Nine Entertainment Makes Hay Under the Southern Cross
No moat-rated Nine Entertainment's disposal of its 9.99% shareholding in Southern Cross Media is positive on several fronts.First, while the sale price of AUD 1.54 per share is at a 9% discount to Southern Cross' last closing price, it crystallises proceeds of AUD 118 million (before transaction costs) for Nine. Together with the AUD 2.5 million dividends recently received from the shareholding, the disposal represents a 37% gain on the initial AUD 88 million outlay--not bad for seven months' o...
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.
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