Member Info for Rock8

If they go into Chapter 11 the Cineplex case/fine etc disappears.
So must be an incentive although Mooky also loses a lot of money.
Share price drops to what 1 to 2p?
Just guessing but it certainly won’t be up hear.
Won’t be suspended so loads of volatility for a long time.
IMHO

The Chinese moved in post pandemic during 2020 and they must have had a plan for this very eventuality.
IMHO

Correct.
Sadly they will also be selling the best asset and be left with the less profitable bits but after some closures and a debt/share write-off the remaining business will probably survive likely still under Mooky’s management unless of course he goes with the new Regal Chinese owners?

IMHO Cineworld’s Chinese investors will buy the Regal Chain.
They are in prime position as an existing shareholder to do so.
Likely this was always their plan?
Time will tell of course.

Chapter 11 only applies/protects the Regal US chain.
As I said yesterday it only really helps IMHO if they then sell the US business to provide funds to pacify debtors and help the rest of the UK/European business survive. Sadly it will also involve share dilution but UK shareholders should be left with something?
Share suspension extremely unlikely at this point in my view as it’s not insolvent yet.

Chapter 11 is only applicable to the US part of the business and sadly there is no UK equivalent.
It maybe possible that they could go into Chapter 11 in the US and attempt to sell the US business? - Buying them more time?
Just a thought

That’s never going to happen!
He is many things but not a complete idiot!

Not a forced seller.
They chose to sell THG rather than something else.
They clearly believed THG offered a lower return.
It’s appalling news as unlike shorters they won’t be forced to buy back at some point.
Genuine selling always much worse than shorts adding.

The bar to owning a UK public service broadcaster is not very high at all!
Remember Richard Desmond passed it when he still owned his porn empire! Channel 5.
The bar it actually frighteningly low

He should be able to pull out of this dive but it’s going to be tough going given the macro economic outlook and no ability for further growth for 18- 24 months or so.
I might buy again on the next fall but In the mean time given as your hostility I will leave you to it!

Not underwater at all.
I have work in the industry for many years in a senior capacity.
I bought recently after profit warning and sold on announcement of new appointments last week.
The appointments were always the easy bit.
Now the real work to climb back begins.
Martin Sorrell helped build the original Saatchi & Saatchi Group (as CFO) then built WPP and now SFOR using the same model - Each time once control is lost it takes time to regain and sometimes he can’t?
His model relies on access to cheap finance (needs to be listed) and fast serial growth through acquisitions using mostly the issuing of new shares.
Too many bought into share this first in April and again last month thinking this was a quick recovery situation - It’s not although the first part was.
Nothing new under the sun.

My guess is ITV will go to either Apple or Amazon?
UK is a huge market for both and ITVs production business is also huge in the USA.
Apple is my favourite.
But just IMHO.

Sorry relinquished control of Discovery Communications that owned Discovery Networks.
He still has a huge stake in WB Discovery but the original idea of merged VM with ITV was history once VM merged with o2 after failing to merge with Vodafone.
The tectonic plates have moved away from Telecoms and Media in one organisation.
Although WB Discovery and Comcast still have a foot in both camps for historical reasons.
So things could change again?

Agreed John Malone is moving away from broadcasting even relinquishing his controlling position at Discovery Networks when they merged with Warner Bros.
He will be an ITV seller at the right price.
At least he is now unlikely to be an obstacle.
Interesting times IMHO.

Yes it’s a cyclical business but there is hope that the weakness in digital due to Privacy changes, the move back to brand advertising by the big advertisers, the move away from SMEs in the downturn and move to cheaper subscription services might aid the traditional broadcasters in this downturn.
There is already increasing evidence that all traditionally advertising is less closely linked to GDP for all the reasons mentioned above.
So never say never.

Also absolutely no chance anyone would pay him the sort of multiple this used to enjoy.
After all its a loss making, previously high growth company in trouble during an inflationary downturn.
Martin will battle on!
IMHO - He has no choice.

If only he showed the same respect to his small shareholders rather than treating them as ‘low life’.

He won’t sell.
He will battle it out.
IMHO

Martin Sorrell has a Golden Share so it’s his call.

Sir Martin Sorrell 'has put plans for takeovers on ice' Https://thismon.ee/a/11087163

Not a surprise really as it’s going to take time to fix the issues and re-establish credibility.
Finding the new management to start implementing the changes was always the easy bit.