Potential Licence Fee Kill is Not a Licence to Thrill Television Networks
The potential reduction (or even abolition) of television licence fees may temporarily lift free-to-air television broadcasters' earnings. However, we do not see the positive impact being sustained longer term to impact their fair value estimates.It is true that Australia's television licence impost is relatively high. Prior to the 2016 reduction, the 4.5% (of gross television revenue) imposed on the broadcasters dwarfed those in New Zealand, the United Kingdom and the United States. Even the c...
Ten Network Holdings is an Australian entertainment and news content company. Co.'s principal activity is the investment in The Ten Group Pty Limited and controlled entities, whose principal activities are the operation of commmercial television licenses in Sydney, Melbourne, Brisbane, Adelaide and Perth, and a national online media platform.
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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