Report
Brian Han
EUR 101.80 For Business Accounts Only

Financial strength arms Nine Entertainment with ammunition to combat structural headwinds.

In the ongoing soap opera that is the sale of Ten Network, we do not underestimate the determination of Bruce Gordon and Lachlan Murdoch to gain control of the third-ranked free-to-air TV broadcaster. However, the odds of CBS Corporation taking ownership of Ten appear to be shortening by the day.
In our view, potential implications of a CBS-controlled Ten are likely to be negative for no-moat-rated Nine Entertainment and Seven West Media.
CBS, often referred to as the Eye Network in the U.S., ha...
Underlying
Nine Entertainment Co. Holdings Limited

Nine Entertainment Co. Holdings is engaged in the television broadcasting and program production and digital, internet, subscription television, and other media sectors. Co. manages its business based on two reportable segments: television, which includes free to air television activities; and digital, which includes its Nine Digital Pty Limited subsidiary and other digital activities.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Brian Han

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