SKT Sky Network Television Limited.

[Balance]

I expect a deal to be announced very soon (within days).

They are expecting us to vote on it at an exceptional meeting…so to get that in before we would have put AGM in August they need to get the deal before us pretty quickly…

A meeting can be called anytime, doesn’t have to be at the ASM?

[Sideshow Bob]

Sky TV shares slump after it confirms talks to acquire MediaWorks | Stuff.co.nz

At least they admit to reading Sharetrader!!

[winner69]

If you haven't already done so the Mediaworks financials are interesting reading (Outfits run by PE outfits are always interesting)

Book Value (Equity) is $266m which includes $300m of Intangibles - of which $232m is Goodwill

Note 14 is very interesting - the bit where they say that the Goodwill is actually worth that $232m .... Mediaworks Radio $168m and Outdoor $72m

https://app.companiesoffice.govt.nz/...9962C1A0111E86

[Watchful]

So a company in the business of selling largely ad-free content to premium subscribers, buys… an advertising business?

[mistaTea]

A meeting can be called anytime, doesn’t have to be at the ASM?

Yes absolutely that is what I mean.

An Exceptional Meeting would be before our AGM in August.

So, if we were to have a special meeting to vote on this deal in July (for example) they would need to get a deal in front of us very soon.

If they present a deal that requires us to pay any more than $50M cash (given we would be inheriting to much debt) I think the deal will get voted down convincingly. Above a $50M offer they are just squandering our cash and most would rather a tax free payment.

Rather give me my money and let me waste it on the 3 P's (piss, pokies and poontang) thanks!

[winner69]

Yes absolutely that is what I mean.

An Exceptional Meeting would be before our AGM in August.

So, if we were to have a special meeting to vote on this deal in July (for example) they would need to get a deal in front of us very soon.

If they present a deal that requires us to pay any more than $50M cash (given we would be inheriting to much debt) I think the deal will get voted down convincingly. Above a $50M offer they are just squandering our cash and most would rather a tax free payment.

Rather give me my money and let me waste it on the 3 P's (piss, pokies and poontang) thanks!

So disillusioned are we .....Seems like you should SELL SELL SELL ...... right now

[mistaTea]

So disillusioned are we .....Seems like you should SELL SELL SELL ...... right now

Is that so I can help you BUY BUY BUY for a cheaper price mate?

[Balance]

Are you looking for a few cheapies balance

No point defying the overwhelmingly negative sentiment of Sky doing an acquisition rather than paying out the cash or being taken over.

Let those who want out do so and yes, if it gets cheap enough, happy to add on a few more.

I think that those viewing the potential deal as being only negative are ignoring a number of points which MistaTea has summarized rather well about where Sky can go from here.

[LoungeLizzard]

Is that so I can help you BUY BUY BUY for a cheaper price mate?

Yep, as I've said, SKY had only just re-habilitated it's image as a look-ahead, lean, investable company - $40-$50m NP each year, no debt, growth prospects and solid SP base. Now it is back as a stock for chancers trying to earn a quick buck, before everything burns. Depressing beyond words.

[LoungeLizzard]

No point defying the overwhelmingly negative sentiment of Sky doing an acquisition rather than paying out the cash or being taken over.

Let those who want out do so and yes, if it gets cheap enough, happy to add on a few more.

I think that those viewing the potential deal as being only negative are ignoring a number of points which MistaTea has summarized rather well about where Sky can go from here.

I think Ogg, bless him, would have had a few choice gifs to describe the mood...