NZME - THESIS, page-15

Couldn't agree more. People are assuming their news business is in terminal decline when the figures clearly suggest that is not the case.

On top of that you get a bunch of radio which is continuing to grow strongly and OneRoof's digital revenue growing 90% YoY! Listings and listings upgrades are continuing to grow in this business as well.

On top of that, the company has confirmed that "Debt was fully repaid and the company finished the year with a net cash position of $13.5 million."

I don't think this business requires a lot of capital, so I expect it to continue to grow while at the same time, paying out a great stream of dividends at a fantastic yield.

This has been priced and smack down like a risky growth stock with negative cashflow, while the company has instead been generating strong cashflow and rapidly paying down debt and growing its business.