SKT - Sky Network Television

[entrep]

https://stoppress.co.nz/movings-shakings/sky-appoints-new-chief-financial-officer/

Ciara McGuigan (new Sky CFO starting next April) was previously CFO at Mediaworks

Mediaworks about to go under:

Mediaworks referred to govt enforcement team over lack of financial statement

https://www.stuff.co.nz/business/money/300978756/mediaworks-referred-to-govt-enforcement-team-over-lack-of-financial-statement


Sky TV will be the likely buyer hence buyback has been paused.

Still can't get over the fact these muppets thought it was a good idea to buy Mediaworks. I mean, JFC.

[LoungeLizard]

Yeah, hard to believe that they were actually serious - maybe at the point of buying - before shareholders and the media got wind of it. The whole episode just highlighted the deficit in trust between the board and shareholders. Every announcement, every pledge needs to be treated with suspicion and skepticism.
 That's why I am worried about the continued silence on the re-commencemnt of the buyback. In should be just a routine matter but not with SKY. No news is usually bad news.

[Mysterion]

Yeah, hard to believe that they were actually serious - maybe at the point of buying - before shareholders and the media got wind of it. The whole episode just highlighted the deficit in trust between the board and shareholders. Every announcement, every pledge needs to be treated with suspicion and skepticism.
 That's why I am worried about the continued silence on the re-commencemnt of the buyback. In should be just a routine matter but not with SKY. No news is usually bad news.

https://tvtonight.com.au/2023/02/seven-talks-down-rumours-of-media-merger.html

Lots of merger talks in Australia.

If Sky can get Mediaworks at a decent price it's worth buying. Sky need to diversify it's revenue and merge to create a bigger company to compete with off shore streaming giants.

[Mysterion]

https://content-technology.com/people/sky-appoints-new-cfo-ciara-mcguigan/

Chief Executive Sophie Moloney said: "Ciara is a highly-regarded leader and finance professional with a strong background in media, and we are thrilled that she will be joining the Sky team. We have just delivered solid results for FY23, building on the positive results of recent years, and we have a strong and ambitious plan for the coming three years and beyond. I am personally delighted to have someone of Ciara's calibre and experience joining the team at this exciting time. I look forward to the contribution that she will make as we look to grow revenue, increase customer satisfaction and employee engagement, and double our dividend by FY26."

"We have a strong and ambitious plan for the coming three years" = Merging with Mediaworks

"double our dividend by FY26" = yeah, because MediaWorks will contribute to the earnings but you'll have $100m of bank debt!

[Mysterion]

"We look forward to welcoming Ciara to the team, as we continue to strive to be Aotearoa New Zealand's most engaging and essential media company."

If this isn't a clear give away they're buying mediaworks then just lol.

Media company = Media works

[LoungeLizard]

Can't see how buying a debt-ridden, loss making company full of embittered, demoralised staff could be seen as as anything but a recipe for SKY to finally go under. Investors would take flight and the SP would collapse overnight.
But you could be right Mysterion. I will exit completely if they don't announce the re-commencemnt of the buyback soon.

[Mysterion]

Can't see how buying a debt-ridden, loss making company full of embittered, demoralised staff could be seen as as anything but a recipe for SKY to finally go under. Investors would take flight and the SP would collapse overnight.
But you could be right Mysterion. I will exit completely if they don't announce the re-commencemnt of the buyback soon.

Wallace got 15% buy out 5 days after Sky results.

Mediaworks doesn't post results for end of year at June and Sky stops buy back same time?

Probably back in exclusive talks again.

Something is brewing behind the scenes for sure.

It's happen bro!

[Mysterion]

They're probably putting together the fancy presentation now in time for the November shareholder meeting as it will likely require shareholder approval.

Big boys like Jupitar will likely be on board as they want the long term return.

Probably use cash balance plus bank debt to fund.

CFO in place.

Probably used mostly last years due diligence so process will be super quick this time round.

Probably why Pooman is holidng off from topping up and buying KMD instead.

[Mysterion]

They'll announce and then Pooman and Sophie will likely be in there to buy some cheapies!

[Mysterion]

https://www.nbr.co.nz/comings-and-goings/sky-tv-announces-new-head-of-sales/

Gibb joins from oOh! Media where he was most recently head of product and revenue

oOh!media is an outdoor advertising company

Fits right in with Mediaworks billboard business!

[Mysterion]

Sky chief media and data officer Lauren Quaintance commented: "Ben is one of the most highly regarded strategic sales leaders in our industry and I can't wait to welcome him to Sky in this newly created position as we focus on the transformation of our sales offering.

Sales offering = Sky billbaords!

[Mysterion]

Sky TV annual meeting less than a month away according to NZX



Me looking for Sky TV shareholder meeting on Computershare website:
https://apps.computershare.com/MeetingsShareholderWeb/FindMeeting?Country=NZ




-Chorus NZ
-Has annual meeting on same day
-Announces shareholder meeting last week.
-Buys back stock last week

[Mysterion]

https://www.afr.com/companies/media-and-marketing/warner-bros-streaming-boss-flags-local-max-roll-out-in-blow-for-foxtel-20231001-p5e8x9

HBO Max rolling out in 2025. So current contract with Warner unlikely to be renewed.

Rugby rights expiring same year.

Hence shift to advertising model. Which is why the purchase of Mediaworks is necessary for survival long term!

[LoungeLizard]

It does all look a bit ominous. Radio silence usually means SKY management are going to send their shareholders over the top into a hail of SELL orders. Not me though. If the buyback doesn't recommence I will be waving the white flag.

[Relaxed]

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.