Itv Share Discussion Threads

[jonnybig] 03/3/2024 10:35

70p tomorrow

[netcurtains] 03/3/2024 08:37

ITV is Sunday "think" piece in the Guardian:

[matthewr1] 03/3/2024 08:33

Agreed. Despite what GF would have you believe , MM don’t sit on huge positions as it’s an extremely inefficient use of capital / cost of carry etc , as well as a legacy of the Volcker rule around prop trading. Institutions will be trimming their holdings into the buyback , in the open market , on exchange.

[kelso29] 03/3/2024 03:28

Huckers
I think they will sell shares to keep to their 9.9% holding.
Institutions sell during buyback periods in order to maintain their shareholding percentage, otherwise you would see lots of RNS from institutions going over percentage limits. Unless you think MM and private investors are sitting on lots of shares which they will sell to enable the buybacks to happen.

[spob] 02/3/2024 20:19

ITV sells stake in US streaming service to BBC Studios in £235mn deal

Broadcaster says it will return cash to investors through share buyback programme


Daniel Thomas in London

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

ITV has sold its 50 per cent stake in BritBox International, a subscription streaming service that broadcasts shows such as Death in Paradise in the US, to BBC Studios for £235mn.

Shares in the broadcaster rose more than 15 per cent in morning trading on Friday after the company said it would return the net proceeds of the deal to investors through a share buyback after its full-year results, which would be released next week.

The deal comes as ITV faces fresh pressure on its balance sheet from a steep decline in advertising revenues from its traditional TV broadcast channels. The company is trying to replace those revenues with a shift into advertiser-funded streaming services through smart TVs and online, as well as expanding its global studios division.

Next week, ITV is expected to flag fresh cost-cutting initiatives as the British broadcaster adjusts to a double digit decline in traditional advertising revenues.

The broadcaster has already frozen hiring and clamped down on expenses to keep costs lower. ITV is expected to reveal a fall in advertising revenues of about 13 per cent for its traditional “linear” channels at its full-year results, according to analysts at Citi, although stronger sales for digital advertising should reduce this to about 8 per cent overall.

The UK broadcaster is also expected to show a better start to the year, however, with analysts forecasting that the rest of the year could also see some recovery around key events such as the Uefa Euro football tournament.

ITV’s chief executive Carolyn McCall said on Friday that the BBC deal showed the company was “focused on its core strategic goals”.

BBC Studios, the commercial arm of Britain’s national broadcaster, is increasing investment in new productions and services. Tom Fussell, the head of BBC Studios, said the BritBox deal was an “important acquisition for us”.

He added: “We are taking full ownership of a successful, growing service we know well and that fits with our stated ambition to double the size of our business.”

ITV Studios will be paid for the use of its programmes on BritBox International under a new licensing agreement. The broadcaster said the deal was for a cash sum of £255mn, providing net proceeds of about £235mn.

BritBox International streams British entertainment shows to eight countries: the US, Canada, Australia, South Africa, Denmark, Finland, Norway and Sweden. BritBox UK is unaffected and will still feature BBC content.

Fussell described the Britbox service, which is increasingly popular in the US, as featuring shows that have a “lot of murders in British villages”.

BBC Studios also owns channels in the UK such as UKTV, which had about a tenth of the linear advertising market last year across the Dave, Gold, Alibi and Yesterday channels.

[jubberjim] 02/3/2024 19:01

Pearls before swine

Read it and reap mark2021

AW

[vlad the impaler] 02/3/2024 18:41

The timing and price exquisite

Very telling

[vlad the impaler] 02/3/2024 18:38

You know the saying though

"Dont lose your shirt shorting the Nasdaq " :)

Dunno what it means

[vlad the impaler] 02/3/2024 18:32

255M

Funds forced it. Know the revenue score for next update

Wont even beat expectation with that added.

Hence the buyback call. Positive speel to normal investors

Death spiral call to the savvy

[vlad the impaler] 02/3/2024 18:30

At least SR was shorting it since 245s on and off. So they say. I never read the threads 😂

[the imperialist] 02/3/2024 18:26

I know you’re new to this game vlad but shorting a stock with a recently announced 233M forced buyer? 😃😃😃😃

What you doing tonight? Blindfolded car dodging on the M1 ? hehehehehh

[huckers] 02/3/2024 18:14

matthewr1. He’s one of Vlad’s numerous handles. All of them filtered for over a year and a half.

[ny boy] 02/3/2024 16:46

Stan, for god’s sake stop visiting these opium dens, clean yourself up and start thinking rationally man

[institutional investments] 02/3/2024 16:13

Ie next results wont affect their holding values

Forward sell deals just prior

Compliments of ITV and the mug investors

[institutional investments] 02/3/2024 16:10

Tbf NY, they had to dump an investor prized asset seemingly to stop the rot, temporarily.

Not that narrow a range. Pretty much a straight 26% drop from September

No real consolidation there any timeframe

Straight to 56s, and a panic button asset strip before it hit 28s in a week😂

I really think the share buy sick plan is going to kill it. Funds won't need to deal in open market. ITV won't either bar the odd buy at 56s again

Nothing really there for investors now bar looking forward to a dividends removal once the funds not in to be paying

Also handy timing pre financials too because that would have been low 50s to 28s open, looking at advertising revenues elsewhere

Summary

They stalled the ball....and giving funds///mates a fixed price exit regardless

[ny boy] 02/3/2024 16:01

Stan, please, take your meds, last chance now

It didn't take a rocket scientist to work out itv has been in a narrow consolidation range for a long time, buying @ 58 wasn't the low but the shares hadn't showed signs of falling much more and the results were coming up, a calculated gamble. I’m not a big fan but I’ll take the trade if 70p arrives.

[isis] 02/3/2024 15:30

No implications with that other than they will own upto an extra percentage point. It works in their favour and hopefully everybody else's - the lower they buy the better really.
Of course alot depends on the general markets and economy as to how things pan out.

[institutional investments] 02/3/2024 15:22

Shameful plan

[institutional investments] 02/3/2024 15:21

Classic from this CEO

Help the funds

That's £255 million buyback that wont aid share price .
To top it all off, they can all sign forward sell deals and it won't matter when ITV crashes

[huckers] 02/3/2024 15:00

A thought. As the buybacks progress won’t Liberty Global find their 9.9% holding increasing to be above 10%? Are there any implications to that?