My Biggest Concern...., page-9

because of the vagueness of it all - markets love certainty and unfortunately that hasn't been provided in great detail.
eg. source of debt and rate? dilution effect? revenue/run rate/ebitda effect?

That being said - fundamentally I dont think much has changed...

I wanted Tripp to run demerger process for TAH, I wanted him to bring Murdoch Foxbet in the tent, I think the "BET Platform" takes TAH out the ice age and makes them a TRUE competitor again - this is all being done is a round about way...

FOXBET Lachlan would dilute us, CR would dilute us, Acquisitions dilute us -- dilution is part and parcel of growth...as long as we are doing it to grow and not stay alive, I'm fine with it...

I worked as an M&A banker for close on 20years - the dilution conversation drives me mad...unless you plan of growing organically (which nobody does anymore...think Facebook with whastapp, instagram etc) - this is part and parcel of modern markets....