With decisions like these it's no wonder Mr Market struggles to give Sky a fair PE multiple.
All things being equal, that $40M could have gone towards resuming a dividend last year.
And the idea that we would not have retained the rugby contract if we didn't buy RP to demonstrate how "with it" we are as a company is quite frankly laughable.
I bought into the spiel at the time and had high hopes, but I see now that management panicked near rugby renewal time and overpaid massively for a pretty shitty asset.
As I say, Pooman had better deliver something good on Thursday.
He has plenty of cash at his disposal despite management trying their best to squander it.
Surely he can't f* this up. Especially with all the various 'Helpers' he has hired!
*gulp*
Ann: Sky secures exclusive Premier League football rights in NZ, page-8
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