Share buy back restarts???, page-13

The market is understandably reacting to bad news - loss of market share and the expected further loss of market share due to not having the Olympic games coverage combined with structural issues for the industry in the form of competing channels for delivery of traditional content.

FWIW, I view the former as a short term issue that will eventually go away - market share numbers between the leading broadcasters has historically fluctuated and the Olympic games is only for a few weeks. The structural headwinds facing the industry are not going to go away. However, at some stage I believe there will be regulatory reform which will create opportunities for NEC either as acquiror or as acquiree. Unfortunately, the question of when this will happen is unanswerable.

In the mean time, I expect that cash flow and balance sheet strength will continue to support the payment of large dividends and the ongoing share buyback should resume after the results announcement (as HotCopter points out, they should not be conducting a buyback during a black out period).

Really tempted to buy more at these price levels.