Well sure, but it behooves us to consider how plausible any given speculation is.
Printable View
Ah metrics restated due to lower number of shares. Just need the next dividend declared then $2.80 here we come.
Sky’s assessment of the impact of the capital return on FY22 Reported Earnings:
FY22 Reported Earnings: $62.2m
Less: net interest expense on returned cash (after tax)1: -
FY22 adjusted Reported Earnings: $62.2m
Shares outstanding: 145.6m
Earnings per share: $0.427
SKT share price (market close 22 November 2022): $2.300
Price / earnings ratio: 5.39x
1. Sky’s capital return was funded from cash reserves which earned a negligible return in FY22.
This whole splitting of sports is simply a pain in the butt, and will be the same with streaming too. Just gone to watch the cricket and realised its on Spark Sport.
Aggregators like Sky have a place, at least in New Zealand I think.
Ain't nobody got time managing half a dozen streaming subscriptions to see what they want.
Or you could look at it as, Sky weren't prepared to pay over the odds and walked away, whereas Spark were prepared to pay top dollar and secure the rights. I just see it as an experienced hand in acquiring content rights deciding to leave it to the newbie who is slowly going down the toilet by over paying and underperforming.
If Spark Sports streaming is still alive in the next 2-3 years, I will be very surprised. Just read Sparks annual reports to get a feel for how they rate their Sports streaming from the time of formation to recently. Check out what their contribution to the P&L and Balance Sheet is. Spark won't tolerate that forever. Soon enough they'll be hocking off their content rights at discounted cost and be gone for good.
Capital Return paid into bank a/c, time for some (shares) shopping...
More SKT of course
Oh that's nice. First toy pre-ordered from the dividend. Sony PSVR-2 coming for sure. I'm sure the next order from me to the Fine Wine Delivery company will be very big.
Spark sport looking at Spark sport options with TVNZ, i wonder if they have also spoken to SKY
https://www.stuff.co.nz/business/ind...t-content-deal
I doubt that TVNZ would have the coin either
If Sky took it over, would it not be just going back to where it was- what's Comcom's problem with that!
There seems to be a lot of content on spark sport that about 3 people must watch, all sorts of stuff you would never know was there as they don't tell you about it, I've only seen some of it when switching over to watch F1 or WRC and as for the cricket!
Sky should offer to take the domestic cricket back off them for a $1 or 2
TVNZ has secured the broadcast/streaming rights for NZ Cricket through to the end of the 2025/26 season.
The ship will be slightly unsteadier now......:(
No word on F1 or WRC - except Spark no longer has the rights to F1 after Dec 31- hope Sky pick this up cheapish
can't remember what term Spark had on F1 but it must have been finishing this year in any event unless it was a year on year thing
Sky picking up F1 from Jan 23 and the Melbourne Gran Prix will be free to air
Great day for NZ cricket fans…following this sport the last few years has been a hot mess!
Maybe D White…head of NZ cricket should retire…out hurt?
He and his advisors sold nz cricket fans down the road for a bit of lucre.
a generation of nz kids have grown up asking mummy and daddy…”what is cricket?” and us oldies been saying “remember when we had the summer of cricket…tv or radio”
I’ve taken a few bouncers to the head but I still remember this from 2019
SPARK DEAL 'FUTURE-PROOFS' CRICKET
NZC boss David White said the deal was as much about catering for the demands of tomorrow, as it was for today.
Spark uses the internet to stream games, removing the need for a TV.
"This is a deal which future-proofs the whole of cricket in New Zealand," White said.
"Live streaming is the future. It allows viewers to free themselves from fixed linear schedules to watch live, delayed, highlighted or clipped content when and where they choose, and on a wide range of devices.
Together with the free-to-air component provided by TVNZ, this accord means more cricket games than ever before will be broadcast live.
"It's timely that we make this move now, at a time when more New Zealanders than ever – and especially young Kiwis, consume their sports content through digital devices."
Great day for Sky!!! Biggest competitor bidding up sports rights in NZ heads for the exit!
For sure .. do I hear the computers in Willy Wonka's Beehive Nut Factory being prepared
to be set cranking over soon, working out how many extra bucket fulls of Taxpayer loot will
have to be thrown on the BBQ at the merged TVNZ trainwreck going forward ? ;)
Wonder what an economic nosedive coming up soon will do to things @ TVNZ - Will
Wellington's resident Labour Vandals just leave it to stumble along the path ? :)
Daniel Dunkley on paywalled Business Desk comments on the deal and said that Sky TV is the real winner.
Perhaps Spark shareholders as well. I am one.
I found this bit in the announcement surprising. I thought they would have made sure they partnered with someone who was capable of delivery of the platform long term…not just the short time that Spark have been dabbling in it. I guess things can change, even so, I would have expected better selection of supplier by Spark.
“The Spark Sport platform licenced from iStreamPlanet will also no longer be made available for third party use in the second half of 2023, requiring Spark to invest in a new platform and transition customers in order to continue operating the service.”
Depth looks very interesting here..something cooking?
probably something exciting will happen now I sold out last week after holding for a few years Got tired of waiting for something like takeover or merger to happen and saw better opportunities elsewhere. Bought at 0.12 cents so made a few shekels on the punt they were oversold. They done a reasonable job steadying the ship but
I couldn’t see anything that was going to grow the core business. They taken a lot of costs out which is the easy bit but ultimately they need to grow the revenue and I couldn’t see where that would happen. Spark sport closing helps a bit but likely headwinds as recession approaches…likely less advertising revenue, subs slow or decline as a discretionary spend.
Long term I’m not sure where sky fits in the modern streaming world. Without exclusive sport they have little competive advantage so be interesting as the sports right come up for renewal and what some of the global like Amazon espn, disney etc decide to do re sports rights
GLTH…hope something good happens for the long suffering shareholders. Will continue to watch with interest
Maybe considering announcing the next dividend.
Half year results in the bag.
Could get an update in January?
Definitely will get results in late Feb which should include a juicy dividend plus a potential on market share buyback.
Oops Jinxed the run.
Is a dividend likely or expected following the Feb results?
Below from the AGM in November:
Quote:
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.
So with 145m shares on issue now, their last indications means dividends should be between 12.4cps and 16.5cps.Quote:
“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.”
At the AGM the chairman stated all directors and the CEO would be reinvesting their proceeds from the buyback into more shares. Given this hasn’t happened does this imply they have lost faith or something else is going on in the background?
Keping up with inflation by the looks of it , funny how when they lost F1 and a whole host of other sports they never cut the cost ...
"We’re writing to let you know about a change to our Sky Sport pricing, with an increase of $3 per month from 1 March 2023. This increase allows us to continue to invest in and bring you the local and global sports you love. For 2023, this includes 5 world cups:
- ICC Women's T20 World Cup
- FIFA Women's World Cup
- Netball World Cup
- Rugby World Cup
- ICC Men's Cricket World Cup
You can also look forward to Premier League, Formula 1, Rugby Championship, Super Rugby Pacific, Super Rugby Aupiki, NRL, State of Origin, ANZ Premiership, Supercars, A-League, NBL, ANBL, PGA, LPGA, and more - it's your sport, your Sky.
"
The Sky Sport monthly price change to $37.99 ($33.03 excluding GST) will appear on your March bill.
Just in from Missus SSB:
FYI. Looks like new charges based on below email from Sky will be:
Sky Starter = $22.60 (no change)
Sky Ent = $22.17 (no change)
Sky Sport = $33.04 (increase 5.22)
SoHo = $0
My Sky service = $13.04 (prev $0 so inc of $13.04)
New subtotal = $90.85 (prev $72.59)
GST = $13.63 (prev $10.89)
Total = $104.48 (prev $83.48 inc of $21.00 overall)
Extra 13 bucks for MySky! WTF!!
Sky sport now along with normal tv is the way to go
Poor programs,Poor service.
We have received your support ticket. Your Support Ticket Number is 00596700.
We are experiencing higher than normal volumes. Were working through queries as fast as we can, but it may take longer than usual (up to 10 working days) to get back to you.
As our phone line and chat services are also impacted, wed really appreciate you keeping those lines of contact free for urgent queries.
Remember you can complete a variety of tasks in My Account. Just log in or click on the register button to:
Check your current Sky subscription
View your bill
Access a range of self-service options
Thanks for your email,
I am just confirming to you that your request to remove Sky Sports off your subscription has successfully been actioned.
Your new monthly charge is now $82.30.
If you have any further queries or issues, feel free to contact us back.
Regards,
Yazmin
The Sky Team
That was quick.
https://www.nzx.com/announcements/405703
Sky Network Television Limited (NZX/ASX: SKT) will release its financial results for the six months ending 31 December 2022 on Thursday 23rd February 2023.
So ummm... When's our next divi... Neighbours just moved in and had sky installed yesterday, I asked them what channels they enjoy and they just shrugged voicing "I dunno, we have just always had Sky" as a holder I don't know if I like their response lol.
Cam Wallace and Mediaworks announce 90 redundancies. Were those cuts signalled when the business was offered to SKT?
I bet Cam and the other 2 ex Air NZ executives regretted leaving the airline. It's rarely a good idea to leave a big pond for a smaller one, just so that you can be the bigger fish. Unless of course we're talking about gems like FB, Amazon or Google before they hit prime time.
I expect maximum dividend to be $0.16 per share for the full year. Expect an interim of $0.06 or $0.07 cents per share!
We will never know the terms of the proposed SKT-MW deal - but media reports had it around $300M to buy MW (and assume $100M debt). Staggering.
And I remember talking to SM, and she looked me dead on and said that the SKT-MW deal was a very good idea but the only issue was 'timing' (and the timing was the issue for the major shareholders, not that it was a bum deal!). Ha!
Sky didn't dodge a bullet. Shareholders revolted and Management had no choice but to drop it.
In that sense, the checks and balances (to Management) for Sky TV worked really well actually.
12.5% price increase to $44.99 per month for Sky Sport Now Month Pass, from 1st March.
Rugby World Cup,
Netball World Cup,
FIFA Women’s World Cup™️,
ICC Women’s T20 World Cup,
ICC Men’s Cricket World Cup,
Premier League,
Formula 1,
Rugby Championship,
DHL Super Rugby Pacific,
Sky Super Rugby Aupiki,
NRL,
State of Origin,
ANZ Premiership,
A-League,
Supercars,
NBL,
ANBL,
PGA,
LPGA
... and more
12.5% increase wow that's a big jump.
Still a bargain. You probably couldn’t get a basic ticket, 1 beer and a hotdog for $44.99 to attend any of those events.
Yes indeed, very true.
Although we have been making the whole "Sky is great value because its less than the cost of a cup of coffee a day for most..." argument for years now. The fact that ~300K profitable satellite subs cancelled over two to three years (despite the cost being well under a cup of coffee for the average customer at the time - some $2.63/day...) is telling.
People are price sensitive whether we like it or not.
Will the current price increase trigger mass cancellations? Probably not. Will it inhibit growth? - I suspect so.
And the impressive line up of sport is only relevant for those fans who actually are interested in all of the different codes. If you are just interested in rugby and league (for example) then the other 'stuff' that you get as part of your sub is irrelevant - you are now paying $45/month for the rugger...and that feels expensive.
Everyone’s position will be different. Depending how bad the economy gets I think the first thing to go from peoples sport watching budgets will be
1. taking the family to the at ground experience…tickets+beer+food = empty wallet
2. second to take the hit will be watching sports at the pub with a few mates..4 beers each and fries =a half empty wallet
3. staying home and having a few friends over to watch sky sports $44.99 + byo beers= keeping your house
Skysports will prove pretty resilient I think.
No longer a holder..just a watcher
I just signed up for Neon and binge watched both seasons of The White Lotus. Neon is great value. The White Lotus is exceptional - I haven't enjoyed TV so much since Game of Thrones. Not counting the last season of course which was... disappointing.
I hope Sky retains HBO's content for the sake of shareholders.
I'm no longer a Sky shareholder. Well, I own FNZ so I guess I am in an indirect, miniscule way.
Bucking the trend in an inflationary environment. very interesting.
Odd trading in Oz....
2.68 in Oz... Odd indeed...!
Unless there is undisclosed news after the NZX close there appears to be an algo that has been caught short the NZX / ASX cross arbitrage...
The A$2.68 trade was a single buy of 9 shares for $24 up $0.18 which fell back into the close, but still up $0.30 for the day closing $2.55. Signs of an illiquid market and wide spreads, with a meagre 23.7k shares traded in total for $55.9k
Wouldn't read too much into it, just some Ozzie punters getting excited.
That's $2.78 close on ASX. Someone knows something?
Like a great result with an excellent dividend as well as a share buyback to be announced?
ASM November 2022 - excerpt from Chairman address :
"The Board believes that Sky's shares are significantly under-priced.
With this in mind - and 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. By way of an example, based on the reduced
number of shares following the proposed return of capital and given Sky's net cash position, a $15
million buy-back programme would be expected to deliver a 5% uplift in both EBITDA and Earnings
Per Share."
$3 inbound.
No leaks from the boardroom.
Interesting timing of announcement. Perhaps trying to front foot operational cost blowouts? We will see in a couple of days..
Yes, they must be absolutely gushing FCF at the moment to have to start sacking more people.
Looks like any hopes for their customer service to improve are dashed.
I knew things would be getting very tight for sky from this financial year on. I think they will still remain profitable, but a lot of hopes are going to be dashed by those who are expecting Sky to continueto gush FCF.
From the Spark result:
Quote:
During the half Spark also announced its decision to exit the sports streaming market through a
content partnership agreement with TVNZ, resulting in a one-off provision of $52 million
Interesting depth. I feel like selling 90 shares at 2.41, and taking that on the chin, just to see what happens.
One serious bidder for 14,000 at $2.40.
Well, it goes without saying that Sky (and any other business) should always be on the lookout for efficiencies, savings etc. And if they really can get better outcomes while saving money by sacking the locals and hiring from the sweatshops, ok I suppose.
The bigger issue for Sky though is that they are still yet to articulate a cohesive growth story that is believable. Even in the latest update all Sophie can offer are platitudes.
I mean, ok Sophie - sure. But what does that actually mean? She cannot tell you because she doesn't know.Quote:
“Our focus at Sky is to deliver excellent experiences for our customers, grow new revenue streams, carefully manage our costs, and maximise the value of our exceptional range of content,” said Sophie Moloney, Chief Executive.
So far her best idea was to buy Mediaworks. And that was an absolute stinker - they are also bringing out the firing squad to desperately cut costs according to media.
And I can still hear the crickets in the distance in terms of the ground breaking (LOLL) new STB that hardly anyone is going to want. Be very interesting to see if SM can commit to a launch date. I mean, even those who don't like my criticisms have got to admit - for a company whose main revenue source comes from STB customers...to be finding it so difficult to launch an upgrade is pretty alarming.
And let's not forget - we should have had the new STB launched in 2019 (when it still had a chance of being relevant). It was called Infinite Video (Cisco) and Martin decided to kill the project when it was near completion and Sky had already spent ~$40M in development costs. At the time his view was we could bleed MYSKY customers dry and focus on launching apps instead. I thought his idea had merit, but somewhere along the line Leadership changed their mind and decided a new STB was needed after all! And so now more cost, more R&D, and so far just a soft launch to a few to trial it.
Just an absolute fiasco.
I think the resuts for the HY will be fine. A modest divvy will be handed out, and some of the posters salivating for some sort of an on market buyback may yet get their wish. This may provide opportunities for short-term trading of the stock.
Some small panic sellers or suspect manipulative sellers in advance of the results. Hardly think that they are in the know. So am confident that the result tomorrow will chase the SP to at least $2.70.
Downtrend intact.
Announcement of layoff's did nothing to change market sentiment.
Wasn't enuff to bring the former perma-bull Mr T back into the fray.
There is no downtrend. The TA uptrend from 30/9/22 is still well intact, in fact the golden cross (50MA up through the 200 MA) was 10/2/23. Technically this SP is still in good shape, it would have to fall below the longer term 50MA, and about $2.35 to even consider that the current trend has reversed, albeit all basic indicators are saying sentiment here has topped out. Tomorrow's results will no doubt influence this.
No one imo should give a toss what MistaTea has to say anymore, he was serial upramper when he was holding and a serial downramper when he's not (totally biased). No credibility anymore imo, none, he shredded his credibility when he abandoned SKT after ramping it for years during a down trend, and has slagged SKT and the Board and management ever since it has recovered, now vocal on another site.
Very aptly put and to the point Baa_baa.
A significant portion of their market is low effort couch potatoes who have a low churn rate. These clients are too valuable to be put through a "your call is important to us" phony rigamarole common to overseas call centres where endurance is required to resolve issues.
Boop boop de do
Marilyn
So let me get this straight…
When someone is actively buying a stock because they are bullish on the future prospects…and then some time later that same person perceives that the situation has changed, is not satisfied with Board/Management decisions and no longer believes the company has an especially bright future…and sells his stock by virtue of now having a bearish outlook on the company… you think that is odd/wrong?
If life was as simple as upramper/downramper then I would have held on to my stock and kept ‘upramping’ regardless of personal feelings/opinion as we led up to the dividend and capital return. But I did not.
I appreciate a number of you probably regret not selling out when volumes allowed, but let’s not attempt to rewrite history.
Good set of numbers with 6c interim divvy and $15m buy back. Positive outlook with focus on more payout and FCF generation.