I think they've been doubly whacked by the market due to falling sentiment for the media sector and exponentially more so in leveraging up when others are deleveraging.
In this sense you are absolutely correct!
But my investment was because they had the strongest balance sheet in the sector and I believed in management to opportunistically exploit the falling market!
Management has my trust; even with the overpayment for SXL. Over the next decade the premium paid should be relatively insignificant as a percentage of the $100m talent investment.
I think they've been doubly whacked by the market due to...
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