My take is the company has realised the impact the convertible notes are having on the share price and the investor sentiment.
It would be in the companies best interests to find alternative funding.
The easiest way for Gary and Rahul to restore confidence in the share price would be to put their hands in their pockets and participate in a capital raising.
They may even consider offloading part of their holding for the right cornerstone investor.
The Fox Sports announcement will certainly give them an opportunity to achieve a positive outcome in a financial restructure IMO.
The decision to sign their own content is a massive development.
Lets see if they can get this story back on track.
SYT Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held
