down 22% in one day, page-9

Guys don't just buy for the divi. Next years divi will be much lower. This years divi was extraordinarily high because it was underwritten back in march 2011 when swm was in the high 4's. Divi needs to be cut to get debt under control.

Real issue is that they dominated ratings last year but still made a profit under market expectations. This year with Olympics and a resurgent ten they will face more market pressure. Having said that I reckon if you want an exposure to television or newspapers then swm is the best vehicle for it. It's earnings ability is far better then fxj, son, ten etc..