If they do for out $100M (and I think they will be smart enough to realise they have to) then we will be stuck with them.
unlikely they will get voted off if they pay big this year and then keep paying most of FCF in future years.
So then it becomes a judgement call on whether you want to remain a business partner with them.
Perhaps they have learner a good lesson they aren't soon to forget. Perhaps not and there will be more silly buggers in the future.
Hard to say, and they don't have a great track record.
I mean, the fact that we even have $150M cash highlights that they completely over-egged that Capital Raise in 2020. Just ripped the ring right out of it.
Ann: Sky not proceeding with MediaWorks acquisition, page-29
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Last
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Change
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