Broadcasting M&A to Be Center-Stage for Near Term, Goldman Says
2014-08-11 07:42:19.155 GMT
By Jessica Morris
Aug. 11 (Bloomberg) -- M&A in focus following Liberty
Global’s recent purchase of ITV stake, interest in Mediaset Pay
TV from Vivendi, A Jazeera, Goldman says in note.
* Goldman: medium-term probability of ITV takeover has
increased; introduces 50% weighting to M&A-based valuation
in new PT 251p
* Sees offer from Liberty Global unlikely in short-term
* Mediaset could benefit from consolidation in European
Pay TV landscape, increased convergence between media,
telecoms
* Values Mediaset Pay TV unit at EU900m
* Says cos. best able to exploit and produce content
should be structural winners in sector
* ProSiebenSat.1, ITV, RTL best positioned structurally on
leading online/content positions
* ProSiebenSat.1 is leading gainer on SXMP media index today,
up as much as 2.7%; Mediaset rises 2.1%, ITV up 1.9%
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To contact the reporter on this story:
Jessica Morris in London at +44-171-330-7500 or
jmorris124@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
James Cone
2014-08-11 07:42:19.155 GMT
By Jessica Morris
Aug. 11 (Bloomberg) -- M&A in focus following Liberty
Global’s recent purchase of ITV stake, interest in Mediaset Pay
TV from Vivendi, A Jazeera, Goldman says in note.
* Goldman: medium-term probability of ITV takeover has
increased; introduces 50% weighting to M&A-based valuation
in new PT 251p
* Sees offer from Liberty Global unlikely in short-term
* Mediaset could benefit from consolidation in European
Pay TV landscape, increased convergence between media,
telecoms
* Values Mediaset Pay TV unit at EU900m
* Says cos. best able to exploit and produce content
should be structural winners in sector
* ProSiebenSat.1, ITV, RTL best positioned structurally on
leading online/content positions
* ProSiebenSat.1 is leading gainer on SXMP media index today,
up as much as 2.7%; Mediaset rises 2.1%, ITV up 1.9%
For Related News and Information:
Top Stories:TOP<GO>
To contact the reporter on this story:
Jessica Morris in London at +44-171-330-7500 or
jmorris124@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
James Cone