Entertainment One Share Discussion Threads

[tsmith2] 25/8/2016 10:59

Suspect management were looking for north of £3

[raffles the gentleman thug] 25/8/2016 10:58

Well with the shares back down here they are at a 30% discount to peers so happy to continue buying

[bared_bones] 25/8/2016 10:57

Indeed - bought a load more. It's clear that the ETO board thought that 236 was a piddly offer and co. worth a lot more.

[raffles the gentleman thug] 25/8/2016 10:52

Sounds like ETO wouldn't let em do due diligence - great buying opportunity down here imo

[raffles the gentleman thug] 25/8/2016 10:49

Further to the announcement made by ITV plc ("ITV") on 10th August 2016, ITV announces that it has withdrawn its proposal to acquire Entertainment One Ltd ("eOne").



ITV continues to believe in the strategic logic and potential benefits of acquiring eOne but has a clear view of the value of the business, recognising that this value would need to be verified by appropriate due diligence. It appears this value is different to the level at which the Board of eOne would currently engage in a more formal process.



ITV has a clear strategy to build a stronger, more diversified international business and will continue its disciplined approach to evaluating its healthy pipeline of potential investment opportunities.

[davr0s] 25/8/2016 10:49

There is on itv - they've withdrawn

[yf23_1] 25/8/2016 10:47

No RNS yet !

[neilsy] 24/8/2016 20:05

Mexico Announced now for both Ben and Holly and PJ masks.

[raffles the gentleman thug] 24/8/2016 08:10

Still no word from ETO on the AGM date - after today they really only have four trading days left to make an announcement before it is pushed into October, which will be without precedent.

[rivaldo] 24/8/2016 07:42

Good news:



"Global Renews Original Series ‘Private Eyes’
August 23, 2016

Global’s new series of the summer, Private Eyes is renewed for a second season. The series, from leading independent studio Entertainment One (eOne), has received an impressive 18 episode order, with production set to begin in Toronto this fall....

..“Private Eyes was an instant success for Global audiences and we are thrilled to welcome back a second season,” said Maria Hale, Senior Vice President, Global Entertainment and Content Acquisition, Corus...

..eOne controls international rights for the series."

[salpara111] 23/8/2016 09:22

I hope that they are able to get out an upbeat market update in the next couple of weeks.
It should not be too difficult given that comparatives on film will be easy given last years poor performance.
Hopefully they can really communicate the true potential of Peppa.

[rivaldo] 23/8/2016 08:37

Peppa Pig is adding 31 additional cities to the brand's first-ever U.S. tour:



"The Peppa Pig stage show is based on Entertainment One's (eOne) top-rated TV series which airs daily on Nick Jr. The U.S. tour has sold 200,000 tickets to date with some venues completely selling out."

"Peppa Pig has been steadily winning over children and families around the globe. The series is a top-rated show on Nick Jr. for kids ages 2-5 reaching 76 million households daily. The brand's extremely popular apps, toys and other consumer products, as well as its strong presence on social media, help make the Peppa Pig property a powerhouse worldwide."

[neilsy] 22/8/2016 18:23

Poor start for Life on the road although it did only cost eone £5.78m
The BFG still pulling in big numbers though.


"EONE

David Brent: Life On The Road might be this week’s highest new entry, but eOne will likely be disappointed with the opening.

The Office spin-off travelled to $1.9m (£1.46m) from its 506 sites, marking an average of $3,774 (£2,884). It’s Ricky Gervais’ solo directorial debut but The Invention Of Lying, co-directed with Matthew Robinson, opened with $2.3m (£1.74m) from 368 sites.

In terms of big screen outings for UK comedy characters, the film opened behind Absolutely Fabulous: The Movie ($5.3m/£4.04m from 615 sites) and Alan Partridge: Alpha Papa which took $2.8m (£2.18m) from 441 sites, although that included $974,000 (£744,000) in previews.

David Brent: Life On The Road will hope to buck the usual fast-burn trend for these kind of films and hold well this coming weekend, as well as enjoy decent midweek returns.

Also for eOne, The BFG boosted 11% as it marched to a $1.6m (£1.23m) fifth weekend from its 575 sites.

The Roald Dahl adaptation is now up to a superb $33.7m (£25.76m) and after adding $1.3m (£1m) over the past Mon-Thurs, will look to make the most of the final weeks of the school holiday. A £30m result is unlikely, but not yet an impossibility."

"hTTp://www.screendaily.com/news/finding-dory-reclaims-uk-box-office-lead-from-suicide-squad/5108624.article"

[raffles the gentleman thug] 22/8/2016 16:24

Actually thinking about it, in the eventuality of no deal, its probably in the interests of both parties to disclose - ETO because it highlights the value and ITV because they will want to argue prudence on their part.

[1gw] 22/8/2016 16:17

Raffles - I don't know. I suspect one side or the other would want the level to be known and might find a way to get it into the public domain even if it didn't get there through a formal agreed route such as an rns.

[joeall] 22/8/2016 16:11

I hope you are right 1gw,regarding major shareholders because either way both
sides would be the winners.

[raffles the gentleman thug] 22/8/2016 16:05

Certainly 1gw if I were the Canadian Pension Plan the prospect of equity upside in what are blatantly cheap ITV shares would be most attractive, and perhaps could swing a deal. I guess though ITV would want to avoid this and debt finance given how cheap borrowing costs are here.

Do you think if they make a final proposal and its again rejected that both companies would be obliged to tell us the level ?

[1gw] 22/8/2016 15:52

One more thought on this. There's nothing to say that the final bid has to be all-cash. The Arris-Pace deal I mentioned above was cash plus paper and I think you could make the argument that the cash element was essentially just the acquisition premium.

A deal that had a significant paper element for ITV would presumably be seen as less risky by ITV shareholders and management and if you are right that the deal would be welcomed by the market in terms of providing a boost to the ITV share price then this would make the deal look even better to ETO shareholders (i.e. and as happened with Pace, the post-announcement value of the deal to ETO shareholders would be higher, based on an increased ITV shareprice, than the pre-announcement deal based on the ITV shareprice immediately prior to announcement or the average price over some period running up to the announcement).

A cash plus paper deal might even be welcomed by major shareholders who would be keen to retain exposure to the merged company through a position in ITV.

[raffles the gentleman thug] 22/8/2016 14:49

Starting to look quite interesting again now - at 248p thats a long way from the supposed 280p ITV was reported as being prepared to pay.

[raffles the gentleman thug] 22/8/2016 14:26

Lets hope your hunch is right.

What I am struggling with is the view that anyone should pay over 300p a share, which seems to be predicated on not a lot more than where the shares were trading through 2014 and part of 2015. Fortunately I wasn't a shareholder at that time but I astounded that it managed to command such a high multiple given they hadn't yet got hold of Peppa, and had a much higher exposure to film distribution. The 'top ten' shareholder in the newspapers who allegedly owned it at that time, and that multiple, obviously made a major effort of judgement buying it in the first place, let alone remaining invested in it.

[1gw] 22/8/2016 14:02

To that extent, it seems quite analogous to Arris/Pace - both were big STB players with growing network businesses and provided they could overcome regulatory concerns there were fairly clearly big synergies to be had from the combination. Although there was much talk on the bulletin boards (after the deal was announced) of other potential bidders for Pace, none emerged publicly (either before or after the announcement) and the deal appears to have been concluded relatively quickly between first contact and the pre-AGM announcement. From talking to Pace management at the AGM and subsequently I got the impression that they believed the Arris deal was the obvious answer once they realised it might fly from a regulatory standpoint.

So relatively fresh from that experience it seems to me AL might look to force ITV and ETO management to negotiate seriously with a deadline created by the AGM date. Under the UK takeover code I don't think that would stop other bidders breaking cover subsequently to put their own offers forward.

But obviously that's all speculation and the apparent slight delay to the AGM announcement might be purely coincidental.

[raffles the gentleman thug] 22/8/2016 13:54

Interesting 1gw ... and certainly makes sense. I am inclined to agree with ITV in that there is significant strategic rationale for the deal, and its highly beneficial to the pretty much all the ETO assets as well as ITV. So I am inclined to believe they reach common ground over price. I wonder though, to what degree ETO is actually allowing due diligence to take place ?