I have been doing some numbers on this stock and i think I've...

I have been doing some numbers on this stock and i think I've figured out the angle.
Goldman have a buy with target to $2.10 on a PER11 of 9x and yield of 4.5%. I like it.
The new digital channels will have more sport and sport Australians like, a bit like fox 501,502,503 and 504. This should mean additional revenue and given the company is owned approx 45% by the royal of media in this country one has to ask the question why?
Because they want to make money and ten is cheap with upside.
CVC which owns Nine will take a bath on about $2billion and is desparately trying to sell via IPO.
Nine is very well managed by Gyngell and given over 120% of nine's income goes to pay the interest on its debt one should take his/hers hat off to Gyngell for making the most out of what little investment income nine has for growth.
I like Ten because it's clean and cheap and has the upside potential where as the other two are run to the max with limited upside potential.
The trojan horse is Foxtel is my guess. A total guess but it kind of makes sense.
At 4.5% fully franked yield we are paid to wait for the upside.
Just some thoughts