Ten Network's FVE Cut to AUD 0.30; with Going Concern Future in Hands of Lenders
The abrupt unravelling of our thesis on Ten Network has led to a 51% cut to our intrinsic assessment for Ten Network to AUD 0.59 per share as a...
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Ranking the Three Networks in No-Moat Television Sector
Nine Entertainment Co Holdings Ltd (NEC AU) is our preferred stock in the television sector. Despite rising 22% since the February result, shares...
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Not Much Fun In Leisure; Ardent Leisure Undervalued While Event Hospitality Worth Monitoring
Leisure companies under our coverage endured a torrid reporting season, with average fiscal 2017 first-half EBITDA fall of 15% from a year ago. The...
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Groundhog Day for Australian Media Sector: Reform to Ignite Urge to Merge.
Hype is brewing ahead of a potential relaxation of media ownership laws in Australia, with endless speculations about possible mergers and...
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Financial Strength Arms Nine Entertainment with Ammunition to Combat Structural Headwinds.
An investment in Nine Entertainment requires weighing the strong positioning of its Nine Network division in Australian free-to-air television...
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