SKT - Sky Network Television

[mistaTea]

Does she know you're down $40K?

I wasn't at $2.75!!!!

[Mysterion]

I wasn't at $2.75!!!!

[Mysterion]

Have you told PK yet?

[mistaTea]

Have you told PK yet?

As if he gives a damn.

[Mysterion]

What about Johnny Boy over at OP?

[Old mate]

I struggle to find stuff to watch on sky now. Still enjoy the rugby but watch less of it than I used to so I might pull the pin on subscription and try something else. Based on this I sold out of shares also recently. Could be tough times ahead for sky if economy stays under the pump.

[mistaTea]

So...I ummed and arred about whether or not to keep a handful of shares...

Had decided earlier that I would keep a token amount.

Then I just heard (from a very reliable source - you will just have to take my word for it) that Sky have just canned free Sky TV subs for staff. I imagine this has not gone down terribly well.

And I thought to myself - chr***, how bad have things deteroirated? How desperate are these guys that they are now penny pinching to the point of removing key staff benefits?

Pretty grim I think and myopic. Just another thing that highlights how management and I just do not see eye to eye any more.

So I hit the SELL button and now no longer own any Sky shares.

[Plata]

Good on you for getting out and from what I can surmise, greatly reducing your original loss over the years. I think the recent result has shown that the "cashflow machine" narrative about Sky is not true at all for the next 4 years at least, and Sky's future past that point is pretty hard to predict. As you have pointed out re spark, there are other places to park your $$. I reckon Sky will eventually yield closer to 10% as people realise the bumper cash flows sky generates are largely reinvested to stop the haemorrhaging, and not really "free cash flow" at all.

[mistaTea]

Good on you for getting out and from what I can surmise, greatly reducing your original loss over the years. I think the recent result has shown that the "cashflow machine" narrative about Sky is not true at all for the next 4 years at least, and Sky's future past that point is pretty hard to predict. As you have pointed out re spark, there are other places to park your $$. I reckon Sky will eventually yield closer to 10% as people realise the bumper cash flows sky generates are largely reinvested to stop the haemorrhaging, and not really "free cash flow" at all.

Bang on, 100% correct.

I expect sky to trade at a yield higher than 10%. The risk is just too damn high now.

[Jay]

So it was Mista T forcing the price down 
Good on you, it may start rising now.
I hold a very small number compared to you (what you had) - Will hang in there for now and see what happens, Still well in profit.... at this stage!

[LoungeLizard]

https://www.stuff.co.nz/business/129875474/sky-tv-bosses-tell-staff-no-more-free-tv

Right you were, MistaTea. Another media disaster by the Board...

[mistaTea]

https://www.stuff.co.nz/business/129875474/sky-tv-bosses-tell-staff-no-more-free-tv

Right you were, MistaTea. Another media disaster by the Board...

Was just reading that!

Yes, my sources are very reliable!

What an absolute mess.

Thank God I don't own any shares any more. I still get my divvy on the 23rd and then that's the end of the road.

[Mysterion]

https://www.stuff.co.nz/business/129875474/sky-tv-bosses-tell-staff-no-more-free-tv

Right you were, MistaTea. Another media disaster by the Board...

A briefing on Tuesday morning to staff "went down like a lead balloon", people present told Stuff.

[Mysterion]

"The optics are terrible," they said. "Imagine if I am standing around the barbecue this summer and someone says, 'Oh, you work at Sky. Did you see the All Blacks last night?' And I say, 'Ah, no mate – we have to pay for it, so I don't have Sky at home any more.'"

[Mysterion]

So I hit the SELL button and now no longer own any Sky shares.