13-06-2023, 08:03 AM
A few things on that one:
A public company is always for sale, at the right price.
But the emphasis is “at the right price”. The directors, in recommending an offer, do so on the basis that it represents value for the shareholders.
Nor will ITV over-bid for the company just to “complete the map” of the Channel 3 licenses. Those licenses reduce in value every day, and there will come a point where steaming has overtaken linear to the extent that the license obligations do not outweigh the benefit of the 103 slot and must carry obligations on EPGs, and on that day ITV will hand back the licenses. That day isn’t here yet, however, but it means that any “completing the map” type pressure isn’t so much of a factor any more.
A public company is always for sale, at the right price.
But the emphasis is “at the right price”. The directors, in recommending an offer, do so on the basis that it represents value for the shareholders.
Nor will ITV over-bid for the company just to “complete the map” of the Channel 3 licenses. Those licenses reduce in value every day, and there will come a point where steaming has overtaken linear to the extent that the license obligations do not outweigh the benefit of the 103 slot and must carry obligations on EPGs, and on that day ITV will hand back the licenses. That day isn’t here yet, however, but it means that any “completing the map” type pressure isn’t so much of a factor any more.
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