is it now ??, page-18

Answer to your question sackedgreyhound is since Kerry packers interests speak for a large whack of TMS and he also owns Hoyts privately there is a fair reason to presume that the upside benifit in seeing the TMS share price recover (especially compared to going broke) far exceeds any revenue issues for Hoyts arising from advertising rental agreements (especially if it is a short term variance aimed at getting TMS through a industry wide cyclical downturn.)

For Village the issue would be - if they get TMS to stic to the agreement and it goes bust then they have no agreement. Then, whether TMS is broke or they have released it from the existing agreement, who is the alternative and what are THEY prepared to pay. Probably nothing like the existing peak price negotiated back in the good times.

A renegotiation of terms would be likely as management respond to changing industry circumstances and look to longterm relationships and short term reality.

of course this is just mho of course!