With Comcast and Fox deep in a bidding war, is Sky worth the price tag? Russ Mould, investment director at AJ Bell, says YES. Economic theory dictates that competition for an asset will set that asset’s price, and the battle between Fox and Disney on one side and Comcast on the other means that a further knock-out bid for Sky has to be a possibility for strategic and financial reasons. Sky’s strong competitive position, based on its control of the prime content that is loved by its loyal customers, gives it pricing power. Pricing power means good margins and strong cash flow. At £15.30 a share, Sky has a market cap of £26.3bn. It has £7.5bn in net debt for an all-in purchase price of £33.8bn, which compares to forecast annual free cash flow of some £1.5bn to £1.6bn a year, factoring in lower football costs. That implies a free cash flow yield of 4.7 per cent, which beats cash in the bank, the rate offered by 10-year UK Gilts or US Treasuries, … [Read more...] about DEBATE: With Comcast and Fox deep in a bidding war, is Sky worth the price tag?
0 Have your say If Brendan Rodgers can lead Celtic to the increasingly lucrative group stage of the Champions League for a third consecutive year, then the record £9 million fee he sanctioned for the purchase of Odsonne Edouard this summer will represent exceptionally sound business. The 20-year-old French striker started life as a permanent Celtic signing in the best way possible, setting Rodgers’ side on their way to an ultimately comfortable 3-0 win over Armenian champions Alashkert in Yerevan.Passage to the second of the four qualifying rounds Celtic must negotiate this season is now little more than a formality in next Wednesday’s second leg in Glasgow.• READ MORE - Brendan Rodgers hails Celtic players after ‘pleasing’ win in Yerevan heatEdouard’s first European goal on the brink of half-time settled any Celtic nerves as they delivered an assured display to take command of what had been regarded as a potentially … [Read more...] about Stephen Halliday: Edouard showing no signs of hefty price tag weighing him down
It’s coming home, it’s coming home, it’s coming - Cook’s tray’s coming home... Or is it? An appeal is under way to bring a tea tray with big Captain Cook connections back from Australia to the Boro. But it could cost as much as £34,500 to do so. The 1790s tray is a rendering, painted by Edward Bird RA, of George Carter’s 1781 painting of Cook’s death scene. An inscription suggests it once belonged to the private Marton Hall collection of industrialist Henry Bolckow, one of Middlesbrough’s founding fathers. Bringing it back to Teesside, therefore, would definitely be a case of it coming home. But as the Captain Cook Birthplace Trust admits, first there’s the little matter of meeting the whopping price tag. Trust member Robert Nichols said: “We have to raise over £34,000 in less than six months so it really is a big ask.” But Rob says it would bring home a fascinating link with Middlesbrough’s past. Trust … [Read more...] about £34k price tag to bring Captain Cook tray from Oz to the Boro
A price tag of £130,000 has been put on a proposed statue to commemorate Doncaster's proud mining heritage. That is the figure which has been placed on the artwork which would be paid for by crowdfunding, with a Free Press campaign backing the fundraising for the monument, which will built in Waterdale.An exhibition, called a Rich Seam, is due to open on Monday to show the developing ideas of the artist who is creating the statue, Laurence Edwards. He been commissioned to design an iconic piece of art drawing on the stories of the borough's former miners and their families.The proposed art piece will celebrate Doncaster’s proud mining history and to help shape his designs, Laurence has met with hundreds of local people. He has also sculpted portraits of people from mining communities in wax while they have told their stories. These will be cast in bronze and be a part of the bronze mining statue.The exhibition will include a 10ft mock-up of the proposed design and some of … [Read more...] about Price tag revealed for monument to Doncaster’s mining history
A new report has revealed that bringing Calderdale’s roads up to scratch could cost more than £36 million. Around four per cent of Calderdale’s “A” roads should be considered for maintenance, councillors have been told, at a cost of £1.5 million.READ MORE: Major road closures planned in Calderdale for repair workThe cost of tackling unclassified roads would be more problematic, carrying a £35 million price tag.Members of Calderdale Council’s Strategy and Performance Scrutiny Board were told the condition of “A” roads needing repair was within its target of five per cent and has been so for the last five years.The condition of Calderdale’s roads is one of five of 15 annual super key performance indicators which the council considers annually.READ MORE: Salterhebble Roadworks misery will continue for another six monthsIn relation to the other 20 boroughs across the north, this is middle-ranking with three other boroughs the … [Read more...] about £36m price tag to bring Calderdale’s roads up to scratch