Member Info for dallo

The buyback rather than a special dividend is the suggested route for the surplus
from Liberum but it amounts to the same thing for shareholders in terms of P/E ratio
and EPS
One way or the other the Share Price will rise by 10p or more all things being equal
Next week is going to be interesting and watch the weekend press
Drama ahead

Nige
Like myself you have been a patient investor and now the
news is out from Liberum that ITV COULD RAISE £750-£ 1BILLION from sale
of its SDN business and the Southbank site has been sold for over £200m
The proceeds of the sales could go to reducing debt and maybe buying STV
The rest( £500m)could go to shareholders with the buyback being 4% accretive to earnings in 2019
The special dividend could amount to over 10p a share
ITV IS ALSO A TARGET FOR THE MAJOR media conglomerates as the content wars hot up
Any takeover price is now north of £2
I never lost faith with my position in ITV which is the biggest play I have
made in the Stock Market in 40 years
I think we will be rewarded imho

Tender Offer is bog standard refinancing
by ITV increasing term and lowering
interest costs and borrowing in Euros
to hedge against possible Sterling appreciation
Standard corporate financing in the low interest
environment ...euro interest rates down today
Smart move particularly if Brexit is sorted

I have said it many times
the brand name ITV or should I say
iTV could be priceless to Apple
not to mention the 40,000 hours
of digitalised content
One of many possible suitors imho

Nige
Of course I meant £200 million for the Southbank
Property not £200

A few stalwarts here have kept
the faith despite the share price crash
The fundamentals pointed to an irrational
degree of pessimism by the market brought
about by Brexit,the advertising cycle and
the dumping of UK assets by International
investors
The % of direct TV advertising revenues is expected to drop to below 40% of total over the next 2 years and ITV Studios fast becoming
the most valuable part of the group with
a standalone valuation of £ 5/6 billion
Throw in Britbox, the Hub, direct to customer
Marketing and the value of it'so large franchises such as Love Island, I am a celebrity...., the Chase and loads of other International shows and you see why ITV is such an attractive takeover
target.
Look what's happening with the European
TV/ Media consolidation wars at the moment
and the scramble for content by the mega
Streamers.
I am very comfortable with ITV and exciting times
ahead imho
PS
The sale of the Southbank site for c £200 is expected soon and shouldreduce debt to EBIDTA ratio to1-1 which is nothing

Sentiment now turning positive
Small daily SP increases are encouraging
and may now be reaching new floor
of c120 p pending Brexit resolution
Increased takeover chatter adding to
momentum and the Rugby World Cup
in a few weeks will be a boost too.
Feeling much better about ITV despite
Brexit madness

Fully agree
This will move higher tomorrow imho
Something is afoot

970,000 on the bid at 9.80p
Interesting
Maybe we will get some positive news
at last

ITV whose shares are down 44% over the
past year also looks vulnerable to a takeover
says the Sunday Times in its Business section
today.

Ent One takeover matrix based on
3.5 times Revenues,16.6 times EBIDTA, and
a P/E Ratio of 34
Take away premium for Peppa Pig and adjust
for debt of £500 m and you can still see how
undervalued ITV is at present
The ITV Studios are on a forward EBIDTA of
c € 280m alone with 40,000 hours of content
× 17 equals a value of c£5 billion
Something has to give soon
DYOR

Based on EntOne buyout price of c17 times foward EBIDTA , ITV as a whole would be valued well north of £10 billion
While not like for like ITV still should command a buyout price of c £2 when compared to EntOne
given its Studios and content library imho
Now likely that ITV is next up and it could
be soon imho

5eights
Confirms my valuation of ITV Studios
at £6 billion
ITV TO SOAR TOMORROW

Nige
You are welcome
Tomorrow will be interesting as to whether
this rally has legs or not

The volumes to date of just over 5.2 million shares do not suggest
predatory activity but still nice to see rise today which I suspect
may be down to Brexit optimism .
Tomorrow's price action in advance of the Bank Holiday will be illuminating
perhaps imho

European Media giants Vivendi of France and Mediaset of Italy in a battle
to create pan European TV and content empire to combat US streamers.
Vivendi owns 30% of Mediaset but Mediaset wants to consolidate their own European
holdings with a merger with separately quoted Mediaset Espana .
Mediaset has taken a 10% holding in Germany's biggest broadcaster ProSieben
Both are rumoured to be eying up Europe's 2nd largest commercial broadcaster ITV .
The battle between Vivendi owned by the Bollore family and Mediaset owned
by the Berlusconi family is intensifying and I suspect the biggest prize is ITV.
This could get very interesting particularly if Brexit is sorted and don't rule
out Liberty and the US media giants.
Hold on to your hats.
Source
Todays Business section --The Daily Telegraph

115p
Hmmm

Possible Brexit breakthrough in Europe
If so ITV will hit 140p

Nice rally underway today
Or dare I say could there be something
else afoot dear Watson!

Ofcom to insist that the UK Government
introduce new laws to ensure that Britbox
is easy to find on all Smart TVs in the UK
This will entail a designated button on the
remote control or on start up screen
This is major benefit for Britbox imho

Source
Daily Telegraph
19th July 2019