On a different note, if you don't have Sky Sport, you can see the All Whites game for $5:
https://www.skysportnow.co.nz/packag...ackagesSection
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On a different note, if you don't have Sky Sport, you can see the All Whites game for $5:
https://www.skysportnow.co.nz/packag...ackagesSection
That's a brilliant offer...did they promote it at all ? Good way to hook people onto the product. If not...they missed a trick.
If I didn't already have SkySportNow I would definitely go for it.
On a different note....I am even more sure that the picture quality of sport via the net is not as good as that delivered via satellite.
But it is good enough for most things.
https://www.nbr.co.nz/inst-investors...or-mediaworks/
Stinging rebuke from some institutional inecstors in relation to the MW deal.
I am just shocked that the Board have allowed this fiasco to continue as long as they have.
And the lies...about Sky being in 'early' stages of discussion. What a joke. You don't get to the point of having exclusive talks with a seller if the CEO's are just sitting down to have coffee.
Let's not forget, It was on 20 May (about 4 weeks ago) that Sky updated investors saying they were deferring capital allocationd decisions. And by that stage talks would have been going on for a while.
Some of my favourite comments from the instos in this article include:
“That’s its second point of call; its first point call … is to run the business, try and turn it around, to get churn down, to get cost out and to grow its broadband offering, because, really, where does Sky go? It probably makes most sense that it goes to Vocus [Two Degrees].”
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“To think we've got a famous distressed debt/junk bond vulture investor in Oaktree … they’ve been a classic private equity player, cutting and bleeding every asset dry.. they’ve sold everything they can, they’ve done sale and leaseback on the broadcasting equipment – they’ve stripped every ounce of cash out of this thing. They’re $100m in debt, levered to the eyeballs and they haven’t been able to sell it.
"We're going probably to a recessionary environment... So, you know, they're now trying to get rid of a cyclical advertising business to some mugs."
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From Osmium:
“We’re perplexed by the idea. We don’t know any other shareholders we have talked to who have said ‘that’s a great idea’."
NBR says today
When MediaWorks sold its TV assets to Discovery Inc in December 2020, it is understood to have offered Sky its radio stations and billboards for $100m plus its $100m debt.
Sounds like the SKT board Is now backtracking and it will now be a miracle for them to get shareholders’ approval.
The only distressed asset Sky should be seriously looking at buying is its own shares.
Silly isn't it, why would they want to get loaded with debt under current economic environment when you're debt free already and have nice cash pile. Just focus on growing core business, return the cash that belongs to shareholders in some form. Don't be stupid and doing anything silly as it will never be forgiven by market.
The deal is very clearly dead with that institutional feedback. Onwards and upwards.