Haha yeah, note to self: remove gifs when replying.
I hope they don't merge. But like Ogg said, something is better than nothing.
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Love it perfect timing Ogg and Co welcome back. And talk about timing to consolidate as well to bring us up into the $ rather than cents.
Back from the naughty corner!
Another huge off market at 1.34pm
;) ;) ;)
Property sale will come through soon enough as well.
Any predictions on the SP before consolidation?
With the new STB + diversifying revenue streams with broadband... Sky is on the cusp of reaching an important phase...
When STB + Commercial + Advertising + Broadband revenue cover all OPEX + Keep the lights on CAPEX...then it means all the streaming revenue from NEON, Sky Sport NOW and Vodafone TV retransmission becomes 'money for jam'. This money can be used for growth CAPEX as well as dividends.
Sky have made no bones about needing to make significant further permanent savings. This can only mean more redundancies. I believe when MS was CEO there was 1200 staff and he wanted to halve that. They are down to around 900 or so...so lots of room for reductions. And the new 'lean and mean' Sky TV does not need a thousand bums on seats to get the job done.
I appreciate more now why they are so keen on the STB. It's all about getting to the point where the base pays the bills and streaming generates the profits.
BlackCrane and Osmium both keen on buybacks it seems. Between them they own ~10% of Sky...and Osmium are probably going to increase that.
I think a post consolidation buyback is now inevitable with the proceeds from the property.
FY22 will see the expected dip in earnings, but then I expect to see earnings lift significantly from FY23 as per the commentary above. With streaming expected to increase by 10%-15% CAGR for the next few years, the FY23 and beyond FCF could be very very healthy.
High dividends. High share price.
For those who may not know what Black Crane Capitals' investment thesis for Sky is. Well worth a listen.
This was an article on the HBO deal. This part is interesting. The only Sky Original I've watched was the crime show on NEON. I couldn't get past Episode one lol
A spokeswoman for Sky says the two companies have also signed a co-production agreement to create original New Zealand programming in NZ with a deal inked between Sky Originals and Warner Bros International Television Production NZ.
"We're not able to reveal details of the productions yet but hopefully that part will be well-received by the local creative sector after recent news," the spokeswoman said in a reference to Amazon pulling its Lord of the Rings production from NZ.
https://www.nzherald.co.nz/business/...2K5ZRSGHDIKDE/