Nine Makes a Ninja Move on Fairfax
We are ambivalent about Nine Entertainment's pursuit of Fairfax. The rationale for the AUD 2.3 billion acquisition may be strategically sound at this juncture, with the impressive combined scale across all media platforms likely to enhance no-moat-rated Nine's positioning with audience and advertisers. Furthermore, management should be commended for doing so by crystallising the strong recent gains in Nine's shares which have surged more than 60% in 2018 to-date, and are trading at a substantial...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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