valuation, page-6

I agree, in the long run, numbers at Flinders St station may be irrelevant.

GCN look to be in a great position.
But they need to get some runs on the board.
Success breeds success.
If the wifi is successful for GCN, in that they generate substantial advertising revenue, it lifts their profile for potential advertisers, which carries over to their IPTV platform and their PI promotional sales model.

On the other hand if the wifi stalls for whatever reason
maybe Netbay have difficulties, who knows.
Then it stacks up with the legacy that is weighing GCN down.

It's a double edged sword