Member Info for bald_eagle

BigE, I don't really understand your scenario A. If you convert 49% of an asset into cash, whilst still retaining 51%, your 'worth' isn't 100% of the asset plus the cash. It is the value of the 51% plus the cash.....or have I missed something.....perhaps I need a better acccountant?!

"... the job looks good ."
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Yes it's a big job well done.

Market seems quite buoyant today....any reason why?

The market has probably taken the news as just talk and will wait to see if an offer is made. Don't interested parties usually ask to see the books?.... so we don't really know if this is serious or just bar room bravado.
Personally I believe ITV will string this along knowing that the publicity cannot hurt their cause...I doubt they have any intention of selling. Now if Elon offered £50bn then that would be different!

".....selling is the only way to realise the true value - either sell ITV studios or sell the whole company"
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Some companies realise shareholder value without having to sell part or all of the business.
Indeed some parts of a business are fundamental to the worth of other parts of the business. Would the rest of ITV be as valuable without access to Studio content? (I think Aviduser was suggesting as much).

$1bn for the Studioi business would be giving it away....that would be the dumbest thing ITV management could do. It would be like me selling my 1969 Daytona for £10,000 to a bloke down the pub who was offering cash!
PS Corgi do make quite realistic models

"....so sell it for 3B realise the value for the shareholders then when the sale goes through cash your shares in for a huge profit and move on"
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Carrington, I'm not sure I understand your logic. If they sell their main asset for roughly the current value of the company, then the remaining business would be worth less (it could be significantly less). So I don't think it would necessarily be the 'huge profit' you suggested.
It could be that one is left with a company - without the Studio business - that isn't very attractive.

"But I CAN see a path to a carve out...."
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Aviduser, of course any deal can be made. But is it in the interests of shareholders?
Daytraders would love it, long term holders would 'probably' come to regret it (as you suggested).
I remember Vodafone sold Verizon for a bundle of cash, gave some back to shareholders & 'invested' the rest in growth....which in hindsight was 'probably' a mistake, because US Verizon has gone from strength to strength & the investments made by Vodafone management have been arguably a series of underachievements.
Hence, before you sell the family silver have a good plan for what you are gonna do with the money....invest in the Metaverse or throw it all into ITVX?!
A realistic offer for Studio business would have to be multiples of current SP (IMO), otherwise it is just giving it away. I can live with that because the remainder of ITV would just be a bonus.

"Well we all knew that the studio business was up for sale..."
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Yes & No. I didn't believe the Studio's was 'seriously' up for sale. I thought it was an attempt to highlight the 'hidden' (in plain sight) worth within the business. And I still don't believe they will actually sell it. If there is an offer - even a sensible offer - they will probably say it significantly undervalues the true worth of the Studio business & not even put it to a shareholders. Market would note the worth of the Studio business & SP would rise...win, win scenario.
ITV without the Studio business could be a dead duck....the sale of the crown jewels.

It will probably highlight the value within ITV. Whether that is sustainable without an offer for the STudio business is another matter. Almost regardless ITVX has to deliver and profits have to follow. But the UK economy is also part of the equation.
But it does show that ITV could get 'interesting' very quickly.

Interesting analysis. Lets hope Wood group can deliver.
I'm not sure about recent history but I always thought they were a good engineering company. But down in the dumps at the moment.

I don't watch a lot of ITV, so I haven't noticed. I expect younger viewers don't give it a second thought....only us old gits!

Wasn't Nigel promoted from CFO?....I guess they want someone from outside with a different perspective. I think George Santos may be looking for a new role fairly soon, I'm sure his CV has the required experience!

".... a good team below the CEO position IMO"
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Which does beg the question, why haven't they done any succession planning?
He isn't a young man & they must have known this day was coming. Either prepare an internal candidate or start interviewing people ready for a seamless handover.

There have been some big names in retail going to the wall recently. I doubt any company is too big to fail. If DOCS can sort out the warehousing problem(s) - which smacks of poor management IMO - and the market for their boots remains profitable then perhaps the company can do well. Unfortunately the recent news will have knocked confidence in the management at DOCS. They have to start earning their bonuses & run the business better....simples!

Mary, I must have missed that show....sort of 'Who wants to be a millionaire' on steroids! What will they come up with next?!

"VIDAA’s R&D and engineering teams are based in Qingdao, China with satellite offices in Wuhan and Shenzhen."

I'm not sure if that is flavour of the month.

How much is the $25m stake in Vidaa as a percentage of the business?

Tom, perhaps the news about the success of ITVX has leaked, hence why the move to mid 80's is earlier than you predicted!
Personally I think ITV SP is very hard to predict. A bad ITVX update would worry people, a good update would bolster the shares. Then the general market could go up or down and take ITV with it. Very difficult to call IMO.

".....some would say "a limitless win" perhaps"
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Mary, I have no idea what you mean by a 'limitless win'.....is that similar to 'the gift that keeps on giving'?
PS 'Don't count your chickens until the fox has stopped guarding the henhouse'!