Step up is certainly not bad, income is the point of hybrids after all. And you know he will eventually (even the Great Depression eventually recovers) have to convert/exchange when interest rate comes back up.
But this all critically depends on SEVEN maintaining the cash reserve.
I don't mind him buying media assets at some point in the future, but come on, recession has not even started yet, WAN can be bought at a fraction of current price when the economic reality sinks in.
SEV Price at posting:
$5.61 Sentiment: None Disclosure: Not Held
