SKT Sky Network Television Limited.

[blackcap]

Seem to be a few ways to watch CNN without SKY.

The real question is why would you want to watch CNN?

[mistaTea]

The real question is why would you want to watch CNN?

Yeah I tuned into CNN for a bit yesterday. The reporting was just awful. Clearly biased with a left wing political agenda.

As bad as watching Fox, but on the other end of the political spectrum.

[mistaTea]

Yep, I've had access to all the news channels without Sky while things have been happening in the USA over recent days.

Interestingly, even at zero cost, watching any of those commercial channels arguably makes you less informed, especially the ones pushing opinions and political agendas.

The place to go for coverage was social media, with rioters and passers by providing constantly updated footage from every angle. The vast majority of it never made it to TV news - between glancing at TV news, and watching the constant content appearing on my social media feeds, at times, it was like watching two totally different things.

It is a little bit like the day with the nutter in Christchurch. If you recall, the TV hosts were playing down what was happening under orders and even quite late in the day, it was possible to completely misread the scale and number of deaths from the TV coverage provided. Meanwhile on the internet, people had seen from the shooter himself exactly what had happened.

TV News has largely been disintermediated by people power and the internet, so it is difficult to see the value proposition in a paid aggregator of the disintermediated.

I keep reading this “who would pay an aggregator when you can obtain the content for free by thieving or using ‘alternative’ sources” spiel.

Yet demand for Sky TV content has never been higher with over 1M subs now.

People do like convenience and are prepared to pay a reasonable fee for it. Sky TV aggregating a wide range of content (of which international news is just one part) is convenient.

CNN and Fox are rubbish, biased news channels. But there is BBC and Al Jazeera too which give reporting that isn’t based on US political bias.

Social media has benefits but I would not want to use that as my primary source of information.

[airedale]

On my confirmation email of the entitlement it was numbered in the 700s.

So I'm assuming ~700 people have filled in the form so far out of ~6,487.

Obviously there is going to be a shortfall. Likely at least $15m I would say.

Retail investors can't afford 34c a share, especially when the stock is trading so close to the application price.

The shorters and manipulators have played this well. Once they've loaded up on cheap underwrittern shares at 12, you'll start to see "buy" recommendations come out from institutions. Wouldn't be surprised if a take over came at 50 in a few months, which is still below the 52 week adjusted high.

My application number is 691 posted at 1.51 pm Saturday. There is still a week for applications to be processed. There may well be a shortfall.

[airedale]

Hi Mista T, I agree that Fox News is absolute rubbish. I have just watched the doco on the downfall of Roger Ailes.....talk about the lunatic fringe with an unhealthy sexual agenda. Ailes is dead and gone now but I think that Sky should have dropped that channel long ago after Rupert Murdoch pulled his support for Ailes.

[winner69]

Hi Mista T, I agree that Fox News is absolute rubbish. I have just watched the doco on the downfall of Roger Ailes.....talk about the lunatic fringe with an unhealthy sexual agenda. Ailes is dead and gone now but I think that Sky should have dropped that channel long ago after Rupert Murdoch pulled his support for Ailes.

RT interesting

[Ogg]

My application number is 691 posted at 1.51 pm Saturday. There is still a week for applications to be processed. There may well be a shortfall.

We are almost exactly 24 hours apart. So it's a fact that 70 people filled in the form in that period. The preceding 4 days was done at an average of 175. Obliviously because of a spike on Wednesday as soon as the offer became available.

So assuming 100 per day over the next week gets it to 1400. Then maybe triple the amount on the last two days. You're looking at 2000 absolute max. Postal application would likely be less than 100.

Although you can subscribe for 120% of your entitlement some will elect to do less than 100%, so the average will probably work out to be 90%.

Total needed to be raised is $38m. I'm thinking it will be short by $20m, about 50%.

Strange how they capped it at 120%. Looking at the Kathmandu retail placement it said you could elect for as many shares as you wanted, can someone confirm that?

[mistaTea]

Strange how they capped it at 120%.

Not so strange given this whole deal has been structured to benefit their investment banker mates.

Fair enough a CR was needed in the end to put the bond issue to bed and ensure their was enough $ to make the investments they need to. And it is not their fault that Covid came along and pushed the SP to crazy lows.

But this deal is going to overwhelmingly reward new institutional investors and management, while the small retail investors who can't fully participate are going to get nailed.

I am still happy to own my share of the business, and do not mind providing additional funds. But even if I did mind, what choice would I have had?

If I did not participate, and remained on an average cost of $1.06 per share I would never have any hope of breaking even. In that scenario Sky would have to do exceedingly well and perfectly execute their business plans and then some to build to a market cap of ~1.8B just for me to break even.

So there really was no other choice anyway. Given there will be a number of people who do not participate, all I can hope is that I am able to get the full 120% I have applied for so that I can truly hold my current position.

Even if you just take 100% of your entitlement, you will still actually be diluted a little given the 'extra new shares' being issued as part of the Placement.

[RRR]

I will be applying for 120% (12K) - ASB sec (nominee service) will forward my application on my behalf this week

[Marilyn Munroe]

An item from the ABC about Rupert Murdoch which covers the state of pay television over the ditch.

https://www.abc.net.au/news/2020-05-...ggles/12299350

Boop boop de do
Marilyn

PS. I am mulling launching a takeover bid for SKT. I propose to set up a US based special purpose entity which will finance the bid with bonds subscribed by a US money centre bank. This bank will then stuff them through the discount window at the Fed. If SKT falters and the bonds go into default the Fed will not seek redemption of the bonds and will eat the losses as a recovery would threaten the stability of the financial system.

All hail the Bernanke put.