SKT Sky Network Television Limited.

[mistaTea]

A merger with Nzme could help accelerate this. You have advertising options galore accross differrent mediums, radio, web, tv.

The relative values for NZME and Sky TV and looking a lot better now. $187M vs $352M...which is probably a reasonable reflection of each companies underlying Owner Earnings (proportionally).

You could do a merger right now just using equity, no cash needed, and the new combined entity would be worth more than $539M ($187M + $352M)...with Owner Earnings probably sitting at around $100M for FY22, and then growing significantly after that once Sky finish the major spending on broadband and the new STB.

Combined EBITDA would probably be around $180M in FY22 with large scope to grow. Even a 5x multiple would be $900M.

Not crazy to think that this is what Osmium would want...though they would probably like to own a bigger share of Sky first to reap maximum rewards from their ownership in both Sky and NZME.

But we also know that Sky TV conspiracy theories never seem to work out - so definitely not trying to make any firm predictions here.

[jimdog31]

The relative values for NZME and Sky TV and looking a lot better now. $187M vs $352M...which is probably a reasonable reflection of each companies underlying Owner Earnings (proportionally).

You could do a merger right now just using equity, no cash needed, and the new combined entity would be worth more than $539M ($187M + $352M)...with Owner Earnings probably sitting at around $100M for FY22, and then growing significantly after that once Sky finish the major spending on broadband and the new STB.

Combined EBITDA would probably be around $180M in FY22 with large scope to grow. Even a 5x multiple would be $900M.

Not crazy to think that this is what Osmium would want...though they would probably like to own a bigger share of Sky first to reap maximum rewards from their ownership in both Sky and NZME.

But we also know that Sky TV conspiracy theories never seem to work out - so definitely not trying to make any firm predictions here.

I hear you on the conspiracy side.

Although, its hard to not entertain these thoughts based on ACTUAL sph disclosures….

[mistaTea]

I hear you on the conspiracy side.

Although, its hard to not entertain these thoughts based on ACTUAL sph disclosures….

Yeah agreed...of all the theories this one is the most plausible I think, given Osmium. These guys aren't fools.

[LaserEyeKiwi]

The telco merger has been debunked.

The Vodafone/Sky merger was the only chance it would happened.

This is why AT&T is spinning off Warner.

Even Marko spat on the idea.

It's dead face it. Sky will never be a telco.

Sky will join the Comcast family. That's it's home. The adoption papers are being drawn up now.

Just wait. Everything will be fine by Christmas.

disagree with this as Comcast is primarily a telco (americas largest broadband provider) - and going by the logic of what you just said they would have no desire to buy another content provider (especially after the post acquisition skyUK earnings tanked) that would be the opposite of what you just pointed out that AT&T is doing.

[mistaTea]

disagree with this as Comcast is primarily a telco (americas largest broadband provider) - and going by the logic of what you just said they would have no desire to buy another content provider (especially after the post acquisition skyUK earnings tanked) that would be the opposite of what you just pointed out that AT&T is doing.

Don’t let your facts get in the way of theory mate!

https://www.google.co.nz/amp/s/www.h...234955676/amp/

Interesting write up. Note how it also says Comcast don’t want to buy media companies outright but are more open to JV type arrangements.

I believe they approached SNT with a JV type offer (not a takeover) but the offer was not favourable enough to SNT shareholders to go ahead.

They don’t want to buy Sky outright, so any hopes of some kind of deal with Comcast at this junction are unrealistic.

[LaserEyeKiwi]

Don’t let your facts get in the way of theory mate!

https://www.google.co.nz/amp/s/www.h...234955676/amp/

Interesting write up. Note how it also says Comcast don’t want to buy media companies outright but are more open to JV type arrangements.

I believe they approached SNT with a JV type offer (not a takeover) but the offer was not favourable enough to SNT shareholders to go ahead.

They don’t want to buy Sky outright, so any hopes of some kind of deal with Comcast at this junction are unrealistic.

i just don’t think there is anything that Sky has that Comcast would want. As referenced in that article, if their aim is to acquire or partner with media companies to enhance its content library for a worldwide streaming Platform - Sky NZ has zero content that fits that bill. The only content it produces is based on intellectual property owned by others (the sport content), it has no intellectual property content of its own that could be added to a worldwide streaming platform (SKY UK on the other hand had lots of intellectual property production). Furthermore - sky’s current content licensing with the likes of discovery & warners/hbo would likely be at risk for renewal down the line if Comcast owned skyNZ. The best that could be hoped for is status quo.

[mistaTea]

i just don’t think there is anything that Sky has that Comcast would want. As referenced in that article, if their aim is to acquire or partner with media companies to enhance its content library for a worldwide streaming Platform - Sky NZ has zero content that fits that bill. The only content it produces is based on intellectual property owned by others (the sport content), it has no intellectual property content of its own that could be added to a worldwide streaming platform. Furthermore - sky’s current content licensing with the likes of discovery & warners/hbo would likely be at risk for renewal down the line if Comcast owned skybox. The best that could be hoped for is status quo.

Well yes and no.

For the right price, a JV with SNT could still be favorable to Comcast because it would mean it has access to Sky's large customer base and would get a share of total revenue generated. They would stand to earn more money from SNT that way over time than it gets from the NBCUniversal deal it currently has.

While the SP was low and Sky was vulnerable, it seems they did make an approach of some sort. But it was opportunistic, low ball and there was no way a friendly deal would be done.

It is very clear though that Comcast are not that interested in full blown takeovers...and whatever discussions they may have had with SNT are in the distant past now. No real cause for continued speculation that they are going to make a play for Sky.

[mistaTea]

The JV idea came about because Sky was valued at over $1b.

Comcast got it's fingers burnt over paying for Sky UK.

Doing a JV now is pointless. Comcast market cap has doubled since then. Sky is worth pennies now.

Better to buy it outright. JV complete waste of time.

So even though there are direct quotes from Comcast in recent media appearances that they have very little interest in outright takeovers, and prefer JVs...

you still just reject it out of hand?

Interesting.

[mistaTea]

Just lol.


Just lol bro.

Will leave it to LaserEyeKiwi and jimdog31 to pick this one apart

[LaserEyeKiwi]

Comcast has over 70 million customers and ~$110 Billion USD revenue. An acquisition of Sky NZ would be a sub 1% addition to its metrics and very low on its radar I would say (unless it was dirt cheap, which it no longer is - and even then the regulatory hassles are probably judged a waste of its time and resources). If it could bundle up Foxtel & Sky NZ it might look like a deal of meaningful size worthy of consideration perhaps (and of course foxtel alone would also be a better target for Comcast).