SKT - Sky Network Television

Started by Plata, Jun 11, 2022, 10:26 PM

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winner (n)

Market Close report -

Across the Tasman, the S&P/ASX 200 Index had risen 1.55% to 8192.4 points at 6pm NZ time, no doubt exhilarated by the A$3.4 billion (NZ$3.76b) purchase of Foxtel by the London-based sports streaming platform DAZN.

Previous owners News Corp and Telstra will take stakes of 6% and 3% respectively in DAZN, with shareholder loans to Foxtel of A$578m being repaid.

Paul Robertshawe, chief investment officer with Octagon Asset Management, said the purchase implied that Sky TV "is pretty cheap and it may prompt talk about someone wanting to buy Sky".

Sky TV, up 8c or 3% to $2.75, has a content-sharing agreement with Foxtel.

Shareguy

#1096
DAZN buys Foxtell for more than 7x Fiscal 2024 Foxtel EBITDA.

Sky at $2.76 from Craigs note is currently at 2.3 times.............

https://www.businesswire.com/news/home/20241222637954/en/News-Corp-Announces-Agreement-to-Sell-Foxtel-to-DAZN-for-Enterprise-Value-of-A3.4-Billion


LoungeLizard

Quote from: winner (n) on Dec 23, 2024, 07:05 PMMarket Close report -

Across the Tasman, the S&P/ASX 200 Index had risen 1.55% to 8192.4 points at 6pm NZ time, no doubt exhilarated by the A$3.4 billion (NZ$3.76b) purchase of Foxtel by the London-based sports streaming platform DAZN.

Previous owners News Corp and Telstra will take stakes of 6% and 3% respectively in DAZN, with shareholder loans to Foxtel of A$578m being repaid.

Paul Robertshawe, chief investment officer with Octagon Asset Management, said the purchase implied that Sky TV "is pretty cheap and it may prompt talk about someone wanting to buy Sky".

Sky TV, up 8c or 3% to $2.75, has a content-sharing agreement with Foxtel.

Well, it was only a year ago that the SKY Board walked away from negotiations with an undisclosed private equity buyer who (it was rumoured) was offering $3.70 per share - from memory a 50% premium on the price at that time. We know negotiations were taking place but the Board didn't make anything public and shareholders are still none the wiser as to what the offer was.
Sky Boards, old and new, are notorious for putting their interests above shareholders, so I wouldn't hold your breath about a successful takeover anytime soon. 


Plata

Really climbing of late... all the rumours in the news? or do some people know some fact?



Ferg

Not a good sign...CFO of less than 12 months is being replaced from today.  Half year results due 21 Feb.
https://www.nzx.com/announcements/446243