Without knowing any of the details I'm afraid this might be the worst possible outcome for shareholders. Forget about buybacks and dividends. Forget about any future takeover. And I think the SP will go down on this news, not up. What are they thinking - radio and outdoor advertising? They need to defend their core business and add a telco if they want to have any future. Looks like a monumental error to me if true.
Agreed. This is highly disappointing.
BTC went to $69K and now $16K. Good thing I’ve been warning you since it was $3K! I was right!
Sky Network Television Limited (NZX/ASX: SKT or Sky) wishes to address recent speculation in the Australian Financial Review and other media sources in relation to Sky’s possible acquisition of MediaWorks Holdings Limited (Mediaworks).
Sky advises that: - it is currently in exclusive negotiations with Mediaworks shareholders regarding a potential acquisition of MediaWorks’ radio and out of home advertising business; - the likelihood of a transaction proceeding is still highly uncertain with discussions and due diligence ongoing and incomplete; and - under the current proposed transaction structure if an acquisition of Mediaworks proceeds, it would not require Sky to raise new equity but would require approval of an ordinary resolution by shareholders at an Extraordinary Shareholder Meeting. Sky indicated at the time of announcing its interim results on 24 February 2022 that it is assessing opportunities to invest capital to accelerate the growth of the business, generate new revenue streams, and deliver improved returns for shareholders. Sky management and Board see the possible acquisition of MediaWorks as consistent with this strategy. We confirm Sky Network Television Limited is in compliance with its continuous disclosure obligations under both the NZX Listing Rules and the ASX Listing Rules.
Last edited by LaserEyeKiwi; 07-06-2022 at 08:33 AM.
Sky Network Television Limited (NZX/ASX: SKT or Sky) wishes to address recent speculation in the Australian Financial Review and other media sources in relation to Sky’s possible acquisition of MediaWorks Holdings Limited (Mediaworks).
Sky advises that: - it is currently in exclusive negotiations with Mediaworks shareholders regarding a potential acquisition of MediaWorks’ radio and out of home advertising business; - the likelihood of a transaction proceeding is still highly uncertain with discussions and due diligence ongoing and incomplete; and - under the current proposed transaction structure if an acquisition of Mediaworks proceeds, it would not require Sky to raise new equity but would require approval of an ordinary resolution by shareholders at an Extraordinary Shareholder Meeting. Sky indicated at the time of announcing its interim results on 24 February 2022 that it is assessing opportunities to invest capital to accelerate the growth of the business, generate new revenue streams, and deliver improved returns for shareholders. Sky management and Board see the possible acquisition of MediaWorks as consistent with this strategy. We confirm Sky Network Television Limited is in compliance with its continuous disclosure obligations under both the NZX Listing Rules and the ASX Listing Rules.
No worries - Sky indicated at the time of announcing its interim results on 24 February 2022 that it is assessing opportunities to invest capital to accelerate the growth of the business,generate new revenue streams, and deliver improved returns for shareholders.
Tova will see to that ……Tova and Sophie both have that hard stare look so should get on well together.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
Originally Posted by LoungeLizzard
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