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NZME - New Zealand Media & Entertainment
Does anybody else have this on their radar??? Took a hammering listing last Friday, currently down 20%. Tried to buy some this morning but got phone call from ASB securities to advise there was an error listing on the NZX and if I bought some, ownership wouldn't be transferred until July 5th.
What is that all about?
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No idea, but there's been over 3m traded this morning at around 80c.
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Incredibly quiet listing.Just read an article in this mornings herald about i and was going to ask a similar question re investment grade opinions etc. i see over 3000,000 through on the NZX this morn. ASB often has glitches so suggest the error may be with them. Listed re at 86c now 81c.
Settling with IRD the sum of $18.15 mill(halved withAPN)
NZ Herald ,Dom post, The Press etcNewstalk ZB,IHeart radio.Radio sport, Coast, ZM, hauraki ,The hits, etc
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Member
Originally Posted by Joshuatree
Incredibly quiet listing.Just read an article in this mornings herald about i and was going to ask a similar question re investment grade opinions etc. i see over 3000,000 through on the NZX this morn. ASB often has glitches so suggest the error may be with them. Listed re at 86c now 81c.
Settling with IRD the sum of $18.15 mill(halved withAPN)
NZ Herald ,Dom post, The Press etcNewstalk ZB,IHeart radio.Radio sport, Coast, ZM, hauraki ,The hits, etc
Also have the GRAB ONE e-marketing business as well. Interested in Michael Boggs as CEO .....ex CFO @ TOWER Insurance and threw his hat in the ring for the top job there when Rob Flannagan left.
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Originally Posted by Southern_Belle
Does anybody else have this on their radar??? Took a hammering listing last Friday, currently down 20%. Tried to buy some this morning but got phone call from ASB securities to advise there was an error listing on the NZX and if I bought some, ownership wouldn't be transferred until July 5th.
What is that all about?
If you go to the NZX site,NZME,announcements, you will see the timetable.
So no concern buying today,just the transfer will not go through until 5th July.
Only problem I can see is if doubt you would be able to sell until they have been transferred into your name.
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Bulk of the revenue and EDITDA seems to come from print media, i.e. N.Z. Herald. Could be a good opportunity if there's anyone left who thinks print media is a growth industry. Similar theme to it as Sky television in my opinion. N.Z. herald is suffering a death by 1000 cuts. Other assets seem okay. Of course expect them to try and reinvent themselves over and over again on the way down just like Sky are. My 2 cents.
Last edited by Beagle; 28-06-2016 at 01:02 PM.
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Had (triggered by a fellow investor) a brief look through their profile:
http://www.nzme.co.nz/media/1047/nzm...e-27-06-16.pdf
This is basically a conglomerate of print media (NZ Herald as flagship), commercial radio stations and an internet platform (GrabOne - never heard of them before, might be another website going against trademe, but who knows).
Their "pro-forma" financials show a clear trend of dropping revenue and EBITDA (page 26 of above profile) consistent with the global trend in the printed news industry.
Given that print media (and that's in my view the only part of their portfolio with some quality assets) are rapidly shrinking, given that commercial radio is already full of ads up to the hilt (I stopped to listen to commercial radio decades ago - much better program for free on the internet) and given that it is really hard to compete with something new against e-bay and TradeMe am I not sure whether I would see them as a great investment.
Anyway - it looks like the markets feel similar - after a highly unprofessional stock market introduction does the SP drop like a stone. Sure - dead cat bounces might offer some opportunities for traders (IQE springs to mind ....), but I personally would not see them as a long term investment opportunity. Not sure what the potential merger with Fairfax would mean (again - speculative short term gains might be possible), but in my view too much risk and not enough likely rewards.
Discl: don't hold and happy to keep it that way; However - DYOR, I might be wrong ...;
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"Prediction is very difficult, especially about the future" (Niels Bohr)
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I had to smile at the comment on the radio this morning when some guy said he noted that APN had 'gifted' NZM some $100m of debt
”When investors are euphoric, they are incapable of recognising euphoria itself “
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Let me insert a bit of positivity...
If the commerce commission allows the merger with APN's NZ assets, NZME will be the dominant media company in NZ. I assume they will merge nzherald.co.nz and stuff.co.nz and institute a paywall which will have a reasonable chance of working and should stabilise the print business. Which serious business person or investor will not pay to access their content online?
Their radio assets are very profitable and will provide them the space to stabilise and turnaround their print/online assets while paying a dividend.
Following the merger NZME will have the marketing muscle to grow strongly in the digital space. They have just released a Herald Homes app for real estate and driven.co.nz which provides free car listings. Both are attempts to wrest back market share from Trademe.
As a country we need NZME to succeed so I am hoping they can stabilise and begin growing again.
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www.stuff.co.nz is a complete waste of time.Scales recently held their agm in Christchurch.Was not reported in The Press.
The Press business section is more a lifestyle couple of pages.Very poor articles.
As a serious investor I would not pay to read business content.
I cancelled The Sunday Star Times as it is now hopeless.When they had Tim Hunter [now NBR] you got the odd decent article.
The NZ Herald has some good articles,however I would again not pay to read them.
I used to read The Australian until they put up a pay wall.Have not missed it.
Don't know who owns it but www.scoop.co.nz have reliable up to date business news.
Any way as an investor I am best reading company announcements,which are available via www.nzx.co.nz.
As for ever wanting to listen to Paul Henry or Mike Hosking, the answer is never.
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