Fraction of a fraction I dare say, a blocking stake only, nothing substantial and only when a dividend is paid, nothing sustainable, even Nine is facing revenue drops, same as the whole industry.
They need to either merge that market in the western market, or deregulate regional TV and allow duopolies.
WIN’s 14.9% share of Nine will return them somewhere around $21.5 million in dividends this year.
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Pay for a fraction of the affiliation fees.
Already is a duopoly market with Seven and WIN as the fully licenced telecasters.
And very doubtful if SCA want Mildura added to the Victorian AMD market, would cost them dollars to flush money down a toilet in effect.
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That “fraction” is the largest individual share holding and gains them a seat on the Nine Entertainment board.
Thought HSBC had around 30% making them the largest shareholder? Anyways.
They do, Institutional (HSBC) v individual (Birketu).
SCA are In uncertain times with the proposed takeover by ARN & Anchorage falling through but as reported a couple of days ago ARN are looking at more options for taking over SCA so I can’t see them being Interested In taking on a new TV licence.
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WIN’s equity stake is nearly 25% of Nine’s shares.
What’s your source for that? Nine’s 2023 annual report says 14.97%
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Semantics.
100%
And their current affiliation deal would be only for the existing Regional Victoria licence area they own in Victoria. The amalgamation of the separate Mildura TV1 and Regional Victoria TV1 licence areas would most likely be opposed by WIN and SEVEN as well on financial grounds if it went to court.
Not at all, HSBC is other people’s money, Birketu is the Gordon’s money and a seat at the board.
They may be representing multiple entities as well
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WIN themselves through their releases to the market. WIN has “control” over 15%, but their current equity interest in Nine is around 24%.
Nominees numbers are usually made up of many different owners, not always though. Any one owner with a substantial share ownership (at least 5%) is required to submit a notification informing the market of their position. In this instance, there are indeed multiple owners making up the HSBC Nominees total, that is why it is called “Nominees”, they are the bank’s client or clients.
Am I missing something? NEC owns the various NINE Network TV stations 100%, along with the various radio, print, on-line and other assets. The 14.9% owned by Birketu is their share of NEC, not NINE as such?
NEC is Nine. Whether people like it or not, WIN has a seat at the table with what happens with Nine.
Tyying not to get too much off topic and trying not to upset anyone, I will try and explain the difference with example, of course with the moderators permission,
I think we need to look it like this. Nine Entertainment Company consists of more that just the Nine Network itself. There are other companies within the group including the former Fairfax papers just as an example. NEC is the parent company of Nine
What you are saying would be like someone say insurance company Insurance Australia Group is NRMA, when in fact IAG is the parent and there are more than just NRMA in the group as.an example CGU is also in this group.
I think you need to understand I am only talking about Nine for the purposes of this discussion as that is the broadcaster and affiliate partner. Last I checked the others within NEC like Stan (and the former Fairfax assets they still retain) don’t own and broadcast stations… They are not relevant for the purposes of this discussion about broadcast and MDT is a broadcasting asset.
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