Yes, it is obviously self evidently contradictory, churn moderated to 17.1%, from what, 1 in 5 subscribers left, if the profit was so good as highlighted, how come Telstra did not see it so profitably, TLS would be $8, or $9 if FoxTel generated that type of profit for TLS, there is obviously a lot of transfers going on around News to generate such accounting calculations.
The report does not ring true for me, the churn representation does not hold up to scrutiny, and the revenue figures do not make sense for such a costly product.
And why is TLS still $3.89 if the accounting at FoxTel is not a typical New Corp accounting report.
Do you believe any of it because the market clearly doesn’t?
TLS Price at posting:
$3.89 Sentiment: Sell Disclosure: Held
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