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@leasxHi,I was wondering if you ever had a look at NZME (leader...

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    @leasx
    Hi,
    I was wondering if you ever had a look at NZME (leader for radio and publishing in NZ).
    Quite comparable to News corp, in term of business portfolio with 3 businesses : radio, publishing and real estate classified.
    Main difference is that the classified business is a very small part for NZME.
    Like NWS, NZME had a good resistance in FY 20 due to strong cost cutting and focus on digitalization and subscription.
    Whatever way you look at it, NZME is really cheap. For ex. EV/EBITDA of 3.4 x (if we exclude wage subsidies).
 
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