NEC 3.10% $1.10 nine entertainment co. holdings limited

I think the figure is wrong. Macquarie Media is not fully owned...

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  1. 247 Posts.
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    I think the figure is wrong. Macquarie Media is not fully owned too. 


    280 + 274 - 50 (outsider share of domain) - 14 (outside share of Macquarie Media) = 490 mil EBITDA


    About 4-5 times of EBITDA. That's comparable SWM. But if they can realise the cost synergy and cross promotion opportunity. It is much more attractive than SWM imho


    The wild card is really Stan. Every one mill subscriber incremental growth almost equate to 100 mil EBITDA (provide no blowout in cost or fix cost) and therefore 500 mil market cap value (based on current valuation). 

 
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$1.10
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