I agree stay well away from TEN, MC at 90mil seems to be extremely expensive. How can they turn around the results and return to profit? The Free to Air network is redundant, the market shrinks everyday. I just built a new house and I didn't want to devalue it by sticking an ugly antenna on the roof. (I'll pass on the bird poo)
I think free to air is very naive that they can be a stand alone network and survive in today's tech savvy market. They had the biggest piece of the pie but their reluctance to transition into online media will be a death by their own sword.
The dinosaur market, their only hope is that the government will stump the bill for a few years, after all the pensioners will still need free to air.
I imagine one day the Free to Air network will be a classic text book example of businesses that have collapsed by failing to evolve. Digital online media (DOM) is too powerful too ignore, they killed the video store and now they will kill Free to Air, newspapers and any other type of non digital online media.
So buying at these low levels may seem attractive, but this may be the case of buying a busted business in a broken industry.
TEN Price at posting:
27.0¢ Sentiment: Sell Disclosure: Not Held
