There is no reason in pursuing a deal at 23c when it is clearly worth more on the strength of its current ratings i.e. Big Bash and Jungle.
It spiked last year on just Big Bash summer ratings but can't this year because of an artificial ceiling at 23c. Remove the ceiling and the market would be rating it much higher.
Close the auction and get on with business. We do not need Foxtel/Discovery on their terms. We have FTA rights that they need to negotiate with an entity that has Grand Final and Brownlow rights.
Call the auction off, re-negotiate the debt and trade on merit.
A $1 per share is not unreasonable in this scenario - IMHO.
TEN Price at posting:
21.0¢ Sentiment: Hold Disclosure: Held
