Consolidation and the next Leg up

Hi Folks
was doing some weekend reading and just did a quick comparison between NZME and PRT . Both companies the the old media business space.
simple comparison. - NZM trades at an EV of 170m odd with free cash flow of approx 30m . EbITDA is roughly 2 x PRT . unlike PRT they have payables and receivables largely balanced .
So in summary NZME on an operational point of view is roughly twice as big as PRTs but it trades at an EV of roughly 6 times higher.
Now NZME does have radio which one can argue is more resilient the TV , but also has print
The Gap shows once again how under valued PRT is relative to all other listed media companies bit equally shows the potential EV and EBITDA expansion that may come from a partial diversification away from Free to air TV
We should get an October / Nov update which I believe will be the catalyst for a move to the 15-16 Range