Hi Galba Yes I sold down late 2017 - just after Kerry Stokes...

Hi Galba

Yes I sold down late 2017 - just after Kerry Stokes sold to Bruce Gordon, something I hadn't expected so decided to reduce my holding and wait to see what eventuated. (Not too much so far....)

I still see value in PRT at these prices and have been buying again the last few months. I know that Jimmy keeps saying that it's a dying business but I believe that as long as the Governments Anti Siphoning Laws remain in place then FTA will continue to be profitable.

I really can't see the laws being changed any time soon. Imagine Foxtel for example, having all the rights to AFL and Cricket and forcing viewers to pay to watch. There would be a public outcry. It was bad enough a couple of weeks ago when Australia played South Africa and it could only be viewed on Foxtel.

https://www.theguardian.com/comment...r-tv-but-the-regulator-doesnt-seem-interested

PRT also has access to 30% of the Australian population and in my opinion on a percentage basis they haven't done too badly with the C7 affiliation agreement. The costs and risks to SWM are far greater than what PRT are being subjected to.

A lot comes down to what they can do to continue reducing costs going forward and build on the content provided to them from C7. I think that as long as they continue to concentrate on good quality local news and current affairs and just the content provided to them from C7 then they could do quite well.

The option to amalgamate and close down some of their studios is still a cost saving option - their studio site in Bunbury WA for example, is currently on the market for just under $2 million.