Entertainment One Share Discussion Threads

[tini5] 13/10/2016 16:51

Entertainment One Collects 3 Wins at the 2016 GMA Dove Awards

hxxp://www.broadwayworld.com/nashville/article/Entertainment-One-Collects-3-Wins-at-the-2016-GMA-Dove-Awards-20161012

[tini5] 13/10/2016 16:50

Sky Living Acquires Hayley Atwell ABC Drama ‘Conviction217; In Deal With Entertainment One

hxxp://www.tvwise.co.uk/2016/10/sky-living-acquires-hayley-atwell-abc-drama-conviction-deal-entertainment-one/

[raffles the gentleman thug] 13/10/2016 16:17

Not sure who felt compelled to bail out today in quite the most uncareful manner they could, but for me it was an opportunity to buy a stack load

[raffles the gentleman thug] 12/10/2016 13:02

jamesjjj ... re your post yesterday, a cash generative company like ITV should run some debt - thats healthy, and they are often waffling about wishing to raise their leverage to 1.5x ebitda - so I can't see why they would have been put off by ETO debt, especially as £200m of it is production finance and will secure future growth of the content library. Also ITV would have been able to restructure the ETO debt and probably reduce interest payments almost in half. Re the content library - absolutely they could have leveraged it big time... as my previous comment even at 300p it would have been wonderfully accretive and that was before any leveraging of the content library - so really mystery why its not happening ...

[steptoes yard] 12/10/2016 13:01

Looking forward to Crozier on the Train in the new year...to spend more time with his family

[foxeye2] 12/10/2016 10:41

Just because you may disagree with the comments made by another poster, is it really necessary to use such language or make such comments. I thought and hoped the purpose of Boards was to share information and meaningful ideas, not resort to childish name calling.

[rivaldo] 11/10/2016 23:45

Cheers Neilsy. A bumper year for the Film division then....

[neilsy] 11/10/2016 18:50

The amblin partners deal is really starting to pay off with BFG now past £30m in the UK, girl on the train will probably reach £20m matching the entire year of films in 2015.

"EONE

The Girl On The Train has derailed Bridget Jones’s Baby’s chances of a fourth week as the UK’s number one.

eOne’s adaptation arrived in top spot thanks to a terrific $8.6m (£6.96m) debut, including $2.2m (£1.78m) in previews, from its 612 sites. It’s worth noting that its Fri-Sun tally of $6.4m (£5.17m) would have also seen it land top spot.

The result means the film is already director Tate Taylor’s best-ever UK result, and is ahead of Gone Girl’s $5.1m (£4.1m) debut, including $641,000 (£516,509) in previews, from 549 sites. However, that film was a higher certificate at 18.

Gone Girl went on a lengthy run to reach $27.8m (£22.4m) at the UK box office, and The Girl On The Train will be hoping for a similarly sustained run.

Also for eOne, The BFG marched past the £30m mark with a $85,000 (£68,835) weekend taking it to $36.9m (£30.05m).

Supersonic added $49,000 (£39,810) from 60 sites on its second weekend for $728,000 (£592,174) to date."

www.screendaily.com/news/the-girl-on-the-train-arrives-in-top-spot-at-uk-box-office/5110215.article?blocktitle=LATEST-UK-BOX-OFFICE-NEWS&;contentID=40073

[jamesjjj] 11/10/2016 18:26

Raffles I totaly agree ETO would have been good for ITV. For the record I am long on ITV and ETO having bought ETO at a higher price and keeping faith right through the rights issue and averaging down to a point that I am currently good on ETO but have no intention of selling as I believe that there is more to come. With regard to ITV bidding on ETO, nothwithstanding the fact that ETO carries some debt ITV still saw huge potential in their content. Does that maybe say something about ETO prospectives?

[raffles the gentleman thug] 11/10/2016 13:06

hi jamesjjj - thx for your comment. I was more making the comment that the healthy pipeline of acquisitions that ITV alluded to in its ETO RNS is simply a lot more expensive that it was back in June, which I am sure is a position they themselves don't welcome.

As for their own dollar or Euro sensitivities I don't actually the full breakdown of ITV Studios revenues, and nor do I know the debt structure they have, which is important because like ETO they may well be partly internally hedged.

But in any event its a shame they didn't buy ETO, since it would have been very beneficial to shareholders in both entities, and ETO is still looking exceeding cheap

[rivaldo] 11/10/2016 12:17

ETO are very happy with Girl on the Train's weekend opening, with £6.9m already - the entire film's budget was only $45m, so with $24m banked in the US's opening weekend too this looks like being a hit:



"Entertainment One Celebrates Tate Taylor’s The Girl On The Train as it Pulls into the UK Box Office at Number One

Entertainment One (eOne) is delighted to announce that THE GIRL ON THE TRAIN is number 1 at the UK box office grossing £6.9 million over its opening weekend including previews.

This is a higher UK opening than the 3 biggest North American October releases of recent years: GRAVITY, THE MARTIAN and GONE GIRL.

THE GIRL ON THE TRAIN also marks the biggest eOne opening for a non-sequel.

Alex Hamilton, Managing Director Film EMEA says “This is a spectacular start! To beat such big movies on our opening weekend shows we’re travelling in very exalted company - audiences in the UK and Ireland have clearly embraced the film, and The Girl on the Train film adaptation looks set to replicate the runaway success of its great source material.""

[jamesjjj] 10/10/2016 20:18

Raffles You say "whereas I assume anything else ITV might wish to buy in their health acquisition pipeline is going to be Euro or dollar denominated and hence a good 15% to 20% more expensive than a couple of months ago."
That may not be entirely accurate as ITV revenue is 50% from abroad and therefore if it is receiving some of its income in dollars or euros it could pay out part an acquisition in dollars or euros rather than use sterling to convert from. Although in principle you are right

[fruitninja84] 10/10/2016 12:50

Cant help but ponder if 250p would make a better floor then a ceiling here? I just trade in and out but i am most defiantly a buyer up to that level.

[neilsy] 10/10/2016 07:18

Huge opening weekend for Girl on the train

"The offshore market breakdown for the moment is following a similar path to GG with Blunt’s native UK leading off of an $8.5M No. 1 start via eOne. That dislodged Universal’s Bridget Jones’s Baby which had held the spot for three weeks running. The UK was tops on Gone Girl which opened to $6.7M in October 2014 and legged to $34.6M there.

Australia, where eOne is also handling, opened at a big No. 1 with $4.4M. That’s about on par with GG. Portugal (Lusomundo) gave the Girl a first-place start and the Netherlands debuted at No. 2 via eOne."

[1gw] 09/10/2016 15:39

Alibaba goes to Hollywood...

Interesting tie-up in the light of EOne's strategic investment in Amblin.

[raffles the gentleman thug] 07/10/2016 13:25

Good post steptoes... and thats it in a nutshell. But I would have thought with competition breathing down their necks left right and centre that their strategy of diversification would be all the more imperative.

ETO has the benefit of being valued in London in pounds Sterling, which your wouldn't believe when you see the share price go down on days like today when the dollar trades up to 1.23, whereas I assume anything else ITV might wish to buy in their health acquisition pipeline is going to be Euro or dollar denominated and hence a good 15% to 20% more expensive than a couple of months ago.

[steptoes yard] 07/10/2016 13:12

ITV need to decide what their Vision is before their Strategy.

Are they a low growth org seeking to return capital to shareholders in the absence of growing the business OR an org prepared to take opportunities to grow the business which will need equity or debt financing

At the moment they are doing neither which is not clever

[rivaldo] 07/10/2016 12:32

ETO are launching Peppa in South Korea on TV and for product licensing - another 50m people set to succumb to Peppa:



"Peppa Pig Launching in South Korea
22 hours ago

LONDON: Entertainment One’s (eOne) preschool show Peppa Pig is debuting on South Korean animation channel CJ Tooniverse this month, coupled with the launch of a licensing program for the brand in the country.

In addition to the October 10 launch on CJ Tooniverse, eOne is prepping a consumer products program for the brand, appointing Gideon as the master toy partner in South Korea. The company will distribute Character Options’ toy line, set to debut at retail this month. Additionally, eOne appointed YeaRim-I as publishing partner for the brand. YeaRim-I recently launched a bilingual series of Peppa Pig storybooks, with more slated to launch in the fourth quarter of the year.

Peppa Pig merchandise is now available across Southeast Asia, including in Singapore, Thailand and the Philippines, as well as in several regions across China such as Hong Kong and Taiwan. eOne is gearing up for its first Peppa Pig brand conference in Asia, which will be hosted at the CJ E&M building on October 12 to network with potential licensees and trade partners.

Dorothy Chan, the recently appointed head of Asia at Entertainment One Family, said, “We are delighted to be taking our first steps into the Korean market with Peppa Pig. Asia is a key strategic focus in the international expansion of Peppa Pig and by partnering with best-in-class broadcasters and licensing partners we are building a strong foundation for future growth.”"

[raffles the gentleman thug] 06/10/2016 20:48

... I agree ITV is indeed pretty vulnerable at the moment, which should in theory give them more incentive to lever up and buy.

Quite surprising their shares are below average 2014 levels. Net impact of a 10% cut to NAR next year, if it even happens, gets their NAR EBITA back to the levels of that year. However then point is they will have an additional £650m to £680m of highly profitable non-NAR revenue which they didn't have in 2014. Regardless of negative earnings momentum this year, the valuation decompression is remarkable, as is the 30% odd drop in dollar market capitalisation since the referendum.

[1gw] 06/10/2016 20:10

I'm also on both sides, although much more weighted to ETO than ITV at the moment.

Things can change very quickly in the M&A world and having failed to follow through on the opportunity first time round, there's no guarantee ITV will get a second chance. For example ITV may find itself the subject of bid interest (and so feel unable to make another play for ETO).

[raffles the gentleman thug] 06/10/2016 19:38

Well thats just my own private opinion 1gw, and I am not remotely seeking to influence anyone on this thread over to my way of thought. The numbers are the numbers and they speak for themselves.

And like ianood I am a shareholder in both, in fact a rather large shareholder, and lets just say I have a vested interest on both sides to see something happen. But if it doesn't I see value in both ...

[raffles the gentleman thug] 06/10/2016 19:33

sorry ianood - i just had to slightly amend my last thread, as you will see because I stupidly doubled counted interest expense, so the REAL pretax benefit (ex interest expenses) weighs in at £172m, not £150m, and the earnings accretion at 300p is at least 1.7p and more like 2.0p.

And yes it is exciting and I believe as time goes on the merits of actually keeping film distribution as an integral part of the business will be better understood.

One thing for sure is that ITV owe everyone a proper explanation for why they didn't deliver, since they have absolutely no chance whatsoever to find anything else which will deliver this accretion at this price.