Ann: Disclosure of Directors Relevant Interests, page-19

@MarsC

Sky are currently assessing and have commited to updating the market on any impacts by the end of this week.Super Rugby has been postponed, but they may still have a series of Derby matches with the local teams to keep something going.
SANZAAR have said they can postpone for up to 5 weeks before they would be forced to cancel Super Rugby altogether.Still waiting to see what is happening with the Warriors. If they agree to stay stranded in Aussie they can keep playing in the NRL.

Spark Sport has offered their platform for free between now and March. They have hardly any content though - and the big ones they did have (Formula 1 and Premiuer League) have been canned. Sport makes up such a small percentage of their revenue though so it isn't going to impact them much.

So depending on how this plays out, if key sports get cancelled for the rest of 2020 then you bet people will expect refunds or discounts on their subs. And Sky will give them - but it would be impossible to try and quantify what that might look like.
Then we would also expect Sky to receive some rebates from the content owners themselves. I don't know how the contracts work for scenarios like this and what broadcasters might be entitled to.

And finally, if people are going to be spending more time it home - it is not unreasonable to think they Sky's wider entertainment offerings might be better. So someone on traditional satellite might suspend their Sport package, but pick up Movies and SOHO. Or even subscrbe to NEON (I see Westworld S3 is streaming now!).

One week ago the stock was at a low price of NZ0.52c per share = Market Cap $NZ$227M. Sport aside, the entertainment rights held alone over the next 5 years dwarf that - which is why I still view 52c as an insanely low price.
Now the price is NZ0.30c per share = Market Cap NZ$131M. To suggest that today the business is worth approx $100M less than it was one week ago, when nobody knows what (if any) impacts on earnings will ensue highlights that what is currently happening has nothing to do with company performance and is all to do with panic.

I plan to buy more, hopefully the shares go even lower.

And time will tell if I am a brilliant investor, unswayed by market sentiment - only ever looking at the facts and forming my own views, Mr Market be damned.

Or a complete f*cking idiot who thinks too highly of himself and should stop destroying his family's wealth and just invest in the S&P 500.