There you go, the Chairman has said there's no substantial tyre kicking, that's out the door, done and dusted.
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There you go, the Chairman has said there's no substantial tyre kicking, that's out the door, done and dusted.
Definitely a robot. I have to say I am looking forward to next years progress. - I am sitting on an open plan at the moment waiting for Sky broadband to be offered.
He said that no offer has come forward yet. Martin didn't even respond to the question either.
Clearly says that consolidation is happening in the industry and you could tell by his tone that there is obvious merit in the idea of a merger/takeover.
It's clear that if there isn't a merger/takeover then Sky is going to enter the Broadband, Mobile, and Energy retail markets as a reseller. The existing Satellite customer base would be used as leverage. How successful this would be is unknown but with a clean balance sheet there's little downside risk.
After today, I'm more certain than ever that consolidation is the way forward. Once OSB gets clearance from the ComCom then Sky should be free to sell itself.
(just lol at the lease accounting question, was that you MT?)
They reinforce a clear plan to bolster and diversify revenue sources.
They confirm that FCF for FY21 (which will be to the tune of $70Mish) will be spent enhancing SkyGO, NEON, Sky Sport NOW and delivering the Broadband offer (all worthwhile things to spend money on).
Without making an absolute promise in these uncertain times, they have all but confirmed we will get a dividend this time next year.
They confirm that they actually expect to earn more money in FY21 than previously assumed.
And yet, at this moment, Mr Market says the business is worth less than it was yesterday. He really is a remarkable guy!
https://www.nbr.co.nz/node/227890
"The board was also open to approaches to buy Sky TV it told the meeting – although there was nothing specific to announce about that at this stage, he said."
Yeah, but being 'open' to an offer doesn't mean it is something they are pursuing.
If someone did approach Sky with a takeover offer, obviously they have to be open to it - they have a duty to shareholders to consider all possibilities that will enhance shareholder value.
They understand that consolidation is the recent trend among media and telecommunication companies. If they're going to go into "Energy" broadband, mobile, and all these other markets, then it makes sense to join forces.
In my opinion, once OSB is gone a merger will likely happen soon after.