Good Value

Although the media industry is under strain PRT appears very good value:

1) Currently paying a 10% fully franked dividend based on a payout ratio of 50% of NPAT.

2) The probable double dissolution election this July will see a significant leap in advertising revenue through to the election.

3) The outcome of the election will more than likely see the Turnbull Government re-elected allowing the passing of their proposed changes to the media laws which will unlock value in PRT.

4) PRT have the Olympics in their networks, again this should see significant advertising revenue generated.

The share price appears to be bouncing along a bottom at the moment - cannot see much downside but the factors above should provide nice upside.