SKT - Sky Network Television

[Mysterion]

Glassdoor review

https://www.glassdoor.co.nz/Reviews/MediaWorks-Reviews-E399777.htm



"financially difficult circumstances"

Unlikely Mediaworks assets are greater than 50% that of Sky TV, hence not a major transaction and shareholder approval unlikely to be required.

Could be a net positive if acquisition price is in the $50m - $75m range. Deal could be funded with mostly cash and small bank debt.

Additional income stream and synergies likely to keep "lights on" over medium term. Huge uncertinatly post 2025 with up coming content renewals. If the can secure co exclusive rights on fair terms then the adverting model could prove a success if costs remain low.

Not all bad news. Need details of acquisition price.

[LoungeLizard]

I'd have to disagree. Mediaworks are no longer a viable going-concern, are loss making and have unsustainable debt. Yes, an aquisition - if it is on the cards - would add revenue to the top line, but if SKY acquire it, the effect on the bottom line I believe will be crippling.
 Some businesses just should not be bought at any price. Sophie and Bowman are not Buffet - they don't have the ability to distinguish between value and price. I wouldn't trust them to buy a corner shop let alone a completely new media venture.

[Waltzing]

have they got that box sorted yet...

the only solution is sell RNZ ....

privatise the whole space ... then watch these companies make it big ...

ban all public broadcasting and send W Jackson to China ... he could be as famous as ...

https://en.wikipedia.org/wiki/Rewi_Alley

[Sideshow Bob]

Well the Mediaworks speculation was wrong.....at this stage at least

https://www.nzx.com/announcements/419908

Sky pauses Share Buyback – Non Binding Indicative Offer received

On 31 March 2023 Sky Network Television Limited (Sky) announced an on-market share buyback programme. As contemplated by that announcement, Sky paused purchases under the programme prior to release of its full-year results on 24 August 2023.

Prior to expiry of the black out period during which the buyback programme was paused, Sky received a highly conditional, non-binding preliminary expression of interest from a third party to acquire all of the shares in Sky (NBIO).

Sky has commenced engagement with the potential acquirer, although discussions are at a very early stage. As such, there can be no certainty that any transaction will eventuate. Given it is a highly preliminary, incomplete and confidential proposal, Sky is only disclosing receipt of the NBIO at this time in response to enquiries as to the current status of the buyback programme, and, subject to its continuous disclosure obligations, does not propose to make any further comment at this stage.

In these circumstances, the board has continued the pause in Sky's share buyback programme since release of the full-year results on 24 August 2023. Sky will confirm any recommencement of the buyback programme in due course.

ENDS

[Crackity]

Well the Mediaworks speculation was wrong.....at this stage at least

https://www.nzx.com/announcements/419908

Sky pauses Share Buyback – Non Binding Indicative Offer received

On 31 March 2023 Sky Network Television Limited (Sky) announced an on-market share buyback programme. As contemplated by that announcement, Sky paused purchases under the programme prior to release of its full-year results on 24 August 2023.

Prior to expiry of the black out period during which the buyback programme was paused, Sky received a highly conditional, non-binding preliminary expression of interest from a third party to acquire all of the shares in Sky (NBIO).

Sky has commenced engagement with the potential acquirer, although discussions are at a very early stage. As such, there can be no certainty that any transaction will eventuate. Given it is a highly preliminary, incomplete and confidential proposal, Sky is only disclosing receipt of the NBIO at this time in response to enquiries as to the current status of the buyback programme, and, subject to its continuous disclosure obligations, does not propose to make any further comment at this stage.

In these circumstances, the board has continued the pause in Sky's share buyback programme since release of the full-year results on 24 August 2023. Sky will confirm any recommencement of the buyback programme in due course.

ENDS

And the announcement is not marked price sensitive......

Come on SKT and NZX 🤭

[Mysterion]

-No trading halt
-No price
-No names
-No details

They had to release this because you retards have been spamming them with emails!

[Mysterion]

MediaWorks - $110m impairment

https://www.nzherald.co.nz/business/mediaworks-financial-results-97m-loss-110-million-impairment-media-insider/V7C3VPUBRJGRNKP5ZC5E5GJ4YY/

[Mysterion]

UPDATED announcement

Carbon copy except now price sensitive

[Teitei]

MistaTea this morning?

[Mysterion]

I agree
I actually sold out a month ago at a bit below the current price.
I just decided that the risks were growing and the upside was not.

[Mysterion]

MistaTea this morning?

[Mysterion]

Trading halt!

[Teitei]

A takeover offer will have a $3 in front of it.

[Mysterion]

They're getting drilled because of lack of details!

[Mysterion]

https://www.stuff.co.nz/business/133113209/mediaworks-reports-97m-loss-110m-drop-in-value

Mediaworks EBITA $34.4m

Who ever is buying Sky is likely buying Mediaworks.

Seems weird how both news events drop on the same morning!