I believe he had CFO experience in Sky UAE
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I think a stabilisation in normalised FCF would see some pressure upwards. The market has been worried about subscriber losses, content costs and reduced earnings.
Subs have increased a lot (lower margin streaming customers for sure, but still very positive). We will get a flavour of how the cost control is going in the next report.
If they are able to maintain ~50M (3c/share) a year moving forward that can be used for dividends and/or a share buyback it should make the market view the business as more valuable.
Even if the market only valued the business at 10x 'distributed FCF' you would be looking at a MC of ~30c/share. If the market sees the changes in the business (i.e. becoming a telco) as a net positive and expects some growth in 'distributed FCF' over time then the MC could easily hit 40c+.
I am not making any predictions here, DYOR - just pointing out that it is not all doom and gloom for the business and I don't think it would take too much to move the needle.
Though it is also fair to say that the market has been very pessimistic about Sky's future prospects for some time now, so my assumptions may be wrong.
Interesting info about Vodafone Australia merging with and TPG
First merger attempt got blocked by regulators but then overturned in Federal Court.
Now trading under ASX ticker TPG as of 30th June 2020.
https://www.itnews.com.au/news/vodafone-and-tpg-15bn-merger-gets-court-approval-reports-537944
LOL, fair enough mate.
Fortunately I am not desperate for something big (i.e. a takeover) to happen in the short term. So happy to watch how the business developments unfold over time - the good and the bad.
But your increasing desperation...well...I can smell your...STINK...
Me talking to Ogg about my feelings of his short term speculative investing and Mr Market's mood swings...
https://www.youtube.com/watch?v=yL9Y24ciNWs
Imagine if cannasouth overtakes SKY TV in market cap. Wild speculation on weed stocks before the referendum might make that happen. Then our friend Mr69 can laugh at us even more.
Currently 'down' ~57%. Meaningless to me.
At one point I was down ~90%. Was meaningless to me.
Now that could be due to my very long-term investing horizons causing me to be 'stone cold' - or it could just because I am a complete idiot with too much money and not enough brains.
There will be a number of users on this forum who would gladly endorse the latter :D
No part of me is hoping for a takeover. 100% of me is carrying on as usual and looking forward to the next opportunity for management to tell me how my business is performing, what they have been doing and what they plan to do in the future.
Mista tea. Are you saying your down 57% on sky. At what mark do you break even when sky goes up again.
No endorsement from me on that latter statement misterTea, you've been a godsend on this thread. Kinda got caught up in the value trap, then had to go in on the CR. Down 50% with b/e at 26c, so yeah gotta way to go. Just biding ones time with a bit of crazy hope and faith (with an eye on the numbers of course) in the next couple of years.