BTW, what is a television licence worth? especially one that...

BTW, what is a television licence worth? especially one that will have its annual fees reduced. From what I can see Channel nine puts theirs at just under $500 million, Seven at $1.4 billion, and Ten just reduced theirs down from $350M down to $132M (yeah the $220M recent writedown to make the figures look shocking). They have same number of stations as far as I know and why is Ten decimating their book value on the licence and Nine/Seven are not when Nine/seven revenue reducing and Tens is stable. I thought you only wrote these things down when the income it derives is decreasing.

Lets just say, rather than forking out the $500m for the licence, foxtel want to pay $100 Mill and screw the plebs.

Timed to perfection after 5 year strategy drew to a close.