Content Media Share Discussion Threads

[345654] 14/6/2012 09:02

Delisting, not a surprise !

[345654] 12/6/2012 14:46

diesel

After Dcd abysmal results i have to use extreme caution on any stock in this sector, they never replied back to my emails, i was at the Agm with Simon and
they didnt want to know, pr is very poor !

[diesel] 11/6/2012 10:16

another deal that if anything like Collins Av, might be quite lucrative...

[fft] 11/5/2012 08:07

It was 26th July last year, so you may as well enter a monastery given how long you must remain quiet !

[djderry] 10/5/2012 22:13

Also,(at the end of last year !!),they sold BAMMA into the States on HdNet.Right,that's my cheerleading done until results' day!!

[djderry] 10/5/2012 21:59

'Republic of Doyle' renewed for a fourth season last month by CBC TV,Content sell it in six territories at present.

[diesel] 12/4/2012 15:30

fft...I really dont believe that this debt is a problem. There are many reason for the share price performance but the Allumination fisco is the main one, they seem to be treading carefully in rebuilding confidence...however a trading statement would help!

[fft] 12/4/2012 13:20

diesel,

a few years ago, refinancing wouldnt have been an issue, but in todays climate, the amount of debt relative to the size of the company (equity wise) is huge. We know that they havnt had any problems in repaying the interest and capital on schedule, but that hasnt stopped companies in the past couple of years having problems rolling over loans.

If JP Morgans policy on loans has changed - and i am sure ít will have in the last couple of years - then CMCP is not big enough to be a special case. It could be that they wont fund the entire amount and insist on a partial sale of the library to reduce the debt amount. Or maybe CMCP is building up Collins to be able to sell it to reduce debt quicker before the re-financing. We wont know until CMCP approach JPM, or maybe they have, and we as shareholders will only find out a lot later (could explain why directors arent putting there hands in there pockets at these prices).

But, if the re-financing was a certainty, the share price probably wouldnt be where it is now - unless there is another negative that we dont know about yet !

[diesel] 12/4/2012 12:59

fft...I have every confidence in their being able to refinance, this is a recurring debt that historically has been renewed without problems with JP Morgan. "Interest expenses have fallen in this half year compared to last year and are projected to continue to fall in the remainder of this financial year".
This also should be noted..."As at 31 March 2011, the Group's carried forward tax losses are estimated at £47 million."

[hatetrader2] 12/4/2012 10:45

fft

Saves me the question, wondering who was nibbling here :-))

[fft] 12/4/2012 10:44

There is definitely a seller of size around.

I have picked up 400k over the last couple of weeks as a punt, and it is still possible to buy 500k on-line in a single order.

However, if they can get the refinancing sorted out in 2013 (and that is the big thing for me), then it seems that they can go for sure / steady growth. A bit like... errr.... CFL - until they decided to reach for the stars and burnt out.

A lot of this comes down to whether management can be trusted to be sensible this time round, or are there ego's too big, and they would rather risk it all on red.

[hatetrader2] 11/4/2012 14:16

I think this is the sector to be in, seems to be a lot of small caps doing better
than most out there, looking around to see what else is out there, of course Dcd
but there is a lot of cheap stocks with "media" in their name but have very different business models.

[diesel] 11/4/2012 10:29

HT, yes debt is important and is far too high for a company of their size, I'm sure we will see another cut in debt this year, as they've been on a cheaper int rate since Nov 11.
But I'm glad to see that they are also growing the business albeit slowly.
If they post another year of increased revenues and profits and a decrease in debt(however small) we may see some recovery in the share price At these levels they are almost written off by the market.

[hatetrader2] 11/4/2012 08:15

Yes a reasonable deal but Dcd used to issue those deals on their website for
fun, like maybe 2-3 a month so dont get too excited, all that matters here is
how much they can cut debt, well for me it is.

[diesel] 10/4/2012 22:20

This looks like a good deal, I have to say I seem to be reading more that impresses me from this company than I have for a long time....

[hatetrader2] 03/4/2012 17:20

I still think it's very high risk with the debt and convertable debt.

What they need is to keep chipping away at the ordinary debt and then a investment player like Timeweave to do what they did at DCD and buy all the convertable debt and help transform the company.

I think the small cap media sector is the place to buy, there's quite a few attractive investments around, Cmcp purely because of the debt is the most
risky, but DCD was dead and buried at xmas at 1p bid and that rose 10 fold
so anything is possible.

[diesel] 03/4/2012 15:11

ht...if Collins keeps up it's growth rate in a year or two it's revenues will be higher than Contents. Funny you said mention £2m I reckon that is about the reduction this year.

[hatetrader2] 03/4/2012 14:42

A thriving business is one thing but in this case you need several business's
all throwing off cash as all that matters is debt reduction, i'd rather see
a 2 mil reduction in debt than 2 mil in profits after tax.

Somebody is reading this, 2 more buys and they are not mine.

[diesel] 03/4/2012 14:24

ht2, as for Ph4 no idea, although they have a considerable library and seem to be growing if looking at new product aquisitions. Collins Av is relatively new with production only out in the market for about a year but Content showed a revenue of £2mill for the first half of this year and I think the split is 50-50 so already they are turning over £4m for this half year and they are growing very fast, this is where there is a very promising story unfolding.

[hatetrader2] 03/4/2012 14:13

Diesel

Do you actually have any idea what Phase4 and Collins Av are worth, I keep reading they are doing well but they could be worth just 500k or 5 mil, had anybody managed to collect some numbers from their accounts to digest and then make a realistic valuation to Cfl's stakes, for a long term investor it would be good
if they were worth several million to be sold to eliminate a lot of debt.

[diesel] 03/4/2012 14:06

ht2.. you're right there usually is an update around this time, not this week I think as they're all in Cannes for Miptv...I've added some more recently as I am convinced that they are on the right track and this could move very significantly this year. As for debt, this will be down and in the long term they are holding a stake in Phase4 which is doing nicely and Collins Av is growing fast, when considering debt it is not just the library that has a carrying value.

[hatetrader2] 03/4/2012 13:51

Has anybody been watching the trades pattern here in the last week.

Everytime there is a sale or sales within seconds there is a similar buy almost like a buy order in the system.

Today 159k of sales at 8.38am followed by 100k by 1 min later.
30th March 2 x 50k sales then 100k buy 1 min later
29th was the same, 250k sale then 100k buy 1 min later

Anyway for a fraction of my DCD profits i've thrown 200k at it as there usually
is a trading update, debt is massive but you never know they might have trimmed
another 1-2 million off it like last time, just fancy a gamble.

[djderry] 26/3/2012 19:49

I'm sorry to hear about your loss RobSeaton.(I'll refrain from telling about my six figure loss on a co. that went into administration!).However,you bring up an interesting point.Content have accumulated tax losses (from the Winchester days) worth,according to Edison,of circa 6p a share,before one places any value on the rest of the co.

[robseaton] 26/3/2012 18:59

Well I'm sitting on a paper loss of about 95% from when I originally bought in in 2006. Although I'm still gutted about that, the paper loss is useful for CGT purposes and I wouldn't want to get rid of it all in one go - assuming the share price stays below 5p, I will be able to use my paper loss in drips each year to offset capital gains on other stocks I've made money on that would normally take me above the CGT threshold in a given tax year. I sold about 20,000 shares a year ago as I'd made a Capital Gain a few grand above the CGT limit and I was able to offload a few of these and hence crystalise a loss on them in order to offset the extra gain.