Will 2017 Media Reform Lead to Another 'Urge-to-Merge' Frenzy?
We retain our fair value estimates for Fairfax, Nine, News Corporation, Seven West Media and Southern Cross Media, ahead of the likely parliamentary green-light for the Government's Broadcast and Content Reform Package.Contrary to press hyperbole, the proposed relaxation of media ownership restrictions is neither historic nor significant. There was a similar reform back in 2006—one that triggered a flurry of expensive corporate activities and culminated in average value destruction of over 50% ...
Seven West Media has four reportable segments: Television, which is engaged in the production and operation of commercial television programming and stations; Newspapers, which is comprised of the publishers of newspapers and insert magazines in Western Australia, Quokka (weekly classified advertising publication), Colourpress, Digital publishing and West Australian Publishers; Pacific -which is comprised of the publishers of magazines in print and digital editions as well as social and e-commerce business; as well as Other Business and New Ventures, which is made up of equity accounted investees; Radio (radio stations broadcasting in regional areas of Western Australia) and RED Live..
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.
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