Interactive World Share Discussion Threads

[nurdin] 25/6/2007 10:34

I much rather Sullivan sold his shares rather than issue new shares to clinch the deal.Earnings would be less diluted that way imo

[czar] 25/6/2007 10:32

john quite the opposite this will be a good deal for us, or a very good deal for us. The funds aren't stupid, rely on them to take Mr Sullivan out at their price. It may take months but there will be a very happy day a few months out.

[johnrxx99] 25/6/2007 10:05

looks like we're stuffed then

[nurdin] 25/6/2007 09:58

Institutions wouldt be interested if Sullivan held more than 20%..so I wouldnt read too much into it.Id be intrested to know what price they intend to pay for SS though

[diogenesj] 25/6/2007 09:45

I'm afraid so, john. It looks like a way for Sullivan to cash in his chips, or a lot of them, and leave shareholders holding the baby.

[johnrxx99] 25/6/2007 09:14

Have I got this right. Sullivan (ITW) is reversing SS (Sullivan) into it and reducing his stake. Surely the deal will favour Sullivan and not ITW shareholders vis the SS stake

[silverfern] 25/6/2007 08:54

Rumour is confirmed - see latest RMS and it is a reverse takeover to enable Sport to be floated. Clearly, the terms on which this is to float will determine its liquidity and City reaction. I doubt this will return to trading for a while now.

[czar] 25/6/2007 08:02

This should be a great deal for ITW (if the Express is right), the thing that has held it back is a huge Sullivan stake, institutions would fund this deal and only do so a/ if the price is right and b/ if Mr Sullivan is dilluted to a minority stake.

[silverfern] 25/6/2007 07:53

shares are suspended pending an announcement

[silverfern] 24/6/2007 16:20

Is the Sport on the stock exchange; if not this is a useful way of flaoting - a reverse take-over. Also an exit strategy for Sullivan. Whilst there might be synergies (d'load the Sport...as if) Ithis will make the ITW business model redundant. The company will be a newspaper. I'm not sure what the IP for the SPort will be worth in the City's eyes but £60m seems excessive and is likely to be losing money. If Sport has cash that can divi'd between the owners rather than part of the sale. However I would imagine some tax planning might alter that.

[kimboy2] 24/6/2007 16:14

I don't think the Express and David Sullivan are bosom buddies. So they may well be trying to cause as much trouble as possible.

[nurdin] 24/6/2007 16:01

I suspect the Express have got their story wrong...I cant see ITW paying £60m for a newspaper with 100,000 circulation,unless they have a huge cashpile as well of course.

I dont think this is taking the eye of the ball John...if they are in the media business,the newspaper adds another string to their bow...imo

[johnrxx99] 24/6/2007 15:48

Exactly, taking eye off the ball cos they're having a punch up with Murdoch: great. If Sullivan out .....

[kimboy2] 24/6/2007 15:45

Is £60m a fair price and if it is why is Sullivan selling most of his ITW shares. He will be down to about 6% of the enlarged group.

Anybody any numbers for the newspapers ?

[nurdin] 24/6/2007 15:38

Not a pure PC based internet porn operation John.Mobile searches,billing and content beginning to contribute significantly now.From the recent interims:

"Looking forward, we anticipate an increase in revenues through mobile searches
as mobile network operators benefit from customers browsing 'off-portal' more
extensively. We also expect to see a steady improvement in the profitability of
our internet-based billing and content services. We are confident of achieving
market expectations for the full year from, in particular, new revenue
opportunities currently in deployment. This is despite our overseas expansion
being slower than originally forecast in terms of full year contribution,
notwithstanding that it is now starting to show real potential in the United
States."


The control of the newspaper gives them control over the editorial and the newspaper content.You will see increased Sports content.interesting news stories mixed with some level of porn.I think they are taking on the Sun newspaper head on...and with that achieve deeper penetration of the market they serve.Excuse the pun :o)

[johnrxx99] 24/6/2007 15:24

But this a a porn internet based operation. What has that got to do with newspapers, even if porn

[nurdin] 24/6/2007 15:19

I know that ITW have been instrumental in installing new management at the Sport newspaper.The FD reckoned there is the potential to lift the circulation back to its the original heights...and the new management had already stopped the decline.

Good news if it happens imo

[kimboy2] 24/6/2007 14:30

Report in the Sunday Express that ITW is about to buy the Daily and Sunday Sport for £60m through an all share fund raising. David Sullivan is to reduce his holding from 49.9% to 20%.

Circulation of the paper is alledgedly down to 100,000 from 300,000 a decade ago.

I think Daniel Stewart may have their work cut out.

[johnrxx99] 22/6/2007 10:23

in this market? patience.

[polythene] 22/6/2007 10:17

Alright Johnrxx99,
It has held above 80p, now where's our breakout?

[dumpling] 20/6/2007 14:22

I'm glad I didn't sell when it breached my stoploss.

[johnrxx99] 20/6/2007 12:57

looks like break out continues. 90p next big hurdle

[nurdin] 20/6/2007 11:50

Thats how I like it..nice and steady. 5p divi if they are in line..more if they exceed.Must say I am looking forward to the results

[czar] 20/6/2007 08:58

Yup just another couple of days at this level and it should break out.