SKT Sky Network Television Limited.

[mistaTea]

https://i.imgur.com/MvNBI7d.jpg
I don’t see how the two ideas are linked.

[Ogg]

I don’t see how the two ideas are linked.

https://i.imgur.com/0Hr0bM3.gif

[mistaTea]

https://i.imgur.com/0Hr0bM3.gif

Yeah, so I still don’t get it…

[Ogg]

Yeah, so I still don’t get it…


https://www.youtube.com/watch?v=uAXtO5dMqEI

[mistaTea]

https://www.youtube.com/watch?v=uAXtO5dMqEI

Ahhh I see!

So I substitute ‘spoon’ for ‘property’?!

There is no property!!!

[Ogg]

Ahhh I see!

So I substitute ‘spoon’ for ‘property’?!

There is no property!!!

https://i.imgur.com/vAgyl7b.jpg

[winner69]

https://i.imgur.com/vAgyl7b.jpg

That’s Mistatea’s diagram he put on his what’s his names whiteboard

[mistaTea]

That’s Mistatea’s diagram he put on his what’s his names whiteboard

Yes it is! The diagram I did for Blair that delved into business fundamentals!

I don’t really appreciate Ogg putting my IP out there without permission.

[uravgtrader]

I say nothing will happen on the 29th June.

*Buys another 10,000 shares

https://m.imgur.com/lrxwFQW

[Ogg]

That’s Mistatea’s diagram he put on his what’s his names whiteboard

https://i.imgur.com/OOokmSL.gif

[jimdog31]

https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcSzil-C0zGUU44pMmdJkNlQy458JsCre7lLgg&usqp=CAU

Ogg in his living room

[mistaTea]

https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcSzil-C0zGUU44pMmdJkNlQy458JsCre7lLgg&usqp=CAU

If I didn’t know any better I’d be thinking that you guys are taking the p1ss out of me!!!

[Ogg]

https://i.imgur.com/JK3XO4e.jpg

[maclir]

Vocus and 2 Degrees are vertical businesses, Sky is a horizontal business, it does not want restrictions on who can use its services. A merger makes little sense.

[RTM]

Vocus and 2 Degrees are vertical businesses, Sky is a horizontal business, it does not want restrictions on who can use its services. A merger makes little sense.

Could you help me here Mac....I thought both V and 2D would have been characterised as Horizontal businesses as well.
More than happy to have my understanding improved.

[Alpha]

Here are the next media mergers that make the most sense
https://www.cnbc.com/2021/05/29/media-mergers-whos-next-.html?__source=iosappshare%7Ccom.apple.UIKit.activ ity.CopyToPasteboard

no mention of Sky vocus 2 degrees.

[Ogg]

Vocus and 2 Degrees are vertical businesses, Sky is a horizontal business, it does not want restrictions on who can use its services. A merger makes little sense.

It's more complicated then that.

Vocus and 2 Degrees operate in a market dominated by a duopoly (Spark & Vodafone). The telco/broadband market is price competitive and the margins are thin. Infrastructure costs are high and it requires significant investment to maintain a solid network.

2 Degrees has struggled in the past, it's parent company has accumulated significant debt over the years. Vocus has also struggled, and has mainly pursued a horizontal integration strategy by consolidating smaller players in the market. Most of the investment has been focused in Australia, leaving the Vocus NZ arm mostly a retail reseller business.

Sky does have the benefit of having a monopoly on pay TV. It did (and today to a small degree) generate huge content, owned significant infrastructure, and sold this all direct to the consumer. Obviously over the years, the business has deteriorated to the point where it's now just a reseller and aggregator of media content and has little to no "moat". It has broadened out to broadband but Sky is just really offering a "clip on" media service which has only moderate appeal and is not a "must have" to most people.

The point is, does it make sense to merge all these businesses? From a cost/synergy point of view, yes it does. Access to capital will also be cheaper as a combined entity. Cross sell opportunities will be compelling to customers. But most importantly it levels the playing field and enables them to compete with the duopoly above. You could argue that why doesn't Vocus and 2 Degrees just merge and not Sky. But Sky does bring significant revenue, which can then be leveraged via debt, it also does align it will Spark Sport and Vodafone still pushes VTV. Media content is important to customers, remember, people get broadband to ultimately watch media. ie it's burgers and fries here!

It's just a question of working out a fair future value of these businesses. But I think ultimately, it's getting these 3 businesses under an ownership structure that has the capacity to borrow funds cheaply offshore. Vodafone NZ was demerged from the Vodafone parent company because Infratil and Brooksfield were able to raise debt at low rates. That's the key, it's getting access to cheap money! At the moment 2 Degrees is paying 8% in junk bonds. Vocus was about to get flicked off in an IPO (and likely debt loaded) but that's been called off now that MIRA has bought them out (using cheap money from overseas). Sky, funny enough, has ZERO debt, which is just a stupid as having 8% junk bonds as it's a waste of capital and really inefficient.

BIG IS GOOD!

https://i.imgur.com/bZXYK5N.jpg

[mistaTea]

I was looking back on some of the history of Sky and 2Degrees...found this article (https://www.stuff.co.nz/business/industries/85251812/sky-tv-and-2degrees-negotiate-as-vodafone-merger-decision-nears).

One of the 'snags' that hit the last merger attempt with Vodafone was that Sky could not show that they offered the same wholesale rates to everyone. The reason they couldn't show that is because the reseller arrangement with Vodafone was on different (superior) terms to what was being offered to 2Degrees.

That is not on for deals like these where Sky TV is the dominant Pay TV provider.

If another merger is on the cards, the good news is that Sky already have a wholesale deal in place with Vodafone. I believe the terms of that deal are fair and generous to Vodafone (as this was the 'next best thing' the two companies could do when they abandoned challenging the merger decision).

So, provided Sky can show that they would still offer legitimate and standardised wholesale rates to all parties I don't think there is an issue. I doubt Spark would say too much this time round given the contracts won for Spark Sport and their wholesale NEON and Sky Sport NOW deals.

Provided Vocus also maintain their wholesale offerings for broadband/mobile then there should be no issue on that front either (not that I think this particular item would even come up as an issue).

So yeah, I think if the parties have a desire to make a bigger, more compelling NZ business....and can agree on fair valuations for each business...then a Sky-Vocus-2Degrees merger would make a huge amount of sense.

The synergies are obvious.

[LaserEyeKiwi]

I was looking back on some of the history of Sky and 2Degrees...found this article (https://www.stuff.co.nz/business/industries/85251812/sky-tv-and-2degrees-negotiate-as-vodafone-merger-decision-nears).

One of the 'snags' that hit the last merger attempt with Vodafone was that Sky could not show that they offered the same wholesale rates to everyone. The reason they couldn't show that is because the reseller arrangement with Vodafone was on different (superior) terms to what was being offered to 2Degrees.

That is not on for deals like these where Sky TV is the dominant Pay TV provider.

If another merger is on the cards, the good news is that Sky already have a wholesale deal in place with Vodafone. I believe the terms of that deal are fair and generous to Vodafone (as this was the 'next best thing' the two companies could do when they abandoned challenging the merger decision).

So, provided Sky can show that they would still offer legitimate and standardised wholesale rates to all parties I don't think there is an issue. I doubt Spark would say too much this time round given the contracts won for Spark Sport and their wholesale NEON and Sky Sport NOW deals.

Provided Vocus also maintain their wholesale offerings for broadband/mobile then there should be no issue on that front either (not that I think this particular item would even come up as an issue).

So yeah, I think if the parties have a desire to make a bigger, more compelling NZ business....and can agree on fair valuations for each business...then a Sky-Vocus-2Degrees merger would make a huge amount of sense.

The synergies are obvious.

While I think a 2degress & Vocus combination makes total sense with massive synergies, I still struggle to see where the large synergies are for 2 degrees/vocus to purchase sky.

sky is a horizontal service company now, meaning it wants its content distributed over as many networks as possible to reach as many people as possible as every additional subscriber is almost 100% margin accretive. This is evident in it’s deals with Vodafone and spark to resell sky content, and the fact neon & skysport and rugbypass are available to anyone on basically any device with an internet connection.

(Spark Sport is in the same situation, it needs as many subscribers as possible regardless of whether they are a spark customer or not - just like lightbox did - and spark sport doesn’t really add value to spark by way of large synergies, other than the opportunity to offer a slightly discounted bundle which in some situation makes margin worse - for instance if those subscribers were going to use both products anyway at full price)

The only vertical part of the sky business is the satellite distribution system, infrastructure which is worthless to 2degrees & vocus, other than being a short term cash cow in steady decline, and even the skybox product will move to an IP based system in the not so far away future - via both internet connected skyboxes and also the skygo streaming app becoming a standalone product - bringing the “vertical” satellite business infrastructure to an end.

Having said all that, this doesn’t mean vocus and/or 2degrees won’t consider a merger. Telecom companies adding content plays are commonplace, even though they usually don’t work out in the long term. Also, If Vocus/2degrees wants to consider itself an infratil-like company that will hold seperate businesses, then buying sky now at its low valuation is a great idea (as it would be for any other investment company.

Here is a piece describing how telecom companies buying content companies is usually a bad idea (in light of the last weeks abandonment of WarnerMedia by AT&T): https://stratechery.com/2021/distribution-and-demand/

[mistaTea]

While I think a 2degress & Vocus combination makes total sense with massive synergies, I still struggle to see where the large synergies are for 2 degrees/vocus to purchase sky.

sky is a horizontal service company now, meaning it wants its content distributed over as many networks as possible to reach as many people as possible as every additional subscriber is almost 100% margin accretive. This is evident in it’s deals with Vodafone and spark to resell sky content, and the fact neon & skysport and rugbypass are available to anyone on basically any device with an internet connection.

(Spark Sport is in the same situation, it needs as many subscribers as possible regardless of whether they are a spark customer or not - just like lightbox did - and spark sport doesn’t really add value to spark by way of large synergies, other than the opportunity to offer a slightly discounted bundle which in some situation makes margin worse - for instance if those subscribers were going to use both products anyway at full price)

The only vertical part of the sky business is the satellite distribution system, infrastructure which is worthless to 2degrees & vocus, other than being a short term cash cow in steady decline, and even the skybox product will move to an IP based system in the not so far away future - via both internet connected skyboxes and also the skygo streaming app becoming a standalone product - bringing the “vertical” satellite business infrastructure to an end.

Having said all that, this doesn’t mean vocus and/or 2degrees won’t consider a merger. Telecom companies adding content plays are commonplace, even though they usually don’t work out in the long term. Also, If Vocus/2degrees wants to consider itself an infratil-like company that will hold seperate businesses, then buying sky now at its low valuation is a great idea (as it would be for any other investment company.

Here is a piece describing how telecom companies buying content companies is usually a bad idea (in light of the last weeks abandonment of WarnerMedia by AT&T): https://stratechery.com/2021/distribution-and-demand/

I think the thing that people seem to keep getting confuddled with is that Sky is not a content creator. Comparing Sky to AT&T selling Warner is nonsensical.

If Vocus was looking at buying or merging with a company that created content for distribution, I would agree with your points 100%. I think that would be an expensive recipe for disaster.

But that is not Sky's business. Sky is an aggregator of content and still hold a dominant position in NZ...reflected in their still-considerable FCF.

Sky has built and is maintaining many relationships with content creators so that they can continue as the preferred distribution partner. Merging with a business like that makes perfect sense for a telco. The huge CAPEX involved with creating ever more popular content doesn't factor in. Sky pay for the content they believe is compelling for their platform as an aggregator, or if the asking price gets too much they take a pass and work with someone else to distribute their content.

Sky UK have been a success offering telco services as part of their bundles. They do create more content than Sky NZ...but their primary role is also aggregator. Which is why Comcast was prepared to pay top dollar to acquire Sky.

Maybe no deal is possible between Sky, Vocus and/or 2Degrees. But we need to make sure we are comparing apples with apples when looking at changes that are happening upstream in the industry.

[Ogg]

While I think a 2degress & Vocus combination makes total sense with massive synergies, I still struggle to see where the large synergies are for 2 degrees/vocus to purchase sky.

sky is a horizontal service company now, meaning it wants its content distributed over as many networks as possible to reach as many people as possible as every additional subscriber is almost 100% margin accretive. This is evident in it’s deals with Vodafone and spark to resell sky content, and the fact neon & skysport and rugbypass are available to anyone on basically any device with an internet connection.

(Spark Sport is in the same situation, it needs as many subscribers as possible regardless of whether they are a spark customer or not - just like lightbox did - and spark sport doesn’t really add value to spark by way of large synergies, other than the opportunity to offer a slightly discounted bundle which in some situation makes margin worse - for instance if those subscribers were going to use both products anyway at full price)

The only vertical part of the sky business is the satellite distribution system, infrastructure which is worthless to 2degrees & vocus, other than being a short term cash cow in steady decline, and even the skybox product will move to an IP based system in the not so far away future - via both internet connected skyboxes and also the skygo streaming app becoming a standalone product - bringing the “vertical” satellite business infrastructure to an end.

Having said all that, this doesn’t mean vocus and/or 2degrees won’t consider a merger. Telecom companies adding content plays are commonplace, even though they usually don’t work out in the long term. Also, If Vocus/2degrees wants to consider itself an infratil-like company that will hold seperate businesses, then buying sky now at its low valuation is a great idea (as it would be for any other investment company.

Here is a piece describing how telecom companies buying content companies is usually a bad idea (in light of the last weeks abandonment of WarnerMedia by AT&T): https://stratechery.com/2021/distribution-and-demand/

Good summary.

I agree it is questionable weather Sky brings enough value to the table - but I think there are two stand out qualities that make it worth while.

A) Sky has 1m customer relationships.
B) Television advertisements.

TV ads likely make up the bulk of Vocus/2 Degrees marketing spend. There are 100 channels on Sky with TV ads. Spamming the 1m customers (who on average have 3 viewers per household) makes a lot of sense here.

https://i.imgur.com/s9oEc31.jpg

[Ogg]

Case in point:

Remember this company?

https://i.imgur.com/BTJ3xTP.jpg

Their ads were spammed 24/7 on TV and they spent like $50m on TV advertising and acquired 35,000 customers in a couple of years before being exposed by the ComCom as dodgy.

2 Degrees and Vocus should drop their brands and merge them with Sky. Sky has the most customers out of the two. They also have the stadium rights and have been around longer than both of them. You want to get the phone and broadband bills all on the same Sky bill, then show a massive "bundle Discount" on the last line.

[Ogg]

"Mr Singapore"

https://i.imgur.com/Gg4CFgR.jpg

[mistaTea]

A) Sky has 1m customer relationships.


Yes, 1M customers that they could market broadband and mobile plans to. 1M customers who are already consuming a product that broadband and mobile services naturally align with.




B) Television advertisements.


I doubt this even factors into the thinking much.

C) Skys FCF if higher than Vocus' EBITDA. Just pause and think about that for a second.

Sky's earnings seem to have largely stabilised too and there is no reason to think that Sky cannot grow earnings given they have shown they are able to control costs (i.e. they will walk away from content when the money gets silly - like RWC, NZ Cricket, Joseph Parker etc. Sky somehow get slammed for these decisions by the likes of Chris Keall, but it is actually management being incredibly prudent with shareholder capital).

[Ogg]

I think it's safe to say that Kiltearn are doing a full exit here and there's likely still more overhang to go.

I need a time machine

https://i.imgur.com/lJfPXuQ.jpg

[Ogg]

https://i.imgur.com/G1gc2Lw.jpg

[Ogg]

https://i.imgur.com/SDunkqO.gif

[Ogg]

https://i.imgur.com/HaObaWT.gif

[Alpha]

What is the count at now. They must be close to fully exited.

[Ogg]

What is the count at now. They must be close to fully exited.

40m left guesstimate.

[Alpha]

And Singapore is buying circa 2/4m a day?

[airedale]

They could be all out by the Investor Day Briefing at the end of June.

[Ogg]

And Singapore is buying circa 2/4m a day?

He's buying 6m a day, but he takes a day off every other day. Gonna take him another two weeks to clear.

[Ogg]

Here comes the dump at close.

Better get the tackle ready.

https://i.imgur.com/aOoeCfg.gif

[Ogg]

No silly sell offers today?

https://i.imgur.com/GQLhgU2.gif

[mistaTea]

No silly sell offers today?

https://i.imgur.com/GQLhgU2.gif


ASB securities is showing a Buy offer at 18c? But a sell offer at 17.2c?

Huh?

[Ogg]

ASB securities is showing a Buy offer at 18c? But a sell offer at 17.2c?

Huh?

It's pre close bro what are you on about?

[mistaTea]

It's pre close bro what are you on about?


And your point is...?

[Ogg]

Today:

https://i.imgur.com/0jwMZzH.jpg

[maclir]

Could you help me here Mac....I thought both V and 2D would have been characterized as Horizontal businesses as well.
More than happy to have my understanding improved.

V and 2D - "catchy". Think of them like a bank, they offer the same services as their competitors, but to their customer base only. Visa is horizontal, it operates across all the vertical businesses in its domain. So with Sky, they want the customers of all the verticals - the telcos - to offer Sky to their customers. Content is king, once Sky embrace a fully digital model with no household infrastructure they can concentrate on winning through market share. That's hard with the likes of Netflix and Disney about, but sport is still the king of content. That's their advantage, especially rugby.

[Habits]

https://i.imgur.com/aOoeCfg.gif

Casting about for Sky $hares... Only the good sky fishers can cast that far

[mistaTea]

V and 2D - "catchy". Think of them like a bank, they offer the same services as their competitors, but to their customer base only. Visa is horizontal, it operates across all the vertical businesses in its domain. So with Sky, they want the customers of all the verticals - the telcos - to offer Sky to their customers. Content is king, once Sky embrace a fully digital model with no household infrastructure they can concentrate on winning through market share. That's hard with the likes of Netflix and Disney about, but sport is still the king of content. That's their advantage, especially rugby.

Vocus offer wholesale broadband and mobile…

They also want their network to be available to other businesses…not just their own customers.

Not sure their business is as ‘vertical’ as you think mate!

[Ogg]

Sophie takes over. Overhauls the company. Cleans out the bullying work culture (see glassdoor reviews).


https://www.nzherald.co.nz/nz/sexual-harassment-and-bullying-workers-claim-toxic-culture-in-sky-tvs-sports-department/ZVZGBEDHS7FDJV5E3XKJH7PMWA/


https://www.youtube.com/watch?v=j2d6T5G2rrY

[Ogg]

Sky TV co-founder Terry Jarvis offloads manuka honey business to NZX-listed Me Today for $36m

https://www.nzherald.co.nz/business/sky-tv-co-founder-terry-jarvis-offloads-manuka-honey-business-to-nzx-listed-me-today-for-36m/XMBOANDPNJ7FBYAK4U2DCXSKWI/


https://www.youtube.com/watch?v=j2d6T5G2rrY

[maclir]

Vocus offer wholesale broadband and mobile…

They also want their network to be available to other businesses…not just their own customers.

Not sure their business is as ‘vertical’ as you think mate!

Not going to get in a backwards and forwards on this, but I will say when another business uses Vocus's network, they become, tada, a customer of Vocus. Tends to mean they're no longer a customer of another vertical.

[mistaTea]

Not going to get in a backwards and forwards on this, but I will say when another business uses Vocus's network, they become, tada, a customer of Vocus. Tends to mean they're no longer a customer of another vertical.

I appreciate you may want to shut this topic down - but you brought it up mate.

I still don’t see what your point is.

Spark and Vodafone are customers of Sky then? If 2Degrees got a wholesale reseller deal then they would be a Sky customer too based on your reasoning? So I guess sky must be vertical after all too!

[Habits]

I appreciate you may want to shut this topic down - but you brought it up mate.

I still don’t see what your point is.

Spark and Vodafone are customers of Sky then? If 2Degrees got a wholesale reseller deal then they would be a Sky customer too based on your reasoning? So I guess sky must be vertical after all too!

Vertical Integration is the combination in one firm of two or more stages of production normally operated by separate firms.

Sky distributes another's products, in other words, one stage

[mistaTea]

Vertical Integration is the combination in one firm of two or more stages of production normally operated by separate firms.

Sky distributes another's products, in other words, one stage

Yes that is true.

Most of Sky's revenue (by far) comes from satellite subs. Sky own the network & infrastructure (satellite dishes and set top boxes) and also retail the product (content). They also produce some original content (example: Crowd goes wild) and, until recently, produced live sport matches (OSB).

Vocus own a broadband network and retail it to their customers (Orcon and Slingshot).

In that sense I think you could argue that both businesses are vertical.

Now then, Sky is absolutely moving to become a horizontal business. They are doing this by offering their product to other business on wholesale terms. They currently have wholesale deals with Vodafone and Spark. The previous CEO made no bones about the fact that he wanted even more partnerships...with whoever was interested and where Sky would be a value-add to their service.

Vocus also offer their services wholesale so that other businesses can offer telco services. Their recent partnership with Sky shows that they are prepared to offer terms that effectively allow another company to enter the market and be a competitor. Yes, Sky is their 'customer' and they make money off any Sky Broadband customers...but less money than they do off Orcon/Slingshot customers (who might switch to Sky Broadband, given the bundles on offer).

So in that respect both businesses are horizontal (or rapidly moving in that direction anyway).

So, what the Hell is my point?

My point is that trying to pigeon hole these two businesses in black and white "this one is vertical, this one is horizontal" is meaningless in 2021. The world has moved on and is a lot more 'grey' now.

When I look at the two businesses and what they do, the notion that Vocus and Sky could not merge (or have one take over the other) because Sky is 'horizontal' and Vocus is 'vertical' leaves me scratching my head.

[maclir]

Of course they could merge. Doesn't mean it would make sense. That's my last comment, and you win the internet.

[Ogg]

Of course they could merge. Doesn't mean it would make sense. That's my last comment, and you win the internet.

What about Foxtel Australia merging with Sky NZ.

Would that make sense?

[Ogg]

https://i.imgur.com/QeIN3cz.jpg

[Ogg]

"Your usual today Mr. Singapore"

https://i.imgur.com/Mkyrlhy.jpg

[Ogg]

17.1

"Not a step back comrades, sellers will be shot!"

https://i.imgur.com/NNqwnOI.gif

[sb9]

40m left guesstimate.

As per last disclosure released to NZX on 11th May, they hold 83,539,789 under Kiltearn Partners LLP and 44,663,206 under The Kiltearn Global Equity Fund. So combined they hold close to 128mln shares. I think they have bit more distance to go and thus continued overhang for a while yet. Unless another big holder wants to clear whole lot.

[JohnnyTheHorse]

As per last disclosure released to NZX on 11th May, they hold 83,539,789 under Kiltearn Partners LLP and 44,663,206 under The Kiltearn Global Equity Fund. So combined they hold close to 128mln shares. I think they have bit more distance to go and thus continued overhang for a while yet. Unless another big holder wants to clear whole lot.

My understanding is that the 44m is included under the 83m. So 83m is the correct total amount as of 10th May. Should be all cleared within another week or two (assuming it's them).

[sb9]

My understanding is that the 44m is included under the 83m. So 83m is the correct total amount as of 10th May. Should be all cleared within another week or two (assuming it's them).

The filing notice said "Disclosure of 1% or more in substantial holding" not "Ceasing to have substantial holding" as 83mln is under 5% threshold level of disclosure.

[Ogg]

As per last disclosure released to NZX on 11th May, they hold 83,539,789 under Kiltearn Partners LLP and 44,663,206 under The Kiltearn Global Equity Fund. So combined they hold close to 128mln shares. I think they have bit more distance to go and thus continued overhang for a while yet. Unless another big holder wants to clear whole lot.

Yeah this confused me as well.

I doubled check.

They had 122,095,343 "combined" as @ 31 July 2020 according to the annual report on page 101.

https://www.sky.co.nz/documents/117005/348248/2020+Annual+Report.pdf

They likely have 40m shares left to sell (if they are the ones selling).

It's explained here.

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/SKT/357794/328160.pdf


we act as an investment manager for a number of
commingled funds and separate accounts (our "Clients"). In acting for our Clients, we are
given full discretion over their investments, and are empowered to vote on their behalf.
However, Kiltearn does not act as their Custodian, and therefore shares are not held in our
name, but in the nominee name of their Custodian Bank.


It's some sort of weird joint arrangement with clients held in a different name.

I'm still some what confused.

[Alpha]

Ogg you got your fishing gear ready.

Bring on the the weighing on the 29th. I've caught a few decent ones recently.

[Ogg]

In other words, there are 44,663,206 shares held in their clients name, and 38,876,583 shares held in their own name but they control all the shares.

Total is 83,539,789, which is now less than 5%, which means they should have posted another notice that they are no longer substantial holder.

But I'm confused as well!

https://i.imgur.com/GQLhgU2.gif

[Ogg]

Ogg you got your fishing gear ready.

Bring on the the weighing on the 29th. I've caught a few decent ones recently.

I already topped up at 17.1 today when the huge sell orders piled on.

I'm concerned that Mr Singapore only bought 3m today.

[clown]

I already topped up at 17.1 today when the huge sell orders piled on.

I'm concerned that Mr Singapore only bought 3m today.

There were 2 blocks of 2mil today

[Ogg]

There were 2 blocks of 2mil today

True.

Also, I just checked the market depth, all the sell orders at 17.1 have now been pulled so all those "sellers" are the same person.

Big manipulation going on here for sure!

[Ogg]

There were 2 blocks of 2mil today

I just realised something.

I bought 200k today, and Mr Singapore bought 4m

That's 86% of the trading volume.

https://i.imgur.com/lrxwFQW.gif

I know Mr Tea said he bought some as well.

Seriously guys! It's all on here for June 29. Stay tuned.

[Ogg]

June 29th

https://i.imgur.com/8f3Vq75.gif

[Hawkeye]

June 29th

https://i.imgur.com/8f3Vq75.gif

You know someone has way to much time on their hands when....

[biker]

June 29th

https://i.imgur.com/8f3Vq75.gif

If we are getting this 27 days out, it’s going to be an entertaining few weeks ahead. Actually already the most entertaining thread on the forum. Go Ogg! Go SKT!

[clown]

June 29th

https://i.imgur.com/8f3Vq75.gif

When's the second trailer coming out? Damn this was goooood!!!

[Not The Chosen One]

June 29th

https://i.imgur.com/8f3Vq75.gif



When's the second trailer coming out? Damn this was goooood!!!


You have to subscribe to Sky as they have rights to the full movie

[DownTownJr]

OGG take my money that was gold, that trailer has got to be worth 10cents a share. Will subscribe to Sky for part 2.

[Getty]

June 29th

https://i.imgur.com/8f3Vq75.gif

Brilliant OGG.

Only problem is that with such good entertainment going free to air, who needs to subscribe to SKY anymore?

Cecil B deMille eat ya heart out!

[Ogg]

https://i.imgur.com/dzmP4F7.jpg
https://i.imgur.com/CmJGYEq.gif

[mistaTea]

Sky just announced a deal with Discovery to broadcast the first State of Origin match on TV3.

Ogg will be pleased that the two companies are working so well together…

[Getty]

That only works out to be 17.2c pay per view OGG.

You may need Dereck H to review your business plan...

[Ogg]

https://i.imgur.com/faQHyLr.jpg

https://i.imgur.com/5QUUeSn.gif

[mistaTea]

https://i.imgur.com/faQHyLr.jpg

https://i.imgur.com/5QUUeSn.gif

Jesus H Christ! So early!

[LaserEyeKiwi]

Sky just announced a deal with Discovery to broadcast the first State of Origin match on TV3.

Ogg will be pleased that the two companies are working so well together…

that is a pretty interesting development. Also interesting that they will be using a mix of newshub/sky presenters for the pre & post game commentary.

oh god now I’m starting to entertain the idea of a merger…

[sb9]

Mr Singapore bit early today and got bit of bargain for their 4Ml lot at 17c a piece.

[Ogg]

He's really angry today!

https://i.imgur.com/6uqKWmr.gif

[mistaTea]

Wow! 9M traded so far.

You weren’t kidding that you were going to buy up large today Ogg!

[airedale]

I just realised something.

I bought 200k today, and Mr Singapore bought 4m

That's 86% of the trading volume.

https://i.imgur.com/lrxwFQW.gif

I know Mr Tea said he bought some as well.

Seriously guys! It's all on here for June 29. Stay tuned.

This thread reminds me of NZO posts before the Ironbark drill. It seems like the "thrill of the drill" fever has got some of us in its grip.
Discl: still holding

[mistaTea]

This thread reminds me of NZO posts before the Ironbark drill. It seems like the "thrill of the drill" fever has got some of us in its grip.
Discl: still holding

Except with Ironbark the drill was actually definitely happening!

This is just more speculation about a takeover or merger! We have been here before!

Ha!

[mistaTea]

https://hotcopper.com.au/threads/ann-sky-investor-day.6070970/page-5?post_id=53597530

Did anyone else see this investor comms?

[Habits]

https://hotcopper.com.au/threads/ann-sky-investor-day.6070970/page-5?post_id=53597530

Did anyone else see this investor comms?

I am getting excited just thinking about whats coming next... is this the equivalent of investor strip tease

[mistaTea]

I am getting excited just thinking about whats coming next... is this the equivalent of investor strip tease

I know someone who definitely loves to Oggle the share price…

[mistaTea]

What the hell is this!

https://i.imgur.com/lrxwFQW.gif

It looks fake and badly written. It's got spelling mistakes too. If this is legit, just lol.

"significant decisions"

Come on, could this be any more obvious that it's something material.

We've got a whale buying up huge amounts of stock right now and then they go and write this sh*t!

This can't be real. Surely it's just someone trolling.

https://i.imgur.com/iMBfbPZ.gif

I think it is bs. I can’t see any notice like that anywhere and the NZX announcement said it is a virtual event.

[jimdog31]

I know someone who definitely loves to Oggle the share priceÂ…

“klogg” seems to rhyme with some other name i cant quite remember

[Monarch]

Could be related to the investor day movement? From earnings call dated 22nd Feb
Arie Dekker, Jarden Limited, Research Division - Head of Research [11] ASKS:
And could you talk to where those -- so you do have some negotiations ongoing. Do you think, in terms of your position on those negotiations, that savings are achievable in calendar year '21?

Sophie Moloney, SKY Network Television Limited - CEO, Chief Commercial Officer & Company Secretary [12] REPLIES:
Yes. I think -- I mean we're in really conversations, particularly with New Zealand Rugby on behalf of SANZAAR about the impact on the agreement that we signed up to in 2019. We're partners, and we're keen to get clarity on those impacts ideally before 30 June.

As an aside, this exchange is also quite interesting. Sounds as though a "significant" cost saving is incoming.
Wade Gardiner, Craigs Investment Partners Limited, Research Division - Senior Research Analyst [34] ASKS:
And finally, have you given -- have you disclosed the sort of the size of the Optus savings that you'll get in second half of '22?

Sophie Moloney, SKY Network Television Limited - CEO, Chief Commercial Officer & Company Secretary [35] REPLIES:
Great question. I'm not sure. We'll have to go back and see because some of these were baked in when the deal was first entered in 2018 or '17. And then we obviously achieved further savings when we confirmed the deal last year. So that's one we'd like to be able to come back to you on. I don't have that on hand.

Andrew Hirst, SKY Network Television Limited - Interim CFO [36] REPLIES:
They are significant.

Sophie Moloney, SKY Network Television Limited - CEO, Chief Commercial Officer & Company Secretary [37] REPLIES:
Yes. They are significant. Yes.

Andrew Hirst, SKY Network Television Limited - Interim CFO [38] REPLIES:
It's a December 2021 picture. So not going to have this financial year. It's an outturn. We might provide more detail when we give guidance for the full year, but it is significant

[sb9]

https://hotcopper.com.au/threads/ann-sky-investor-day.6070970/page-5?post_id=53597530

Did anyone else see this investor comms?

I think that's totally made up content. No way they would communicate in that detail without disclosing it market, that would be total breach on part of management.

[biker]

https://hotcopper.com.au/threads/ann-sky-investor-day.6070970/page-5?post_id=53597530

Did anyone else see this investor comms?


This paragraph has been made up and added on hotcopper.

“ The stage we have reached on these initiatives has led us to move the date of our Investor Day. These are significant decisions for Sky and ones that will shape the future of our business. While we are close to making recommendations to our board, we are determined to achieve the best outcome for customers and for Sky while also ensuring a more compehensive story can be shared with our investors"



Seems like a feeble attempt to mislead.


FROM THE NZX ANNOUNCEMENT. NOTHING ADDED.
Sky will be holding a virtual investor day event on Tuesday 29th June commencing at 9:00am and scheduled to conclude at approximately 12:00pm. The event will be webcast and will include presentations and opportunities for Q&A, with a replay available on Sky’s website.
Sky’s investor day will provide an opportunity to hear from Chief Executive Sophie Moloney and key members of the Sky team who will present on important aspects of Sky’s future strategic direction, including how we plan to stabilise and then grow our Sky Box customer base, grow our streaming customers, and continue to be a preferred partner for content creators and rightsholders.
Investors and analysts are warmly encouraged to register for the event.

[mistaTea]

I think that's totally made up content. No way they would communicate in that detail without disclosing it market, that would be total breach on part of management.


I agree, I think it is absolute horsesh1t.

I have emailed investor relations with a link to the comment to see what they have to say.

[Baa_Baa]

I agree, I think it is absolute horsesh1t.

I have emailed investor relations with a link to the comment to see what they have to say.

Klogg = Ogg? Posting that BS will get you kicked off HC for good. A desperate attempt to stimulate some Aussie action on SKT, pitiful, there's a GIF for that.

[Alpha]

Yip agree the poster Klogg has also just requested that their post me removed from HC. The weird part is they say they must have misunderstood something. But they have quoted this so called comms.

Ogg have you emailed SKy for a please explain. It will be interesting if you get a reply.

Re the property - I have had no reply from an email I sent on the 28.5 to the agents. I am a mortgage adviser and have asked for these documents for a "client" considering they are "selling" I almost immediately start getting harassed by the agents. Commercial however is a bit different to residential. None the less, it is a bit odd that I have not received anything. not a phone call or even reply.

So thoughts are the property has already sold. Or the property is not being sold and it is part of the package. Or the agents are just lazy and don't respond to brokers.

Another thought was re the sell down - It would be possible that Kiltearn is also selling smaller parcels on market? On top of these big of market orders?

Dam I just wish the 29th would hurry up and dam wish the drinks part was real.

[mistaTea]

Yip agree the poster Klogg has also just requested that their post me removed from HC. The weird part is they say they must have misunderstood something. But they have quoted this so called comms.

Ogg have you emailed SKy for a please explain. It will be interesting if you get a reply.

Re the property - I have had no reply from an email I sent on the 28.5 to the agents. I am a mortgage adviser and have asked for these documents for a "client" considering they are "selling" this usually I would almost immediately start getting harassed by the agents. It is a bit odd that I have not received anything or a reply.

So thoughts are the property has already sold. Or the property is not being sold and it is part of the package.

Another thought was re the sell down - It would be possible that Kiltearn is also selling smaller parcels on market? On top of these big of market orders?

Dam I just wish the 29th would hurry up and dam wish the drinks part was real.

Rang Todd Kuzmich but no answer so text him asking for a rough price guide for the property. He did eventually reply and just said it was "tricky" to answer that given the 'unique qualities' of the property and that he would have a better idea as he works through the campaign. Well, that was on Monday and I was sure the deadline for sale was 08 June. But the listing (https://www.colliers.co.nz/en-nz/properties/significant-industrial-offering/nzl-16-34-leonard-road-mount-wellington-auckland-city-auckland/nzl67014700) does not say that anymore.

Anyway I sent a follow up message to try and get him to just give a rough ballpark, not asking for a quote etc.

No response.

[mistaTea]

~1M traded off market already today.

[Alpha]

Cheers Mista that was going to be my next step. I really was just after any documents to have a look at.

[DownTownJr]

I would have expected some disclosure as to whom is buying/selling all of these shares by now. I'm a newbie investor but I keep checking for an announcement and still nothing. Anyways it's pay day today so another top up on SKT for me.

[Alpha]

interesting Klogg has just shared a screen shot.

[DownTownJr]

OGG and now Klogg, this is one interesting stock to follow.

[Alpha]

Highlighted and very hard to read is;

"The stage we have reached on these initiatives has led us to move the date of the investor day. These are significant decisions for Sky and ones that will shape the future of our business. While we are close to making recommendations to our board we are determined to achieve the best outcome for our customers and for Sky while also ensuring a more comprehensive story can be shared with our investors. "

[Slim]

No Rocket emoj on Sharsies yet
Coinspiracy failing to launch

[Baa_Baa]

Clearly it's not me! Just look at the posting history.

🤣 yeah right 😂

[Alpha]

This version has the spelling mistakes fixed.

Ask him if he retyped the original post, hence why it had spelling mistakes.


I've been looking for my email from Sophie.

[Alpha]

Someone just grabbed a whole $9 dollars worth at 16.9

[Alpha]

I know right...

Last email I have from Sophie is via Computershares and was titled Sky Network Television Limited - Interim Results and Report 2021



12568

[Alpha]

Another much smaller offmarket of 500,000 @.17

[Alpha]

Deleted previous post - looks like it was a Buy off market.

[mistaTea]

Good to see Ogg owning up and taking responsibility (https://hotcopper.com.au/threads/ann-sky-investor-day.6070970/#post-53612753).

I mean Klogg.

[Joshuatree]

No connection, ones a fixated comedian the other a very astute researcher of equities.

[Alpha]

Mista please do post if when you get a reply form investor relations. I would like clarity about that post on HC.

[mistaTea]

New theory:

Mista is Klogg

https://i.imgur.com/WLEqj2h.gif

http://www.reactiongifs.com/r/2013/06/you-got-me.gif

[biker]

Bought quite a few more today at .17

[winner69]

I see there was a sale of 871 shares at 17 cents a few moments ago

[biker]

I see there was a sale of 871 shares at 17 cents a few moments ago

Just had my order completed for 200,000

[biker]

"Great, thanks for your support, the draw is on the 29th, best of luck to you"
https://i.imgur.com/bbGd9Fx.jpg

Ha! Thanks! I’m holding far too many of these now but I do see SKT shares as better than raffle tickets.

[mistaTea]

Ahhh, how things change.

It was only about three and a half years ago that Vocus likened Sky TV to a North Korean dictatorship (https://www.stuff.co.nz/business/industries/99348528/internet-provider-says-sky-tv-is-attempting-to-censor-the-internet)...

Now we have a mutually beneficial broadband partnership and who knows what else the future might have in store for the new besties?

[Habits]

I still think it's weird that the last director/inside purchase was back on the 5th of March. (Excluding Handley's massive hand grab after he left as the rule doesn't apply to him).

"30 days prior to Sky’s year-end balance date, until the first trading day after the full year results are released to NZX"

https://www.sky.co.nz/documents/117005/718642/MK_CorporateGovernance_Sky_Securities_Trading_Poli cy.pdf/e77fd525-ed7e-3cb5-aa6b-3c310761a1ef?t=1602032411876

Balance date is June 30th so the window has now closed and no on market purchases allowed until the window opens again one day after the end of year results in August.

Maybe this is all meaningless but still, you would think one person would have top up even if it was just a token amount.

You and I probably would in their positions, however they are playing their cards close. Multiple buy ups or large scale ones would be a market signal like a flashing light and these directors do not want to do that. They have massive integrity

[Bob50]

United States entertainment giant Discovery paid $20 million in cash for TV3, Newshub and the rest of MediaWorks’ television business, accounts filed by MediaWorks with the Companies Office show.
The sale price illustrates the low valuations now attached to mainstream media assets as a result of the shift of advertising revenues to the internet.

[mistaTea]

Sky TV involved in takeover (https://www.sportbusiness.com/news/rugbypass-acquires-sports-analytics/) Ogg!!!!



RP buying Sport Analytics...

[LaserEyeKiwi]

https://i.imgur.com/1Gts6CF.gif

lol this is great work.

(also that show was bloody amazing)

[Alpha]

@ogg what do you do for a job? you are bloody great at these memes.

[RTM]

https://i.imgur.com/1Gts6CF.gif

Who needs SKY when we have Ogg.

[Alpha]

Part of the reason I have held is because of Ogg but also Mistatea. As well as a few others.

As well as my own DD.

[shazam]

@ogg what do you do for a job? you are bloody great at these memes.

Social media manager at a trendy city-fringe startup I reckon.

[mistaTea]

SP sub 17c already.

Stop dumping your shares Ogg.

[Alpha]

I ass ume we will hear more about the Rugbypass number at the investor day. Be interesting to know what the uptake was for Super Aotearoa.

Re broadband - I am see more and more adds on the social platforms. I have also seen that you can sign up now even without been a SKY sub costs 109PM for non Sky. But that is on par with others and Sky is faster so they say.

I wanted to get but at the time needed to be Sky needed to get dish relocated and required electrician to move and run wires. I did think it was odd that the tech did not do this and found it odd that if they could not do they didn't have a recommended person. Unfortunately I still have not done and have not been followed up by tech to install Sky.

Soooo..... I am only a Neon customer right this moment. I know slack shareholder. But slack SKY as well , I thought they would be hungry as for a new Sub. oh well I will eventually get it sorted.

[Alpha]

Ogg is Singapore he has always said he will take this company over if nothing happens.

[mistaTea]

I have also seen that you can sign up now even without been a SKY sub costs 109PM for non Sky. But that is on par with others and Sky is faster so they say.



https://broadband.sky.co.nz/

You can even get a 100Mbs fibre plan without being a Sky customer. $89/month as a standalone or $69/month if you have Sky starter.

I think the Investor Day will be great for updating the numbers on broadband, RP etc...

But also the plan moving forward for offering broadband bundles with streaming services. The existing deals are great for existing satellite subs...but I don't think brand new customers will be rushing at the door to get a Sky Box installed so that can save a few dollars on internet. It helps keep the existing subs 'sticky', but that is it.

A new STB could change all of that.

But the NEON/SSN bundles have the potential to be very popular I think.

****


Of course, all of this is moot if Sky goes into a trading halt before the Big Day!!

[mikelee]

Stock Takes: What KiwiSaver's $400m cash injection means for the NZXI hope this headline in today's Herald bodes well for local shares like Sky TV :t_up:

[clown]

Ogg is Singapore he has always said he will take this company over if nothing happens.

Lol I was thinking he was on holiday for the long weekend but this makes more sense

[mistaTea]

I am really looking forward to the Investor Day. I think there are going to be a lot of very exciting things to cover and it has been a really great experience personally watching this business transform.

Sky is completely different now than it was two or three years ago.

I don't care much about the SP as you all know, except for it potentially encouraging unwanted takeover advances. Fortunately that has not happened (as baffling as that seems to me!).

I am absolutely open to a takeover - I am an investor at the end of the day. But the price has to be right.

I wouldn't like to see Sky go for any less than $700M in it's current state, given where the business is in its transformation and how much cash it still generates its owners. $700M would be 4x EBITDA (or about 4.8x adjusted EBITDA - IFRS16).

Those are low EBITDA multiples, and I think Sky is worth a lot more than that long term. But in terms of 'where the business is right now' and the changing environment, we can't really expect higher multiples of 6 or 7.

If anything does happen in this space prior to the Investor Day, I think anything under $700M would be selling Sky owners short.

[Alpha]

I initially did as I was on a very crappy ISP. But the hassle of trying to get the Dish up was not ideal. It would have been fine if I wasn't a fussy customer.

[LaserEyeKiwi]

https://broadband.sky.co.nz/

You can even get a 100Mbs fibre plan without being a Sky customer. $89/month as a standalone or $69/month if you have Sky starter.

I think the Investor Day will be great for updating the numbers on broadband, RP etc...

But also the plan moving forward for offering broadband bundles with streaming services. The existing deals are great for existing satellite subs...but I don't think brand new customers will be rushing at the door to get a Sky Box installed so that can save a few dollars on internet. It helps keep the existing subs 'sticky', but that is it.

A new STB could change all of that.

But the NEON/SSN bundles have the potential to be very popular I think.

****


Of course, all of this is moot if Sky goes into a trading halt before the Big Day!!

The sooner they offer “skygo” as a standalone streaming service the better. Basically all the fat margin they get from skybox customers, without any of the associated upfront costs (dish/box install, box maintenance/replacements etc), and also wholesale it out to others.

Possibly need to simplify the lineup again to just 3 primary content choices: starter, sport & Neon (premium TV+Movies)
- make a $10 a month skybox rental fee mandatory (no more free boxes)
- charge $99 for satellite install, no charge if using skybox over internet connection.
- recombine “entertainment” package back into “starter”, keep same pricing as “starter” currently is ($26 - or maybe increase to $29.99)
- potential to break out “news” into a $5-$10 a month bundle.
- combine movies/soho, but decrease new combined package to be essentially the same pricing as Neon ($16 - it’s almost identical content anyway, perhaps increase Neon to $19.99 anyway)
- INCREASE sky sport pricing to align with skysportnow pricing ($40 a month or $33.33 month if annual pass), but allow people to have it without any other Sky packages (so skybox & sport only would be $50 or $43.33 a month)
- do not offer skygo for free to skybox customers (that is a debatable call, but I know a lot of people who give another household essentially a free sky subscription by letting them use the skygo streaming app, at the very least charge a “multi room fee”). This could be solved another way if the new skybox can reject skygo being used while someone is watching skybox, so subscribers could still have skygo streaming for free, but only when no one is watching the skybox).

so monthly fees would be
~$40 for skybox+starter,
~$50 for skybox+sport.
~$60 for skybox+starter+NEON
~$70 for Skybox+sport+NEON
~$80 for skybox+starter+sport.
~$100 for skybox+starter+sport+NEON
potentially give some bundle discounts if it’s really warranted for the top end bundle.

add Sky broadband to any of the above packages for +$69

$10 discount on above prices if not using skybox (using skygo online or viewing channels on Vodafone tv etc)

(personally I would go for a Sport+NEON+News+Broadband bundle for $140 a month no questions asked)

I think something like the above will happen if people are still disconnecting in droves, but who knows maybe the secret unsaid plan they will never admit to is simply to keep charging as much as they can to skybox customers and keep letting it dwindle to terminal levels while they build the streaming user base.

[mistaTea]

The sooner they offer “skygo” as a standalone streaming service the better. Basically all the fat margin they get from skybox customers, without any of the associated upfront costs (dish/box install, box maintenance/replacements etc), and also wholesale it out to others.

Possibly need to simplify the lineup again -
- make a $10 a month skybox rental fee mandatory (no more free boxes)
- charge $99 for satellite install, no charge if using skybox over internet connection.
- recombine “entertainment” package back into “starter”, keep same pricing as “starter” currently is ($26 - or maybe increase to $29.99)
- combine movies/soho, but decrease new combined package to be essentially the same pricing as Neon ($16 - it’s almost identical content anyway, perhaps increase Neon to $19.99 anyway)
- INCREASE sky sport pricing to align with skysportnow pricing ($40 a month or $33.33 month if annual pass), but allow people to have it without any other Sky packages (so skybox & sport only would be $50 or $43.33 a month)
- do not offer skygo for free to skybox customers (that is a debatable call, but I know a lot of people who give another household essentially a free sky subscription by letting them use the skygo streaming app, at the very least charge a “multi room fee”). This could be solved another way if the new skybox can reject skygo being used while someone is watching skybox, so subscribers could still have skygo streaming for free, but only when no one is watching the skybox).

I think something like the above will happen if people are still disconnecting in droves, but who knows maybe the secret unsaid plan they will never admit to is simply to keep charging as much as they can to skybox customers and keep letting it dwindle to terminal levels while they build the streaming user base.

I did have a chat with Martin before he left, and one of the things I asked him was why we have not released Sky GO as a standalone yet.

He pointed out that Sky do not currently have the right to do this. In all of the many MANY contracts we have...Sky GO is written into those contracts as a companion app to a Sky BOX. In order to have Sky GO as a standalone streaming service, all of those contracts need to be rewritten and potentially renegotiated.

This is not an insurmountable problem, and it is just a matter of time I think before it happens...but it is not as easy as just flicking a switch so that Sky GO is offered standalone.

I agree that, as a streaming service, there are more opportunities to simplify bundles and make them more attractive from a cost perspective. We need to remember though that the MySky fee generates a lot of cash for Sky - over and above the upfront costs of setting customers up, sending new boxes when the old one breaks (which hardly ever happens - the current boxes last forever).
So yes there is room for improvement in pricing, but if everyone handed back their STB and just took Sky GO there would be a revenue hole.

I still think it is absolutely the right way to go long term, and new management are not afraid to cannibalise old business units...but it is a consideration for 'how' you make the change.

I do not agree though with the notion of charging STB customers for Sky GO. STB customers will continue to generate the highest $$$ per customer by far for a long time to come, and if anything we need to be finding new ways to add more value.

The whole password sharing thing is an issue, sure - but you find that if you add a lot of value for a reasonable price you will have no issues growing your paying customer base. Sky GO only allows you a single stream. I would not share my password with anyone because if someone is watching something on the STB and I want to watch something else...I might not be able to use Sky GO (that I am paying for) because my mate is streaming something on it. I would have to ring the person up to tell them to get off... just a hassle.

I think the sharing issue is more of a problem for NETFLIX. a Premium account is about $20/month? But you can have 4 simultaneous streams! A household could easy share their log in with 1 or 2 other households with no issue.

[LaserEyeKiwi]

I did have a chat with Martin before he left, and one of the things I asked him was why we have not released Sky GO as a standalone yet.

He pointed out that Sky do not currently have the right to do this. In all of the many MANY contracts we have...Sky GO is written into those contracts as a companion app to a Sky BOX. In order to have Sky GO as a standalone streaming service, all of those contracts need to be rewritten and potentially renegotiated.

This is not an insurmountable problem, and it is just a matter of time I think before it happens...but it is not as easy as just flicking a switch so that Sky GO is offered standalone.

I agree that, as a streaming service, there are more opportunities to simplify bundles and make them more attractive from a cost perspective. We need to remember though that the MySky fee generates a lot of cash for Sky - over and above the upfront costs of setting customers up, sending new boxes when the old one breaks (which hardly ever happens - the current boxes last forever).
So yes there is room for improvement in pricing, but if everyone handed back their STB and just took Sky GO there would be a revenue hole.

I still think it is absolutely the right way to go long term, and new management are not afraid to cannibalise old business units...but it is a consideration for 'how' you make the change.

I do not agree though with the notion of charging STB customers for Sky GO. STB customers will continue to generate the highest $$$ per customer by far for a long time to come, and if anything we need to be finding new ways to add more value.

The whole password sharing thing is an issue, sure - but you find that if you add a lot of value for a reasonable price you will have no issues growing your paying customer base. Sky GO only allows you a single stream. I would not share my password with anyone because if someone is watching something on the STB and I want to watch something else...I might not be able to use Sky GO (that I am paying for) because my mate is streaming something on it. I would have to ring the person up to tell them to get off... just a hassle.

I think the sharing issue is more of a problem for NETFLIX. a Premium account is about $20/month? But you can have 4 simultaneous streams! A household could easy share their log in with 1 or 2 other households with no issue.

I think they have said publicly they are working on standalone skygo (or am I wrong on that possibly?) - agree on the rights negotiations trickiness to get that done. But it’s common place in the US now to be able to get cable bundles via an online service (HULU offers this), so hopefully most content providers are happy to add this as they realize it’s in their best interest.

agree restricting concurrent skygo access would be a big move and would be seen as a negative by most, but if done at the same time as a big drop in entry pricing I think many would understand and take the tradeoff of lower pricing or paying extra for ability to unlock concurrent use.

[Watchful]

Reckon he’ll be back if the price rises too much before close tonight. Gotta keep that 5-day average anchored.

Or maybe I’m just trying to wind you up even further.

[mistaTea]

On a completely unrelated note... I was browsing Sky GO earlier and came across a program called 'Cheat'.

It is only 4 episodes but man it is really good!

It is on NEON too so if anyone is looking for something to binge this weekend, that's my recommendation!

I love British TV.

[LEMON]

Warner bros.
Discovery
(In the SKY)
Well spotted, lol

[airedale]

https://i.imgur.com/Pb14GGS.gif

Warner and Discovery's new logo


Pie in the sky?

[mistaTea]

Pie in the sky?

Absolutely pie in the sky.

Discovery have shown that they have no interest in buying Sky TV. They are happy to own TV3 and have a co-exclusive deal with Sky.

Otherwise they would have made a serious offer for Sky by now. They would have pounced when the market cap was below $200M - God knows they have the money to do it.

If someone else makes a play for Sky, I would be very surprised if Discovery complicated things by putting in a counter bid.

I would be pleasantly surprised! But surprised nonetheless.

[winner69]

Cricket from Lords pretty boring last night ....maybe SKY not worried about being able to show it

[mistaTea]

Blair "Dem Gains" Woodbury joining Devoli as CFO.

[mistaTea]

Looks like that "special assignment" is finished.

https://i.imgur.com/iMBfbPZ.gif

MATERIAL EVENT:

https://i.imgur.com/eMUC7eT.jpg

https://imgur.com/gallery/TKoly6f

[Slim]

I like the quote on his twitter
'Watching media and telco collide and trying to figure out what it all means'

[Slim]

Assuming there would have to be an announcement from this?

[mistaTea]

MATERIAL EVENT:



Didn't even require a market announcement.That's how bs the ex-CFO's latest 'role' was (https://media1.tenor.com/images/88a616c90140cf9840a6060ceee6106d/tenor.gif?itemid=15186318). I mean who works part-time at that level anyway?!

[mistaTea]

Has Blair updated his LinkedIn profile?

https://nz.linkedin.com/in/blairwoodbury

His references to Sky have all been deleted.

He probably lurks this thread.

https://i.imgur.com/iMBfbPZ.gif

What do you mean?

I can see his tenure at Sky in the two different roles on his profile...June 2019 - June 2021...

[Habits]

Deadline sale is over.

https://www.colliers.co.nz/en-nz/properties/significant-industrial-offering/nzl-16-34-leonard-road-mount-wellington-auckland-city-auckland/nzl67014700

Hopefully they've been sold for many millions and they'll give the cash back to shareholders through a special dividend!

Get ready for big let down on both counts... sell price and spc div

[silu]

This is good https://www.nzherald.co.nz/business/sky-tv-hooks-up-with-disney-to-lure-broadband-customers/V3UDF4H6OPYZIR3XOUCZMY6DMM/
Sky TV hooks up with Disney to lure broadband customers

I don't have children but to my friends that do Disney is basically a free babysitter.

[LaserEyeKiwi]

Disney back already...

https://i.imgur.com/iMBfbPZ.gif

nope. Its exactly as I said - the only way sky is getting anywhere near Disney content is by reselling the Disney+ service, sky is losing money on this offer as a loss leader to encourage broadband uptake.

[LaserEyeKiwi]

Discovery and Comcast be like...

https://i.imgur.com/RWxhPAF.jpg

https://i.imgur.com/iMBfbPZ.gif

I guess a takeover from either one of them is off the table now with this new Disney deal.

Vocus merger still in play tho.

Dont see why, this is purely a marketing promotion - this deal doesn’t put any Disney content back on sky’s tv platforms. Its simply an arrangement for Sky to give new broadband customers a free year of access to the Disney+ app. There is no Disney content coming to skybox or neon customers.

[LaserEyeKiwi]

Just lol

https://i.imgur.com/iMBfbPZ.gif

This is a loss leader for Disney not Sky!

Disney+ growth has slowed so now they're back with these lame partnership deals.

Disney channel will be back on Sky shortly. Disney+ will eventually just be for new releases and popular content.

not in a million years, disney is all in on disney+, and spent billions of dollars buying out existing distribution contracts with cable companies to remove their content early from the pay tv platforms, there is zero chance they will do a 180 on that effort.

Sky is paying disney in this deal, not the other way around (disney has these deals all over the world, just like Netflix does as well - see sparks broadband Netflix deal). It’s impossible for this to be a loss leader for Disney, every new subscriber is 100% margin accretive for them. Whereas sky has to pay disney for every new broadband customer that takes up this offer.

[mistaTea]

not in a million years, disney is all in on disney+, and spent billions of dollars buying out existing distribution contracts with cable companies to remove their content early from the pay tv platforms, there is zero chance they will do a 180 on that effort.

Sky is paying disney in this deal, not the other way around (disney has these deals all over the world, just like Netflix does as well - see sparks broadband Netflix deal). It’s impossible for this to be a loss leader for Disney, every new subscriber is 100% margin accretive for them. Whereas sky has to pay disney for every new broadband customer that takes up this offer.

Yes, sky are probably paying Disney ~9/month for subscriber. So they are in effect giving up their broadband margin for 12 months to attract new customers.

Disney+ is here to stay - maybe Sky can do a co-exclusive deal in the future to get some content back on the sky box. Maybe not.

Either way, this is good news I think. Keeps the relationship with Disney alive and Sky do need to be bold/aggressive to get the broadband numbers up. I would also like to see some kind of a partnership with NETFLIX soon.

If we look after our customers with great content, service and attractive pricing then we should have no issues hanging on to them in 12 months time.

[LaserEyeKiwi]

Why would Sky pay $9 to Disney when they could give away Neon for free instead?

https://i.imgur.com/iMBfbPZ.gif

This deal is weird the more I think about it.

The only way this deal makes sense is that Sky mergers with Vocus, and then the deal is offered to all of their customers.

Seems as if Sky is becoming more of a a "broadband company" with Pay TV is an add on extra.

sky are already giving a $30 broadband discount to skybox subscribers - who I’m guessing wouldn’t see much value in Neon? (If they have soho/movies content via skybox already that is. In fact giving them neon would cause those skybox customers to possibly cancel movies/soho subscriptions seeing as they are getting it for free through neon anyway).

[mistaTea]

sky are already giving a $30 broadband discount to skybox subscribers - who I’m guessing wouldn’t see much value in Neon? (If they have soho/movies content via skybox already that is. In fact giving them neon would cause those skybox customers to possibly cancel movies/soho subscriptions seeing as they are getting it for free through neon anyway).

Agreed - NEON is of limited value to the average sky box sub (who can stream all of their sky content on Sky GO now if they prefer streaming. Very good service now that you can Chromecast. Only 1.5 star rating on the App Store though! Some very negative comments but I have had zero issues with it and find the UX pretty good).

Sky need to keep adding more and more value to their customers as part of their proposition as an aggregator. I think the Disney sub will be much more attractive to a wide range of people than having NEON as an add-on to the Sky Box.

If they can get a deal with NETFLIX then they could give new subs the choice of 12 months of Disney+ or NETFLIX.

[Alpha]

6
95
1:10:58 pm
17
2,204,553
$374,774
Off market


7
94
1:10:28 pm
17
1,368,647
$232,669
Off market




Ogg you must be close now

[LEMON]

Sky Tv logo is different on the sharesies website, I looked it up the now black triangle sky logo and all I can find is under consideration in 2014, im not a kiwi so I don't know if this has always been a common logo here in NZ or they have recently changed to a old design idea?

[Alpha]

IS anyone actually buying and selling? Massive offmarket orders and then tiny on market trades which I always thought was Bots or the Sharesies crowd. But seriously if sharesies who buys $1 worth of shares?

[LEMON]

It seems this is already a logo, I was just curious as I thought if they are redesigning their logo what does this mean for a TO etc. NVM guys I should look more closely before commenting again

[uravgtrader]

How does one do off market trades?

[mistaTea]

I like how Chris still 'makes it up' whenever he has a gap in his knowedge.

From the article:

Former Sky TV chief executive Martin Stewart favoured a major telecommunications play, with his company dealing directly with Chorus. He also said (https://www.nzherald.co.nz/business/sky-tv-boss-mobile-phone-service-only-a-matter-of-time-shares-undervalued/2YMXM62A3GSZVBH6P73SAXPH7A/) a Sky mobile phone service was "only a matter of time".
Under new CEO Sophie Moloney, the mobile ambition has been quietly shelved, and Vocus (owner of Orcon, Slingshot and Flip) has been brought in as a middle man - lowering costs and risk, if also eating into margin.
Well, actually Martin was the one who set up the whole Vocus deal - not Sophie. No doubt she was heavily involved in the negotiations but the deal was very much done under Martin's direction.

Also not sure about mobile being "quietly shelved". I think Martin is right that it is only a matter of time...he never put any dates on it, and Sophie will want to focus on embedding the broadband service before another major product launch.

If no merger/takeover is on the cards then it will be interesting to see what Sky do in the mobile space. Partner with Vocus for a virtual network or go with 2Degrees for their superior mobile offering?

[LaserEyeKiwi]

I like how Chris still 'makes it up' whenever he has a gap in his knowedge.

From the article:

Former Sky TV chief executive Martin Stewart favoured a major telecommunications play, with his company dealing directly with Chorus. He also said (https://www.nzherald.co.nz/business/sky-tv-boss-mobile-phone-service-only-a-matter-of-time-shares-undervalued/2YMXM62A3GSZVBH6P73SAXPH7A/) a Sky mobile phone service was "only a matter of time".
Under new CEO Sophie Moloney, the mobile ambition has been quietly shelved, and Vocus (owner of Orcon, Slingshot and Flip) has been brought in as a middle man - lowering costs and risk, if also eating into margin.
Well, actually Martin was the one who set up the whole Vocus deal - not Sophie. No doubt she was heavily involved in the negotiations but the deal was very much done under Martin's direction.

Also not sure about mobile being "quietly shelved". I think Martin is right that it is only a matter of time...he never put any dates on it, and Sophie will want to focus on embedding the broadband service before another major product launch.

If no merger/takeover is on the cards then it will be interesting to see what Sky do in the mobile space. Partner with Vocus for a virtual network or go with 2Degrees for their superior mobile offering?

Vocus Mobile is simply using the Spark network - so better to cut out the middleman and deal directly with Spark or Vodafone for a mobile offering?

[LaserEyeKiwi]

Why even offer a Disney+ deal then? The broadband deal is decent enough for current Sky box customers. They don't have to give away Disney+

Seriously, the only way this deal makes sense is that Sky mergers with Vocus and then this deal is extended to all customers.

If not, I'm

https://i.imgur.com/ktL7VzO.gif

it makes it more attractive to non-skybox customers maybe?

I use the spark broadband plan that includes free Netflix (and discounted NEON). I would consider the sky broadband offering with free Disney+, but:
a) I'm not sure if the free one year of disney+ offer is available to existing Disney+ subscribers (which I am) ad says: "Available to new and returning Disney+ users"
b) the 2nd downside - and this is a weird one - Sky broadband doesn't give me the same NEON discount that I get from spark. :confused:

[mistaTea]

it makes it more attractive to non-skybox customers maybe?

I use the spark broadband plan that includes free Netflix (and discounted NEON). I would consider the sky broadband offering with free Disney+, but:
a) I'm not sure if the free one year of disney+ offer is available to existing Disney+ subscribers (which I am) ad says: "Available to new and returning Disney+ users"
b) the 2nd downside - and this is a weird one - Sky broadband doesn't give me the same NEON discount that I get from spark. :confused:


1) Yes I think you would have to cancel your Disney + and then when you were out of subscription rejoin as a 'returning' cusotmer. A bit of a faff perhaps.

2) I think if you go down the Sky Box route you would ditch NEON. The Spark bundle with NETFLIX and NEON is compelling though if those streaming options cover all of your bases. Not sure many of those customers would switch to Sky Broadband.

[mistaTea]

b) the 2nd downside - and this is a weird one - Sky broadband doesn't give me the same NEON discount that I get from spark. :confused:

I think Sky Broadband will be more competitive against Spark once they offer bundles with their streaming services.

UFB with NEON thrown in for 'free' + options to add discounted NETFLIX + Disney+. Don't forget possibilities with SSN.

[LaserEyeKiwi]

https://i.imgur.com/vcMPabS.jpg

No one wants this piece of sh*t

https://i.imgur.com/iMBfbPZ.gif

oh dear. although is this similar to residential sales where listings stay up until conditional offers go unconditional?

[mistaTea]

https://i.imgur.com/vcMPabS.jpg

No one wants this piece of sh*t

https://i.imgur.com/iMBfbPZ.gif

Just got a response from a Colliers rep regarding the property sale...

"Thanks for the message. It’s standard for commercial properties to sell after the deadline as the initial round of bids will be firmed up, conditions resolved, etc. Often takes a couple of weeks post-deadline.

Recommend you follow Greg Goldfinch on Linkedin as he normally posts sale notifications when larger properties sell."

[jimdog31]

Just got a response from a Colliers rep regarding the property sale...

"Thanks for the message. It’s standard for commercial properties to sell after the deadline as the initial round of bids will be firmed up, conditions resolved, etc. Often takes a couple of weeks post-deadline.

Recommend you follow Greg Goldfinch on Linkedin as he normally posts sale notifications when larger properties sell."

surely a market update would come first?

[Alpha]

Sky still seeking new employers Yesterday advertising Legal Counsel.

About the role…
Become part of a supportive, friendly and highly valued legal team. We work closely with our business partners to manage legal and commercial risk, help achieve the best outcomes for our business and provide services that truly delight our customers. We’d love you to join our Sky crew, in a role that will challenge you, offer exciting career opportunities and invites you to bring your authentic self to work every day.
A Bit About Us…
We’re Sky, a media and entertainment company that has been connecting New Zealanders to the stories and sport they love for over 30 years. We’re proud of what we’ve achieved and are excited about where we’re heading. We’re redefining our boundaries and challenging ourselves to do better. We’re moving fast, listening to our customers, creating solutions and taking calculated risks.



Responsible and accountable to the Head of Legal.
Providing legal support and guidance to ensure Sky’s compliance with applicable consumer laws, including fair trading compliance and privacy.
Providing legal support and guidance for the Technology business unit, including review, negotiation and drafting of key commercial agreements to deliver Sky’s Technology operations, broadcast, and procurement objectives.
Keeping abreast of developments to key consumer legislation and regulations that impact the business and assist in advising senior management accordingly.
Demonstrating and embodying the mind-set, beliefs, and values of a Sky crew member.

What you’ll bring…


You will love learning about our business, our services and most importantly our customers.
A friendly and approachable team member who enjoys building strong relationships of trust and confidence across the business.
Ability and desire to take ownership of matters.
Articulate and confident communicator.
Growth mindset and enthusiasm to collaborate and learn.
Confidence in working through change and uncertainty.
Attention to detail, sound drafting skills and excellent problem-solving capabilities

[LaserEyeKiwi]

Just got a response from a Colliers rep regarding the property sale...

"Thanks for the message. It’s standard for commercial properties to sell after the deadline as the initial round of bids will be firmed up, conditions resolved, etc. Often takes a couple of weeks post-deadline.

Recommend you follow Greg Goldfinch on Linkedin as he normally posts sale notifications when larger properties sell."

sounds promising!

[airedale]

Hi Alpha, Situations Vacant, where was the job advertised?

[Alpha]

Hi Alpha, Situations Vacant, where was the job advertised?

https://www.seek.co.nz/job/52506455?type=standout#searchRequestToken=047486a8-8cd1-4650-8df9-53619b963d42

[sb9]

Seems as though Mr Singapore is out of action so far today, c'mon Ogg get them on your hot line :p

[Alpha]

Was yesterday not the final amount..

[Orange Juice]

There has been 52.9m shares traded off market since 17th of May.

Can someone please clarify how this could possibly be one substantial holder selling down their position? Doesn't The FMA require SPHs to disclose movements of 1% or more in their substantial holding?

[Slim]

16.8

https://i.imgur.com/Gb5CeLy.gif

:t_up: Great, bout to buy a large package

[airedale]

A positive slant on a company coming back from the abyss. Who is that guy with Sophie?

[mistaTea]

A positive slant on a company coming back from the abyss. Who is that guy with Sophie?

Philip Bowman? Chairman.

[The diver]

I have found a fundamental flaw in the SKT analysis which could be the reason that it hasn’t been taken over yet….

https://imgur.com/NfEyrGw

[tommy_d]

I have found a fundamental flaw in the SKT analysis which could be the reason that it hasn’t been taken over yet….

https://imgur.com/NfEyrGw

derp (-ies, i guess__)

[thenerd]

16.5

What’s going on??

[Greekwatchdog]

Spark won the rights to screen the Rugby League World Cup.

[mistaTea]

https://www.stuff.co.nz/sport/league/125462629/spark-sport-secures-broadcasting-rights-for-rugby-league-world-cup

Good move for Spark, though with risk given the Covid situation. I will also watch with keen interest to see if subs get this tournament as part of the $20-$25/month fee (depending on whether you have another spark service) or if they will sting consumers with a tournament fee.

Sky have broadcast the last four, and already have the NRL rights so they would have wanted to keep this. Spark will have paid handsomely for it like they did with the RWC.

It has been clear for a long time that Spark Sport want (need) to get the NRL. Especially since NZR is off the table until 2026 at the earliest.

So let's see how well Sky has done in cultivating that relationship. NRL has been an important part of the Sky Sport calendar, so Sky will be aggressive in keeping this contract I think (even if it means letting others go). Spark will have to pay way over the odds to get NRL I think.

Maybe they will, let's see.

Negotiations would be starting soon I would have thought. Not sure if Sky has first rights of negotiation like they did with NZR.

[clown]

Woweee!!!


6
216
2:31:20 pm
16.4
8,700,000
$1,426,800
Off market

[silu]

I give the share price until the end of June otherwise I'm out.

[mistaTea]

June 29th @ 10:01am

https://i.imgur.com/33t2D9d.gif


Maybe I should hold off buying more until you guys start dumping your shares...

[mistaTea]

https://i.imgur.com/FcWDGQ6.jpg

Mate, if Sky missing out on the League World Cup is going to rattle you like this you should dump your shares now.

[mistaTea]

https://i.imgur.com/R8YMkoM.jpg

My reaction (http://i.imgur.com/pTnFr8j.gif) every time I watch you stressing.

[silu]

I'm selling it all on the 29th! Takeover or not!

https://i.imgur.com/G4UJFFF.gif

Not even going to bother watching the investor presentation.

Just gonna put it all on for sale the night before and hope for the best.

https://i.imgur.com/iMBfbPZ.gif

Not waiting to hear what Sophie has to say? She alone can change my mind.

[silu]

What the hell is she gonna say!

https://i.imgur.com/iMBfbPZ.gif

I'll be busy calling Vocus and Discovery anyway.

I'm aware of a forum of investors and a couple of particular names come to mind; Ogg and MistaTea and my message to them is - Stay strong. We're turning this ship around and your patience will be rewarded.

Something like that perhaps?

[mistaTea]

I'm aware of a forum of investors and a couple of particular names come to mind; Ogg and MistaTea and my message to them is - Stay strong. We're turning this ship around and your patience will be rewarded.

Something like that perhaps?

Don’t worry about me mate.

My favourite holding time is - forever.

[Slim]

Great to see some liquidity after a slow week, massive numbers with some big trades - just ashame about the price

[Baa_Baa]

Great to see some liquidity after a slow week, massive numbers with some big trades - just ashame about the price

The overhead Sell volume depth in the 17's is a massive cap to this going anywhere soon, especially as there will always be some who keep dropping into the Bid. Imo nothing will move this SP positively unless financial metrics keep improving and client losses abate or turn around. So we won't know either of those until something is announced. All the chatter about takeovers etc is just bored shareholders lamenting the lack of price action in their favour. How many did they issue at 0.12?

[Eden]

Can’t get my head around today’s price action. Rugby League World Cup rights might be good for Spark short term (no doubt league fans will feel compelled to sign up). But is it bad news for Sky long term? NRL/State of Origin make ongoing Sky subscriptions compelling for League fans.

Disc: don’t care about League that much. Loving the Euros football coverage ATM.

[Eden]

Duplication

[THEONE]

https://www.stuff.co.nz/business/300335028/discoverys-plans-for-tv3-revealed

After Netflix, Amazon, Disney, TVNZ, SKY...How many people are going to be bothered paying for Discovery?

Surely it would make sense to just buy Sky and get some scale, would be profitable day 1.

Any guesses what will be announced at the investor day? They need to do something major..

Surely the Commerce commission wouldn't block any takeover by Vodafone any more....

[airedale]

I'm selling it all on the 29th! Takeover or

Not even going to bother watching the investor presentation.

Just gonna put it all on for sale the night before and hope for the best.

https://i.imgur.com/iMBfbPZ.gif
That will be the day.

[LaserEyeKiwi]

https://www.stuff.co.nz/business/300335028/discoverys-plans-for-tv3-revealed

After Netflix, Amazon, Disney, TVNZ, SKY...How many people are going to be bothered paying for Discovery?

Surely it would make sense to just buy Sky and get some scale, would be profitable day 1.

Any guesses what will be announced at the investor day? They need to do something major..

Surely the Commerce commission wouldn't block any takeover by Vodafone any more....

doesn't sound at all like they are considering a sky takeover - although you wouldn’t talk about that anyway I suppose.

[mistaTea]

doesn't sound at all like they are considering a sky takeover - although you wouldn’t talk about that anyway I suppose.

They would have done it by now if they were interested.

[mistaTea]

https://timer.getmara.com/ZGF0ZT0yMDIxLTA2LTI5JnRpbWU9MDklM0EwMCZ0aW1lem9uZT 1QYWNpZmljJTJGQXVja2xhbmQmYmNrQ29sb3I9RkZGRkZGJmZv bnRDb2xvcj0wMDAwMDAmbGFiZWxDb2xvcj00NDQ0NDQmZGF5TG FiZWw9ZGF5cyZob3VyTGFiZWw9aG91cnMmbWluTGFiZWw9bWlu JnNlY0xhYmVsPXNlYw==.gif

https://i.imgur.com/IUB28Az.jpg

Four days until Vocus vote on MIRA…

[LaserEyeKiwi]

https://www.stuff.co.nz/business/300335028/discoverys-plans-for-tv3-revealed

After Netflix, Amazon, Disney, TVNZ, SKY...How many people are going to be bothered paying for Discovery?



Would say the kind of people who are going to be subscribing to all of Netflix, Amazon, Apple, Disney, Discovery+, Neon are probably not also subscribing to sky. To put it in perspective, the average sky subscription costs more than all those streaming services combined.

[LaserEyeKiwi]

But there is still significant years left to milk the cable-keepers, was interesting to see this new monthly index put out today for USA viewing:

https://www.sharetrader.co.nz/blob:https://www.sharetrader.co.nz/3f603438-fa87-4626-9ce3-8bcbef60adachttps://www.sharetrader.co.nz/blob:https://www.sharetrader.co.nz/b19742d5-be9d-4728-a843-b08faea64756https://www.sharetrader.co.nz/blob:https://www.sharetrader.co.nz/f389f620-5145-4a4d-9a29-3633024063a712622

[Topagent]

I currently subscribe to sky , neon , Netflix, Disney and have Apple TV we have a family of 6 and we are all often watching different platforms at the same time.

[mistaTea]

I currently subscribe to sky , neon , Netflix, Disney and have Apple TV we have a family of 6 and we are all often watching different platforms at the same time.

Apple TV is a great platform for streaming. I am a big fan.

Will be interesting to hear what Sophie has to say about the new STB they are planning. Clearly, if they are going to stay in the STB market they need something new. MySky has a lot of functionality, but it is tied down to a linear model and has a crappy UI by modern standards.

I am in the same boat as you, I have MySky and AppleTV for streaming. Would be ideal if I had one modern STB that enabled me to aggregate all of my content across sky and other services in one place.

[silu]

The first words out of her mouth better be:

"I'm exciting to announce"

https://i.imgur.com/iMBfbPZ.gif




https://timer.getmara.com/ZGF0ZT0yMDIxLTA2LTI5JnRpbWU9MDklM0EwMCZ0aW1lem9uZT 1QYWNpZmljJTJGQXVja2xhbmQmYmNrQ29sb3I9RkZGRkZGJmZv bnRDb2xvcj0wMDAwMDAmbGFiZWxDb2xvcj00NDQ0NDQmZGF5TG FiZWw9ZGF5cyZob3VyTGFiZWw9aG91cnMmbWluTGFiZWw9bWlu JnNlY0xhYmVsPXNlYw==.gif

And my first words out of my mouth would be "Mind your grammar".

[Alpha]

[QUOTE=Ogg;890865]
The first words out of her mouth better be:

"I'm exciting to announce"

https://i.imgur.com/iMBfbPZ.gif




Haha at first glance I thought it said.

I'm exiting..... (which made me think Sophie is ogg)

[mistaTea]

Not long at all until our business partner's shareholders vote on the future of the business (https://www.timeanddate.com/countdown/generic?iso=20210622T12&p0=22&msg=Vocus+Vote&font=cursive)...

[Alpha]

Mr Singapore must be finished.

Will we likely have an update prior to investor day?

Or they saving everything for the day. I assume we will find out about the sale of the property, rugby pass number, broadband numbers etc etc.

oh and the takeover/merger

[bottomfeeder]

All well and good, Rugby, etc, but the correlation to the shareprice is a little less distinct. We need to concentrate on fundamentals.

[jimdog31]

Peter Kennan Investing Summit April 2021


https://www.youtube.com/watch?v=vD_IxgmuZFQ

https://i.imgur.com/L9KmFjF.jpg

https://i.imgur.com/Z2uXdqj.gif

https://i.imgur.com/iwsFJXd.jpg

https://i.imgur.com/MzgaLcQ.jpg

https://moiglobal.com/wp-content/uploads/asia21-peter-kennan.pdf

How good. Love the commentary around discussions hes had with CEO & Chairman regarding Capital management!!!

[jimdog31]

Peter Kennan Investing Summit April 2021


https://www.youtube.com/watch?v=vD_IxgmuZFQ

https://i.imgur.com/L9KmFjF.jpg

https://i.imgur.com/Z2uXdqj.gif

https://i.imgur.com/iwsFJXd.jpg

https://i.imgur.com/MzgaLcQ.jpg

https://moiglobal.com/wp-content/uploads/asia21-peter-kennan.pdf

I think there could be multiple Mr singapores!

[jimdog31]

I think there could be multiple Mr singapores!

"ive been trying to poke holes into this, but, its seems like a very compelling case when you have those kinds of free cashflow attributes, alot will depend on what they do with the free cashflow, but its sounds
like theres a good chance of shareholders seeing that cash back"

"Agreed, we will hold the chairman and the CEO's feet to the fire"

[jimdog31]

I think I might have to hold this piece of sh*t stock.

https://i.imgur.com/iMBfbPZ.gif

That 70c price target is pretty bullish.

He does make a good point about the potential for significant free cash flow over the next few years as the "satellite base will have a long tail".

He forecast up to $50m of back backs this year between June - December after the property sale. Then dividends in 2022.

He makes a good point about NZ being a small market so the major players are better off using a media aggregator like Sky than going direct. Obviously the big players are doing streaming but they can never generate enough cash to pay for sporting rights like rugby. There's a good chance that NZRU signs after 2025. Sky should maintain it's market position and churn should stabilise.

The new Sky box also looks good. Minimal deprecation of old boxes as a lot of customers will stick with the old box.

Overall, he says that NZ market is dividend focused and most retail investors lost faith in Sky, hence that's why the stock is so low. It's just question of weather this company can turn around and use it's clean balance sheet to return capital to shareholders and get back the reputation it once had. Either that or use the cash for growth acquisitions.

However, I'm still in the takeover camp, but I'm thinking the offer has to be north of 30c to justify.

Let's just see what the investor day brings in a little over a week from now.

I'm thinking about buying more if there's continue weakness over the next few days.

This stock must be worth at least $1 to Warner/Discovery, it's just God dam silly they're not interested in buying at these levels!

Fu*k it...

https://i.imgur.com/Ug3JM98.gif

"Agreed, we will hold the chairman and the CEO's feet to the fire"

Peter kennan - 4.9% shareholder - Founder and CEO black crane.

12634

[mistaTea]

I think I might have to hold this piece of sh*t stock.

https://i.imgur.com/iMBfbPZ.gif

That 70c price target is pretty bullish.

He does make a good point about the potential for significant free cash flow over the next few years as the "satellite base will have a long tail".

He forecast up to $50m of back backs this year between June - December after the property sale. Then dividends in 2022.

He makes a good point about NZ being a small market so the major players are better off using a media aggregator like Sky than going direct. Obviously the big players are doing streaming but they can never generate enough cash to pay for sporting rights like rugby. There's a good chance that NZRU signs after 2025. Sky should maintain it's market position and churn should stabilise.

The new Sky box also looks good. Minimal deprecation of old boxes as a lot of customers will stick with the old box.

Overall, he says that NZ market is dividend focused and most retail investors lost faith in Sky, hence that's why the stock is so low. It's just question of weather this company can turn around and use it's clean balance sheet to return capital to shareholders and get back the reputation it once had. Either that or use the cash for growth acquisitions.

However, I'm still in the takeover camp, but I'm thinking the offer has to be north of 30c to justify.

Let's just see what the investor day brings in a little over a week from now.

I'm thinking about buying more if there's continue weakness over the next few days.

This stock must be worth at least $1 to Warner/Discovery, it's just God dam silly they're not interested in buying at these levels!

Fu*k it...

https://i.imgur.com/Ug3JM98.gif

LOL.

You must be the most fickle person I know.

[jimdog31]

https://i.imgur.com/SoMNrZo.png

bahahaha. spat my coffee out on that one!

[mistaTea]

If Peter is right and the market will rerate sky north of 50c/share once a divvy is resumed then shareholders had better hope there is no takeover/merger before then.

[mistaTea]

Korea Investment, NH Investment join financing of Australia`s Vocus buyout

https://pulsenews.co.kr/view.php?sc=30800020&year=2021&no=573457

The Korean brokerage consortium will bankroll AU$350 million and then sell down the debt to major institutional investors in Korea.

The Vocus deal is expected to generate annual returns of over 4 percent for the Korean investors. This is higher than what they could get in local markets, where debt financing deals currently yield just about 3 percent.

4%

https://i.imgur.com/iMBfbPZ.gif

I need to phone some of these Koreans. Get them into Sky deal with 8% returns.

Yield much higher if they buy at these prices. More like 30% +

[mistaTea]

https://www.nzx.com/announcements/374216

Look like we will be competing against Mercury Energy in the broadband space now.

IFT can use the cash to have another look at Sky (https://www.google.com/url?sa=i&url=https%3A%2F%2Ftenor.com%2Fview%2Fpsycho-laughing-hysterically-laughing-killer-shawshank-gif-15186318&psig=AOvVaw2HTd6DhKfDUqbKzFEZcA_o&ust=1624323082154000&source=images&cd=vfe&ved=0CAoQjRxqFwoTCKDav5PBp_ECFQAAAAAdAAAAABAD)!

[mistaTea]

An issue I have with Peter’s crude valuation is that it assumes Sky will generate FCF of $70-$100M in perpetuity.

Putting that aside, an 8% equity yield on cashflow is fantastic…if sky is still around in 12.5 years (and you therefore get your money back…though this really should be 15 years by the time you apply a discount rate).

I absolutely think that Sky will be around out into the future as the Business Case for SKT as a going concern is strong…

BUT…the market does not believe that. The Market has priced sky as though they only have 5 years left. That NZRU will ditch them after the 2025 season, and that will be the end of the business.

It is this crazy negative sentiment that has pushed the price so low. And, so long as Sky is ‘just an aggregator’, I don’t believe that sentiment will change as much as Peter might hope for.

[mistaTea]

https://timer.getmara.com/ZGF0ZT0yMDIxLTA2LTI5JnRpbWU9MDklM0EwMCZ0aW1lem9uZT 1QYWNpZmljJTJGQXVja2xhbmQmYmNrQ29sb3I9RkZGRkZGJmZv bnRDb2xvcj0wMDAwMDAmbGFiZWxDb2xvcj00NDQ0NDQmZGF5TG FiZWw9ZGF5cyZob3VyTGFiZWw9aG91cnMmbWluTGFiZWw9bWlu JnNlY0xhYmVsPXNlYw==.gif

Vocus vote tomorrow 10am Aussie time.

[LaserEyeKiwi]

An issue I have with Peter’s crude valuation is that it assumes Sky will generate FCF of $70-$100M in perpetuity.

Putting that aside, an 8% equity yield on cashflow is fantastic…if sky is still around in 12.5 years (and you therefore get your money back…though this really should be 15 years by the time you apply a discount rate).

I absolutely think that Sky will be around out into the future as the Business Case for SKT as a going concern is strong…

BUT…the market does not believe that. The Market has priced sky as though they only have 5 years left. That NZRU will ditch them after the 2025 season, and that will be the end of the business.

It is this crazy negative sentiment that has pushed the price so low. And, so long as Sky is ‘just an aggregator’, I don’t believe that sentiment will change as much as Peter might hope for.

is that FCF figure ignoring or including the leasing costs (which now are now not included in FCF calculation under the new accounting standards, even though it’s an ongoing cash cost)

[mistaTea]

I believe it takes into account the IFRS16 changes.

If he was using EBITDA we would have a problem.

But he is talking about FCF which, by virtue of how it is calculated, takes into account the leasing costs.

[Shareguy]

I just could not resist and topped up again today. Just need to have a look at the new housing going up with new dishes to see that SKY has a future. Clean balance sheet with no debt and a property for sale that should get a good price. Also suggest that investors have a look at what happened with Sky UK,who are major players in broadband and Mobile.

[nztx]

Are SKY giving away free shares on signing up yet ? ;)

[mistaTea]

Are SKY giving away free shares on signing up yet ? ;)

Not quite yet. But they should run a campaign to new subs - go in the draw to win DINNER WITH SOPHIE! Every red-blooded male in the country will be grabbing a Sky Box :D

[nztx]

Not quite yet. But they should run a campaign to new subs - go in the draw to win DINNER WITH SOPHIE! Every red-blooded male in the country will be grabbing a Sky Box :D


If that were to happen Ogg wouldn't need to wait for any sort of take over or take out .. ;)

unless he won the dinner ..

[Alpha]

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02386525-2A1304497?

access_token=83ff96335c2d45a094df02a206a39ff4 (https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02386525-2A1304497?access_token=83ff96335c2d45a094df02a206a 39ff4)

[Alpha]

Hello hello

[nztx]

indeed indeed .. :)

Where's Ogg ? ;)

[allfromacell]

Nice to meet you Mr Singapore, or is it Mr USA?

[jimdog31]

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02386525-2A1304497?

access_token=83ff96335c2d45a094df02a206a39ff4 (https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02386525-2A1304497?access_token=83ff96335c2d45a094df02a206a 39ff4)

Coincedence here??

https://www.silverlake.com/Images/Uploads/docs/John%20Brennan%20-%20New%20Hire%20Press%20Release%20-%20FINAL.pdf

[jimdog31]

turns out kiltearn has just been flicking them to fidelity who already had a holding.... one insto to another .

[mistaTea]

Obviously it's disappointing that these large buys aren't coming from Discovery or MIRA/Aware but it's good to finally see a reputable institutional investor buying up a large amount.

It's been 18 months since we've seen any decent accumulation by an institution (excluding the placement, which was really just a lolly scramble). Black Crane was the last institution who bought up large on market, but they are a small unknown boutique firm.

Kiltearn have been pressuring the price and it's taken someone like Fidelity to absorb the supply.

Hopefully now others will follow and also Kiltearn will stop selling.

If the takeover/merger doesn't come next Tuesday, then there better be a decent plan to see capital returned to shareholders.

The stock lacks market confidence. If dividends resume and a buy back program is announcement, then this should finally be enough to turn it around and hopefully it trades at fair value (30c).

Proud of you mate!

You have come a long way from “I’d be happy to take it up the a$$ for 20 odd cents per share, and other shareholders should too! So long as I make some money quickly by opportunistic takeover!!”

Now you are starting to put some rationale behind your thinking that kinda makes sense!

I will make a business owner out of you yet matey!!

*heart eyes*

[jimdog31]

???

https://i.imgur.com/GH5ILZv.jpg

Fidelity where never a major holder. From the notice it looked like they had/bought 32m before the 4 month period. Who knows how much they paid or when they bought those shares.

The point is that Fidelity have been buying up large above 17c in the last few months, but shareprice is trading lower at 16.6c

I was going off market screener, who said they had a 2.53% shareholding although it didnt say when or for how long

[winner69]

Haven’t been to this thread for a month - self imposed exile

Can one of you summarise what’s happened here in less than 50 words

Still been looking at share price …..still around 16/17 cents eh …….if they hadn’t cost me 12/13 cents I think I would be getting depressed

So in 50 words or less what’s happened ….thanks

[mistaTea]

https://i.imgur.com/GLpNpgy.gif

Hahahahahahaha!

I almost shat when I saw that!!!

LOLLLLLLLL!!!!

[RGR367]

Hahahahahahaha!

I almost shat when I saw that!!!

LOLLLLLLLL!!!!

Lol too. Yeah W69. Better stay with MFB thread as this is no place for real life business. So if you haven't got a better conspiracy theory than that of GOT then stick with the sticky buns for dinner. :p
Nice one Ogg!

[Sideshow Bob]

New shareholder on board today - got my daughter 1,000 or so via Sharsies.

When I talked to her about shares, she told her mum it was "so booorrring". Buying her shares in a few companies where she can understand - but the only thing she is interested in is horses.....;)

Just let me know when this takeover is going to start......

[mistaTea]

https://www.nzherald.co.nz/business/vodafone-makes-final-plea-to-customers-about-to-lose-tbox-cable-tv/NA46A564PJ4DQ6FFD64BTPCYZ4/

"We started offering Vodafone TV as the replacement, but customer feedback was people missed the hard disk recording of 100 per cent of programming that the Tbox offered, and which MySky box has. VodafoneTV features recording to the cloud of around 90% of programmes due to copyright restrictions. So we changed the offering to suit the demographic of the customers, and Sky has been great to work with."

Proof that customers still love traditional TV tech and that it has it's benefits.
Getting customers to move off a platform that works for them is very hard.

Sky's remaining ~500k are likely "very sticky".

MySky clunky but feature rich.

If I find content I want to to watch on Sky GO (easier to browse) I usually download it to MySky (which takes about 5 seconds to navigate the menus).

More convenient to watch off the STB than Chromecast and I also find the picture quality slightly sharper with MySky.

MySky just looks like sh1t from a UX perspective so younger audiences unlikely to reach for a sky box anytime soon.

[Sideshow Bob]

Next Tuesday @ 9am.

Right, locked and loaded in the diary.

[Baa_Baa]

"Stabilisation in Revenue Decline" ... pass me a Tui. Using the numbers from that chart (which is visually misleading plotting the ARPU they way they do), we have this table of Revenue & ARPU that we can calculate the Half-on-Half (HoH) movements.







Revenue
ARPU
Rev%Decline HoH
ARPU%Decline HoH


H1FY18

$ 351


$ 85















H2FY18

$ 331


$ 84


5.70%


1.18%







H1FY19

$ 322


$ 84


2.72%


0.00%







H2FY19

$ 308


$ 83


4.35%


1.19%







H1FY20

$ 299


$ 83


2.92%


0.00%







H2FY20

$ 283


$ 81


5.35%


2.41%







H1FY21

$ 271


$ 79


4.24%


2.47%




















4.21%


1.21%

Average



So Revenue "stabilised" basically means it is flat line continuation of the decline (at 4.21% average) and ARPU decline is increasing HoH (1.21% average) with H2FY20 and H1FY21 "stabilised" at the highest ARPU decline HoH around 2.4%.

1264012642

Ok, so what have I got wrong with this?

https://www.sharetrader.co.nz/blob:https://www.sharetrader.co.nz/8c24f15e-19ff-4141-a877-aedbd8b5d774
https://www.sharetrader.co.nz/blob:https://www.sharetrader.co.nz/95e9e9df-ac3c-4f96-9003-63047214e910
https://www.sharetrader.co.nz/blob:https://www.sharetrader.co.nz/3392cbc5-e3a4-4eda-9756-f2310ff31e54

[mistaTea]

https://hotcopper.com.au/threads/ann-scheme-meeting-chairmans-speech.6120833/

I think Ogg would have given a more rousing speech than Bob!

After shareholders approve the deal today, final hurdle is getting the Supreme Court to rubber stamp it on Thursday 24 June. Just a formality I think.

And then...Voyage Australia Pty Ltd will journey to the Sky?

[mistaTea]

Ok, so what have I got wrong with this?



Coming on this forum with cold, hard facts and figures instead of wild conspiracy theories. That's what you got wrong mate.

[LaserEyeKiwi]

It is a little miss leading but it's all relative. This is what revenue decline looks like:


https://i.imgur.com/U1o8p8i.jpeg


Although Sky's revenue is falling it isn't capitulating. There is growth coming from streaming.

Also, it's hard to read into the numbers, especially with covid. The decline in advertising and commercial revenue, like clubs are bars etc.

The main point is that the decline in Skybox numbers has started to stablise, I think that was the main point Peter was making in his presentation.

In the next few halves revenue will shoot up because of broadband and the numbers will skew again.

In the near term the broadband product will cost more than it generates, it will be a cash suck for another year or two (this is in addition to the upfront backend costs which Sophie mentioned already as a large capex cost in the coming 6 months).

i created this crude chart a while back, which assumes a $150 upfront cost per subscriber for average installation cost including modem, and ongoing $10 a month net margin per customer. Even after achieving a hypothetical 25,000 subscribers after 12 months, the operation would still be burning cash. And that doesn’t cover marketing.

12649

[mistaTea]

This is why a Vocus/2degrees/Sky merger is the only way forward long term.

Stop quoting me, it’s getting embarrassing

[bottomfeeder]

Why did fidelity buy enough to make a disclosure. Are they looking for a larger holding, are they in cahoots with someone else. Or are they wanting the SP to go up and then dump their holding. Why not stay below the 5%

[Alpha]

More large transcations today? Dereck?

[mistaTea]

I first mentioned Vocus, you kinda just added to it.

Check your PMs if you don't remember.

Most people know it was me.

https://i.imgur.com/kjqucgu.jpg


https://www.youtube.com/watch?v=HQfzwFloVqA

[nztx]

They're in cahoots for sure. Probably organising the takeover as we speak. The market is fixed, it's all fake orders and bots! Trust no one. Fake news is everywhere these days. Even the Sky directors are in on it.

https://i.imgur.com/m9zzjOr.jpg

No fake news on here - Ogg ? ;)

I guess were can all be sure that you would be onto it, if there was .. ;)

[mistaTea]

If I know Ogg, he is currently drafting a speech in anticipation of a catalyst event announcement soon.

[mistaTea]

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12452467

Sky keep NRL.