Summary Seven West Media Ltd - Company Profile and SWOT Analysis, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Seven West Media Limited (Seven West) is an integrated media company with presence in content production across broadcast television, publishing and digital. The company produces and operates comme...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
We lift our fair value estimate on Fairfax Media by 6% to AUD 0.75 per share. It reflects the implied value based on our new AUD 2.00 intrinsic assessment for the merged Nine-Fairfax entity, as per the merger terms of 0.3627 Nine shares plus AUD 0.025 cash dividend for each Fairfax share. This follows Fairfax shareholders' approval of the merger at the Nov. 19, 2018 Scheme Meeting, clearing the last hurdle before the merger is consummated on Dec. 7, 2018. The value uplift for the enlarged Nine-...
We lift our fair value estimate on Fairfax Media by 6% to AUD 0.75 per share. It reflects the implied value based on our new AUD 2.00 intrinsic assessment for the merged Nine-Fairfax entity, as per the merger terms of 0.3627 Nine shares plus AUD 0.025 cash dividend for each Fairfax share. This follows Fairfax shareholders' approval of the merger at the Nov. 19, 2018 Scheme Meeting, clearing the last hurdle before the merger is consummated on Dec. 7, 2018. The value uplift for the enlarged Nine-...
We lift our fair value estimate on Fairfax Media by 6% to AUD 0.75 per share. It reflects the implied value based on our new AUD 2.00 intrinsic assessment for the merged Nine-Fairfax entity, as per the merger terms of 0.3627 Nine shares plus AUD 0.025 cash dividend for each Fairfax share. This follows Fairfax shareholders' approval of the merger at the Nov. 19, 2018 Scheme Meeting, clearing the last hurdle before the merger is consummated on Dec. 7, 2018. The value uplift for the enlarged Nine-F...
We recommend Fairfax Media shareholders approve the proposal for Nine Entertainment to acquire all their shares, at a scheme meeting to be held on Nov. 19, 2018. This follows the approval of the deal by the competition regulator on Nov. 8, 2018--a decision we had expected. Shares in no-moat-rated Fairfax have retraced substantially in recent weeks, with initial market exuberance over the Nine merger since trumped by concerns over its (and especially 59.4%-owned Domain's) and Nine's near-term ear...
We recommend Fairfax Media shareholders approve the proposal for Nine Entertainment to acquire all their shares, at a scheme meeting to be held on Nov. 19, 2018. This follows the approval of the deal by the competition regulator on Nov. 8, 2018--a decision we had expected. Shares in no-moat-rated Fairfax have retraced substantially in recent weeks, with initial market exuberance over the Nine merger since trumped by concerns over its (and especially 59.4%-owned Domain's) and Nine's near-term ea...
We recommend Fairfax Media shareholders approve the proposal for Nine Entertainment to acquire all their shares, at a scheme meeting to be held on Nov. 19, 2018. This follows the approval of the deal by the competition regulator on Nov. 8, 2018--a decision we had expected. Shares in no-moat-rated Fairfax have retraced substantially in recent weeks, with initial market exuberance over the Nine merger since trumped by concerns over its (and especially 59.4%-owned Domain's) and Nine's near-term ear...
We cut our fair value estimate on Fairfax Media by 5% to AUD 0.71 per share. The revision is due to a 10% downgrade to our Domain fair value estimate to AUD 2.80 per share--a change which flows through to our Fairfax intrinsic assessment due to its 59.4% interest in the property classified and advertising entity. This follows Domain's surprisingly weak trading update for the first four months of fiscal 2019, suffering a sharp slowing in real estate turnover and an associated drop in new listing...
We cut our fair value estimate on Fairfax Media by 5% to AUD 0.71 per share. The revision is due to a 10% downgrade to our Domain fair value estimate to AUD 2.80 per share--a change which flows through to our Fairfax intrinsic assessment due to its 59.4% interest in the property classified and advertising entity. This follows Domain's surprisingly weak trading update for the first four months of fiscal 2019, suffering a sharp slowing in real estate turnover and an associated drop in new listing...
We cut our fair value estimate on Fairfax Media by 5% to AUD 0.71 per share. The revision is due to a 10% downgrade to our Domain fair value estimate to AUD 2.80 per share--a change which flows through to our Fairfax intrinsic assessment due to its 59.4% interest in the property classified and advertising entity. This follows Domain's surprisingly weak trading update for the first four months of fiscal 2019, suffering a sharp slowing in real estate turnover and an associated drop in new listing...
The independent financial analyst theScreener just lowered the general evaluation of FAIRFAX MEDIA LIMITED (AU), active in the Publishing industry. As regards its fundamental valuation, the title now shows 1 out of 4 stars while market behaviour can be considered moderately risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date September 18, 2018, the closing price was AUD ...
We raise our fair value estimate for Fairfax Media by 7% to AUD 0.75 per share, predominantly driven by upgrades in two areas. First, it reflects cost-driven lifts to our metropolitan publishing forecasts. While the division's 120 basis point rise in fiscal 2018 EBIT margin to 9.6% was broadly in line with expectations, we see the improvement continuing at a greater pace than previously anticipated, aided by cost-savings from the recently-struck print-sharing agreement with News Corporation. In...
Newspaper publishing in its traditional form is a sunset industry. Eyeballs are migrating to the digital arena where there are proliferating and lower- (or even zero-) cost choices, and advertisers are following suit. Against this negative structural backdrop, the fate of a legacy publisher depends on how it maintains audience in the ultracompetitive digital age, and whether it has the financial and the editorial resources to prevail in the longer term. Fairfax is slowly adapting to this new era...
We raise our fair value estimate for Fairfax Media by 7% to AUD 0.75 per share, predominantly driven by upgrades in two areas. First, it reflects cost-driven lifts to our metropolitan publishing forecasts. While the division's 120 basis point rise in fiscal 2018 EBIT margin to 9.6% was broadly in line with expectations, we see the improvement continuing at a greater pace than previously anticipated, aided by cost-savings from the recently-struck print-sharing agreement with News Corporation. In ...
We view Nine's merger proposal as a positive for shareholders of Fairfax. Based on the latest closing prices, the deal values no-moat-rated Fairfax at AUD 0.84 per share comprising 0.3627 Nine shares (at AUD 2.26) and AUD 0.025 cash. This is 20% above our AUD 0.70 fair value estimate for Fairfax, so little wonder the board will unanimously recommend the proposal to shareholders. The consideration is generous, struck on a forward EBITDA multiple of 8.3, or 7.0 if AUD 50 million cost-savings are f...
We view Nine's merger proposal as a positive for shareholders of Fairfax. Based on the latest closing prices, the deal values no-moat-rated Fairfax at AUD 0.84 per share comprising 0.3627 Nine shares (at AUD 2.26) and AUD 0.025 cash. This is 20% above our AUD 0.70 fair value estimate for Fairfax, so little wonder the board will unanimously recommend the proposal to shareholders. The consideration is generous, struck on a forward EBITDA multiple of 8.3, or 7.0 if AUD 50 million cost-savings are ...
We view Nine's merger proposal as a positive for shareholders of Fairfax. Based on the latest closing prices, the deal values no-moat-rated Fairfax at AUD 0.84 per share comprising 0.3627 Nine shares (at AUD 2.26) and AUD 0.025 cash. This is 20% above our AUD 0.70 fair value estimate for Fairfax, so little wonder the board will unanimously recommend the proposal to shareholders. The consideration is generous, struck on a forward EBITDA multiple of 8.3, or 7.0 if AUD 50 million cost-savings are f...
No-moat-rated Fairfax Media is often seen as a potential predator in the domestic media sector, in light of the recent ownership law relaxation. This is not surprising given Fairfax boasts one of the strongest balance sheets in the industry, sitting on wholly-owned entities' net cash of AUD 7 million. That is a sizable war chest with which to make a play for a TV asset, for instance, with the AUD 1 billion-plus value of its 60% shareholding in Domain a source of further ammunition. However, we h...
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