I think most were hoping the earlier version was the case ;)
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Reading public comments - it seems most are very negative to Sky yet they love the programs. Maybe it is time Sky rebrand or do the merger or just close shop. Or maybe with a woman now leading the ship she may just may be able to change the public's view on SKY and get this dog back up above water.
We don't need anymore people on the payroll!
Things must be going good if Handley has been thrown out. There's no way he would have walked from the job as it was likely his main source of income and most reputable occupation. He's been given the boot, most likely by Sophie.
Looks like the article has been edited. It did say $2b for a 15% stake.
Here's an older version that has the quote:
https://www.newstalkzb.co.nz/news/sp...-billion-deal/
A $2 billion total valuation is high-ish but seems about right.Quote:
Sky News UK now suggests a 15 per cent stake could be sold for an estimated $2 billion.
Ah that makes some sense.
Important to note that if this entity does in fact come to fruition, there is some increased danger for Sky of this entity easily being able to raise capital and perhaps starting an OTT service that goes directly to consumers once the current broadcast deal expires (when nearly all consumers are comfortable with internet delivered content).
Looking at it from NZ rugby perspective, I dont see why they would continue letting resellers take a large chunk of the profit from virtually the only sport most kiwis are willing to pay for when going direct to consumer is incredibly easy now (whereas in the past you had no other choice but to go through a broadcaster).
This argument has been litigated on this thread for the last 10 years.
Yes, this is why the stock is down 90%.
However, the reality is that third party media aggregation continues to play an important part in the industry.
Point in case, Sky's recent multi year content deal with Discovery, in which Discovery recently launched it's own OTT service but resigned anyway. If you look at Discoverys earning statement you will see a large part of their revenue comes from resellers.
It just comes down to valuation. Does Sky's current market capitalization justify the long term risks as a reseller of content. I have one think that there's a comfortable cushion with the clean balance sheet and EBTIA earnings. The kicker is Sky's branding and market awareness in NZ. It's a household brand and part of history.
I'm in it for a merger/takeover and don't see Sky as a stand only business past 2025.