SKT Sky Network Television Limited.

**jimdog31** · 29-06-2021, 02:34 PM

Originally Posted by Ogg

More upbeat article

https://www.stuff.co.nz/business/125...turn-to-growth

Again, both this article and the heralds article no mention of the fact an Adviser has been appointed to advise on transactions as per Takeover Protocol B. Isn't that bigger news than the set top box?

1.4 The Board will:
(a) Treat all discussions and correspondence confidentially.
(b) Contact the Company's lawyers to seek advice on confidentiality and continuousdisclosure obligations regarding the incomplete proposal.
(c) Call a Board meeting at which the Board will:

(vi) consider appointing a financial adviser to advise it on the proposal; and

If i were OGG i'd be posting the John travolta confused meme.

**freebee** · 29-06-2021, 02:37 PM

Originally Posted by jimdog31

Again, both this article and the heralds article no mention of the fact an Adviser has been appointed to advise on transactions as per Takeover Protocol B. Isn't that bigger news than the set top box?

1.4 The Board will:
(a) Treat all discussions and correspondence confidentially.
(b) Contact the Company's lawyers to seek advice on confidentiality and continuousdisclosure obligations regarding the incomplete proposal.
(c) Call a Board meeting at which the Board will:

(vi) consider appointing a financial adviser to advise it on the proposal; and

If i were OGG i'd be posting the John travolta confused meme.

https://www.stuff.co.nz/business/125...ted-approaches

**jimdog31** · 29-06-2021, 02:41 PM

Originally Posted by freebee

https://www.stuff.co.nz/business/125...ted-approaches

Thanks, I did wonder why the other articles made no mention. How weird is it that journalists asked about this after the presentation but none of the analysts bothered to ask? Prime opportunity to grill them like the below question;

"Asked whether the approaches had included any full takeover offers for Sky, chief executive Sophie Moloney said there were “a range of talks on the table”."

and

"Moloney wouldn’t comment directly on whether any of the approaches Sky had received to date were under active consideration but said it was expecting some of them would be “ongoing”."

**JohnnyTheHorse** · 29-06-2021, 02:42 PM

My impression is that Sky has not been interested in seriously trying to progress proposals further until they had this strategy in place and signed off by the board. It wouldn't make sense for them to unless they had a very compelling offer. Whether people are interested in a full takeover or a merger remains to be seen. It's game on though.

**LaserEyeKiwi** · 29-06-2021, 02:51 PM

Originally Posted by freebee

https://www.stuff.co.nz/business/125...ted-approaches

thanks for the link!!! New comments from Sophie in that article, made after the investor meeting:

Sky TV has received “unsolicited approaches” from would-be investors and has appointed investment banker Jarden to advise it on any future discussions, the company’s chairman Philip Bowman says.“We have confirmed today that Sky will evaluate strategic investment partnerships that deliver sustained ongoing growth to the rights content and distribution reach of the company, which in turn will accelerate the creation of shareholder value,” he said.
Asked whether the approaches had included any full takeover offers for Sky, chief executive Sophie Moloney said there were “a range of talks on the table”.

“That is why the board has determined along with me, that appointing Jarden at this time is absolutely the right thing to do,” she said, commenting after a presentation to analysts on Tuesday morning.
Jarden’s role would be ongoing rather than fixed-term, she said

Moloney wouldn’t comment directly on whether any of the approaches Sky had received to date were under active consideration but said it was expecting some of them would be “ongoing”.

“For our side, we have got a strategy and we are going to be cracking on delivering it,” she said.

Moloney said that as chief executive she would be interested in partnerships that drove more value for the company’s shareholders.

“There has been industry consolidation but any partner that is going to help us be better at what we do already whether it is from a content or a tech perspective will obviously be of interest,” she said.

apologies tor the crap formatting

**jimdog31** · 29-06-2021, 02:53 PM

The Fact that they have appointed Jarden "ongoing" means they are resigned to the fact its going to happen and there strategy is really about getting the best value.

**LaserEyeKiwi** · 29-06-2021, 02:56 PM

One tidbit from the presentation was that broadband was expected to be loss making for a couple of years, which fits with my initial expectations that the initial setup costs for each new subscriber take a while to recoup. It was mentioned as a quick throwaway comment at the end of the broadband section, can’t remember exact line but something akin to “will not be EBITDA accretive for a couple of years”.

**LaserEyeKiwi** · 29-06-2021, 03:03 PM

Originally Posted by Ogg

No doubt, especially after that woeful performance this morning. Management have absolutely no credibility left. Hopefully Jarden can clean up this mess!

but what about the NFTS?!

I laughed out loud when I saw that (they kept referring to NBA top shot as an example of a successful NFT for sports collectibles - without mentioning that NBA topshot sort of has faulted a bit recently). I will say though it’s genius buzzword product to hook those leagues they are in negotiations with like the NRL with the promise of lucrative high margin ancillary revenue additions (whether they eventuate or not).