The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Okay team, we've all probably seen the news over the weekend but here's Bloomberg's take on it this morning :-
https://www.bnnbloomberg.ca/itv-considers-takeover-bid-for-channel-4-sunday-times-reports-1.1671259.
Now what's really interesting is that ITV reports its Q3 numbers on the 10th November but this year the company is also presenting a 'Commercial Investor Seminar' on the same day :-
https://www.itvplc.com/investors/financial-calendar
Dame Carolyn did mention about the company holding two Autumn Seminars later this year with the second of the two being held on 9th December (The Studios Seminar) but holding the first one on the same day of the Q3 numbers ?
Looks like we could be in for a bumper day come 10th November !!
Just looking through the ITV website again this morning not for what's on ITV but for the job opportunities which ITV are advertising, there are currently 52 positions up for grabs with most of them concentrating on the digital rollout of the business.
Here's just one example of positions offered :-
'Lead Data Scientist
Data & Insight Group - Data Innovation - Data Science
Permanent
Location - London
Closing date: Tuesday 16th November 2021
Why you should join us…
At ITV, we love creating some of the nation's best-loved and most-watched content. We connect with millions of people every day, make content they can't get enough of and reflect and shape the world we live in… and we do all this through the power of creativity.
We will be a digitally led entertainment and media company that creates and brings brilliant content to audiences, wherever, whenever and however they choose.
It takes a collaboration of creative, commercial, and global thinkers to make things happen. Everyone plays their part. If you're curious, collaborative, open-minded and always look to do things better - you'll love building your career here.
Business Area Overview:
ITV On Demand is the home of the platform that powers the ITV Hub and Britbox UK. Last year the Hub served over 1.8 billion videos to 28 million users across 29 platforms including Amazon Fire, Xbox, Android and iOS devices to name but a few. We’re constantly expanding with year-on-year video delivery increasing by 23%.
Britbox was launched in December 2019 and is ITV’s joint venture with the BBC and other content partners, that aims to deliver a best-in-class subscription video service for great British content - all powered by technology battle-tested on the Hub.
Sitting within the Data Innovation function, we have an opportunity for a Lead Data Scientist to join our Data Science team and be instrumental in delivering our data strategy. You will recruit and manage a team of Data Scientists working in cross-functional teams across various domains. '
Looks to me that our Dame is ramping things up quite nicely (and stealthily) !
"Looks to me that our Dame is ramping things up quite nicely (and stealthily) !"
hope it works
….but the pain continues.
Next time she sees Bloomberg she should say something that might help the share price!
That does not inspire me with any sort of confidence. First if they wanted to attract quality they should have outsourced this whole development too experts. As it stands it sounds like an ambitious project taken on internally by someone who wants to build a kingdom. Secondly, they are too late if they are advertising now for these kinds of jobs
The "Commercial Investor seminar" on results day. Could this be a Rights Issue to raise the capital needed to buy C4 back out of public ownership? Lots of talk about the C4 takeover but would Carolyn ignore the best interests of shareholders yet again and just dilute existing shares to buy a broadcaster that generates minimal profit?
C4 makes tonnes of profit, however their remit is to reinvest in to UK independent production companies.
this should stop or rather will be slowed down if it gets taken over by a big co.
This is the spanner in the works as the result would be the closure of regional indie agencies and the Leeds HQ - this goes against the 'levelling up' mantra set out by the government, hence why if anyone buys them they would either have to stick to this arrangement.
Radiogent... "C4 makes tonnes of profit, however their remit is to reinvest in to UK independent production companies."
So true mate, CH4 isn't allowed to make a large profit, it invests everything back in to the channel. Only the ignorant wouldn't know this. I will be surprised if the government allows ITV to purchase CH4 because ITV would have 70% of the advertising market. If the purchase price is £500m, this would be a great acquisition for ITV at a very good price. No need for a RI, just a scare story by the ignorant fool. I'm looking forward with great interest to our Q3 results that should show a very strong recovery in advertising. Bring it on.
If ITV were to acquire CH4 I wouldn't be surprised to see CH4 bring back their 1980's soap opera Brookside for extra advertising revenue. Kerching!
No need to get so defensive Nige. Carolyn has shown she cares little for small shareholders. If the government came to her asking her to buy C4 off the public and create an ever enlarged media empire she would probably seize the opportunity. She could even negotiate a further pay rise for the increased responsibility. Small shareholders would foot the bill, but Carolyn would be suitably rewarded once she eventually leaves ITV with nice board positions or special advisor roles to government.
Just look at what happened to the shareholders at M&S when the board there decided to buy a controlling stake in Ocado. The markets turned on them and small investors got burnt.
I'm beginning to warm to Tom. No disrespect towards anyone at all but agree that small investors aren't even an afterthought to a power crazy over rewarded Dame we've been stuck with for far too long.
P
Has ITV ever done a rights issue before? Recent history?
Anything is possible at an unexpected investors seminar but I get that some of you would rather not discuss worst case scenarios here where Carolyn sells you all out in return for personal rewards for herself
But it's not an unexpected seminar, it was announced at our last results, stop trying to look for something that's not there. Your hatred towards Carolyn McCall is unhealthy to say the least, this is your only objective to this thread is to discredit her in anyway that you can. Shameful act by you BT, shameful.
And Nige only ever promotes ITV. Like a good paid ITV PR guy.
Healthy discussion as to how ITV might set about financing a C4 buyout could be constructive. I would not rule out collusion between government ministers and ITV board where deals are done to buy C4 at above the fair value in return for jobs and positions elsewhere once they leave ITV.
This government is all about kickbacks and deals with friends of friends. I would be very wary of any deal done with government which is handing out billions to its friends in legal contracts but ones done on very favourable terms.
Not sure why ITV would need to do a rights issue. ITV could afford to purchase Channel 4 without the need of one. Not all RI's are negative anyway, if they're done for a positive reason not for a negative one ie. to survive.
"And Nige only ever promotes ITV. Like a good paid ITV PR guy."
Not at all, I say negative things when it's merited. You on the other hand BT have an ulterior motive. Why do you hate Carolyn McCall so much? My guess is that you gambled your inheritance in a company that she was involved in, it went TomTit's up, hence the reason why you blame her for your financial mess. No doubt you won't answer this question.
"Just look at the AA, went for 35pps, almost criminal what happened there. But they were floated with huge debt, writing was on the wall."
Wow DW, that's some fall mate? £4 to 34p. I hope that you dodged that bullet.
M&S were trading well above £3. After the right issue was announced to buy up a controlling share of Ocado they fell by over £1 to the level they are back at now. £180. The nIge's of this world who hung in there were sold out and badly let down by the board. Somebody somewhere profited from the 600 million buyout.
DW, good to here that you made money, not lost it in AA. GL.
"hear"
Exactly that. Trying to save all my best mates here. The Dame is stiching you all up. Going to throw you under the bus. Mug you off. Small investors bring nothing to ITV. She wants to create a semi public/state owned media company with close links to the government and BBC. She has trashed the share price here and yet still people believe she has their best interests at heart.
I will be off enjoying the oil and gas party over the next few days. Record prices and bumper payments. Just got to dodge those windfall taxes but it feels great to be in a company making huge money whilst everyone else is having to go without dividends.
BT..... "I will be off enjoying the oil and gas party over the next few days. Record prices and bumper payments. Just got to dodge those windfall taxes but it feels great to be in a company making huge money whilst everyone else is having to go without dividends."
Not too bad profits only down 25%. PMSL
LONDON (Reuters) -Royal Dutch Shell (LON:RDSa) set a new target for its direct operational greenhouse gas emissions on Thursday, reporting third-quarter profit down 25% to $4.13 billion from the previous quarter, below expectations.
Nige, come and gloat over on the correct forum. People will soon put you right. Billions in debt paid off. Billions spend on renewables. If anything the BOD is being sensible keeping profits low and not splashing out on shareholders as government would then come down hard with a windfall tax.
Did you read 7 billion to be redistributed to shareholders next quarter from the sale of assets?