is it now ??, page-19

Hi Whiteyg,

Having spent much of the day in Sydney, and only just back in Melbourne town, I missed out on much of the debate after 10.30am. Hence my delay in responding before now.

The 9c mark is one that was set by Fat Prophets as an exit price for their members.

As for the implications of today's announcements, I intend posting both an analysis of TMS, and some background research at some stage over the weekend.

Suffice, however, for the following to be said:
1)
outsourced cinema advertising operations are generally cheaper than the likes of Village, Hoyts, et al taking them in-house (small, captive markets like Singapore, however, are an exception to this rule);
2)
As soon as Hoyts (ie: Packer) renegotiates their rates with Val Morgan, the effective cost of cinema advertising will be lowered to the Hoyts chain (ie: more advertising throughput across the entire Packer range);
3)
under 2), it is quite possible that Village could then miss out on a proportional share of the advertising spend, etc (ie: they would need to adjust their rates to match the market);
4)
a cardinal rule - never bet against Packer, or his interests (something which Rivkin and Fat Prophets have done this week);
5)
Investec Wentworth has had a long-term association with Packer, the Lowy's, and with the TEN network (including CanWest); and
6)
Hartnell of Hartnell Antanoscovic fame is chairman of the Board, and their firm provides legal support to TMS (it is also one of Packer's firms, and both Hartnell and Antanoscovic have had long-term associations with Packer - both also are long term corporate restructuring, M&A specialists, etc).