SKT Sky Network Television Limited.

[Entrep]

Long-time critics of Sky being outdated and run by old white men (who have been in their jobs too long) should be singing the new CEO's praises! A big clean-out is overdue, or so I hear!

Predictably though, the critics will position this as the company being in turmoil etc.

I expect a big shake-up in 2019 with Martin Stewart. Any fears that he will not be able to 'be his own man' with Fellet breathing down his neck as a Director, so far appear to be unfounded.

Hollingworth is a top operator, big loss IMO.

[mistaTea]

Hollingworth is a top operator, big loss IMO.

I am sure that he is - and with 16 years of IP, that will be challenging to replace.

It is also fair to say that Sky can't keep doing what they have been doing over the last few years if they have any hope of growing their subscription base. A drastically different approach will certainly be uncomfortable for a number of the Old Guard, and when that happens it is probably in everyones best interest to part ways.

This will all go swimmingly for Martin if his new approach leads to success. If he fails though, people will nail him for being too gung-ho and losing key talent in such short order etc etc.

[BlackCross]

"...Hollingworth had said he was considering throwing his hat in the ring for the top job when veteran CEO John Fellet announced his exit last year. However, Sky's board opted for Stewart to oversee the transition from a traditional satellite pay-TV broadcaster to a multi-platform entertainment business...."

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12212892

[mistaTea]

"...Hollingworth had said he was considering throwing his hat in the ring for the top job when veteran CEO John Fellet announced his exit last year. However, Sky's board opted for Stewart to oversee the transition from a traditional satellite pay-TV broadcaster to a multi-platform entertainment business...."

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12212892

Difficult to support the new guy that took the job you wanted, you reckon?

[Entrep]

"...Hollingworth had said he was considering throwing his hat in the ring for the top job when veteran CEO John Fellet announced his exit last year. However, Sky's board opted for Stewart to oversee the transition from a traditional satellite pay-TV broadcaster to a multi-platform entertainment business...."

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12212892

So did he actually throw it in or not? Also given how well regarded he is of course he considered the job

[mistaTea]

About 28M traded today. Who is this mystery buyer?

[moimoi]

Not necessarily a buyer.....

Algorithmic trading via direct market access with no change in beneficial ownership of the shares...

Buyer and seller potentially essentially the same entity.

[waikare]

Not necessarily a buyer.....

Algorithmic trading via direct market access with no change in beneficial ownership of the shares...

Buyer and seller potentially essentially the same entity.

Had to google Algorithmic Trading, still a little unsure of what's it all about, care to enlighten a few of us less knowledgeable punters Moimoi...….

[Chanchay]

Not necessarily a buyer.....

Algorithmic trading via direct market access with no change in beneficial ownership of the shares...

Buyer and seller potentially essentially the same entity.

If there is no beneficial owner change I think it's illegal in NZ. The broker who provides direct access is responsible to ensure clients dont do it either by accident or intentionally. I think Craig's or some other firm got a fine recently for this. Interesting new world of investment.

[mistaTea]

You are right about that, not legal to do that kind of trading here.

Amounts to market manipulation as one attempts to create the illusion that there is high interest in a stock.

The more likely explanation is that Kiltearn are dumping all of their stock in short order, causing the stock price to plunge while some other organisation is buying up just as aggressively.

Wouldn’t surprise me at all if someone was trying to buy up to the 19.99% limit at a bargain price before attempting a takeover (and paying closer to intrinsic value for the remaining shares). That is what Vero tried with Tower a year or so back (though they were ultimately unsuccessful).