The structural decline of newspaper, magazine and FTA industry is well observed and no doubt the players are in deep trouble. But the contrarian in me can't resist the temptation in a low valuation stock! The FTA still has strong following with live sports and reality shows. Those segments might get disrupted in the future but there might be also the possibility of a different profitable model for FTA. Radio was supposed to be dead for decades.
To me, the risk is pretty obvious but the upside can be substantial. It might be worth to put in your portfolio, just don't overcommit your portfolio. And the things I like about the company are:
1. Its consistent strong FTA market share
2. Good capital structure after the CR
3. Healthy cashflow
I guess we will just have to wait and see how everything plays out.
value or value trap
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