delayed.
I think you are dead right though about people being well served for linear tv with MYSKY - tried and true tech. They already have methods for OTT, be it smart tv, Chromecast, Apple TV etc.
So I think what you point out raises an important question about just how popular this STB will be. Especially if new customers have to pay $200 for it on top of their hefty monthly sub.
The box will no doubt be gifted to existing MySky customers. But that is actually an expensive exercise for shareholders with no net gain. As you say, those customers were unlikely to cancel anyway and are mostly happy with their current box.
This only becomes a win for shareholders if it is an attractive product to a decent chunk of non-sky customers.
To me, it is clearer than ever that they should have just purchased VTV and spent a fraction of the $$$ they are currently spending on making some basic UX enhancements.
Rebrand the UI to Sky TV. Rebrand new boxes to sky. Customers with existing ‘Vodafone’ boxes leave as is (the STB will say vodafone but when they log in the UI will say sky).
They would have 100K potential customers right away and no launch delays. I think maybe 10K had sky channels already.
That leaves 90K that you are getting some ad revenue from via Prime, but could also be up sold to more sky content if you sorted out the UI and launched better/more attractive ‘streaming packages’.
All is not well at the Mickey Mouse outfits streaming service Disney+.
Maybe streaming services are not the Cinderella the sooth-sayers thought but an ugly step sister.
Step forward content aggregators, they to shall go to the ball.
https://www.reuters.com/technology/d...ey-2022-11-21/
Boop boop de do
Marilyn
Yes, it is definitely a tough gig in the streaming wars.
Dr Malone has cogitated on the problems a fair bit too: https://www.hollywoodreporter.com/bu...rs-1235264416/
I am also of the opinion that the Streaming Wars will run out of puff before long, and we will end up back with content aggregation.
The difference in my views now though, is that I think that aggregation is more likely to come on the back of more M&A activity between the big studios. Warner-Discovery was a big move, but only the beginning I think. By the time the wars are over, you probably end up with three big players - all with massive catalogues of premium content. Maybe four, but no predictions from me in terms of who else might merge.
There will still be a range of other smaller providers I am sure, as well as your old school content aggregators like Sky Network Television.
But if anyone is hoping that competitive forces will make these guys shut down their streaming services and go back to SNT exclusively, you are sorely mistaken. Fast internet has put an end to all of that as Sky's expensive satellite infrastructure is no longer needed to distribute content.
Sky will continue to do deals, but the studios are very much in the drivers seat. Don't forget, Amazon Prime and NETFLIX are also content aggregators. They have a bunch of NETFLIX Originals and Amazon Originals on their platform, but they also have deals with other studios to distribute their content. So if Sky aren't prepared to fork out big bucks to renew their deals (even if on a co-exclusive basis) there are plenty of other places these studios can go to extract maximum value.
Hard to work out what the market is doing. Running up to the capital repayment, the SP was reasonably stagnant at around 2.25 to 2.30. When you get paid out 2.40 for every six shares, the SP goes to a high of 2.32. You would have expected an immediate drop to less than the SP running up to the XC date.
Don't get me wrong I believe after the XC, the % return per share is greater and the SP should go up. But why was this not recognised prior to the XC date.
Yes, I bet heaps of sophisticated investors are trying to 'pile in' to SNT despite the company not having a convincing growth story. Or any growth story at all, come to think of it.
And they have been unable to do so until a bank transfer from Sky's bank account to theirs. Because they are so hard up for cash.
Oh yes, I bet they are all dying to increase their exposure in Sky - using Sky's own money again them to boot! Muahahaa!
I mean, Jesus Christ.
So current SP is already trading at EX price? If so, I'm surprised that it hasn't moved much too. So our holdings don't officially change until we're paid after 29 Nov right? Probably explains why Computershare haven't email me a statement yet.