Tao Liangchen
Chapter 812 TVB for Sale to the Public
Zheng Yongwen suddenly thought of something and reminded him, "Oh, right. There's been talk recently that Sixth Uncle is getting old and wants to retire. He and his foundation company's 30% stake in tvB might be transferred. If you're interested, you could ask. After all, tvB has so much influence. It's better for you to buy it than for a foreign company to acquire it."
"…Damn, such explosive news, and you're only telling me now?"
Su Yehao was indeed taken aback.
At its peak last year, tvB's stock price exceeded HK$82, with an overall market value of over HK$36 billion.
Although the television business itself has been declining, it holds considerable land, including the Clearwater Bay TV City, as well as the tvB headquarters building, pay-TV channels, publishing, and the internet – all valuable assets.
If other businesses were spun off, tvB's value would be so-so, but adding everything together, including the company's cash flow, the total scale is far beyond what ATV can match.
ATV had previously competed with it, but only for a share of the film and television broadcast market. As one of the oldest listed companies in Hong Kong, its foundation isn't bad.
He was tempted for a while.
Su Yehao then sighed and said, "Sounds great, but I already own ATV. I don't know what the future holds for traditional film and television, and I can't squeeze out that much money right now."
"You have no money?"
Zheng Yongwen's face was full of disbelief. He continued, "I'm just telling you. It's up to you how you decide. It has nothing to do with me. tvB's current total market value is around HK$27 billion, with land accounting for a large part. Last year, they acquired a large plot of land in Tseung Kwan O, Sai Kung, planning to build a new TV city."
"Okay, I'll look into it. I probably won't buy it…"
Like many old listed companies, tvB's shares are relatively dispersed, with the decision-making power firmly in the hands of Sixth Master Hao.
This means that spending about HK$8 billion could control this enterprise worth more than HK$20 billion.
However, after leaving the Hong Kong Stock Exchange, Su Yehao quickly calmed down from his initial excitement.
If tvB were willing to spin off some of its television business, Su Yehao might not mind taking a gamble on a leveraged buyout, allowing ATV to swallow the elephant and completely secure its position as the largest television station in Hong Kong.
However, tvB's market value includes too many assets that Su Yehao isn't interested in, such as the TV City and the tvB headquarters building. If he wants to acquire it, he has to pay for these as well.
The lack of funds gave Su Yehao reason to cool down and think again.
Looking at it from another perspective, people's lifestyles are changing, and young people rarely watch traditional television programs anymore, which means that tvB's value will continue to decline. It's basically a sunset industry.
And what Su Yehao is most interested in – film and television drama copyrights – tvB had already sold to a shell company under Nangong Tian's name in March of this year, nearly eight hundred movies and TV series' online broadcasting rights, bundled and sold at almost a throwaway price, costing only HK$60 million.
It's probably due to rampant piracy. Since outdated film and television dramas don't make money, it's better to make use of them. People haven't yet thought of watching dramas online, using the internet to download resources - the speed is simply despairing.
Sunset industry, and without spare cash in hand, Su Yehao pondered for a few minutes, and decisively gave up the idea of acquiring it. With that fund, it would be better to have one more OEM factory, or even enough to exchange for 25% of Apple's shares. Wouldn't that be much better than acquiring tvB?
Thinking like this.
Sixth Master decided to sell tvB, if it can really be concluded, it can be regarded as picking a good time.
As for whether others will compete with ATV after taking over, Su Yehao is not worried at all. His original intention in purchasing ATV was purely to help the Sweet Fish Entertainment of Little Ni and Jiang Yu, and to increase some voice.
Nowadays, the popularity of the Internet is getting higher and higher, tvt, nesmroblog (news Weibo), iCQ and other products, plus to()
t and Google search products are all in Su Yehao's hands, and he has already taken advantage of the new media field, and his influence is no less than that of tvB TV station.
Since the rise of the online news industry, there have been fewer customers ordering newspapers, and there has been a clear gap between the old and the new. For Su Yehao, the right to speak is already enough. He can usually do without it, but he can't do without it. The same is true in Europe and the United States...
Taking a car to the headquarters of KOKO Ventures, Su Yehao went to the office to go online and posted a post.
The content is--
"Recently, people are panicking. In fact, the overall market environment has not changed, and the value of a batch of high-quality assets has become prominent. I just had tea with Mr. Zheng Yongwen, CEO of the Hong Kong Stock Exchange. The two agreed that it is necessary to further strengthen financial exchanges with the mainland. I personally propose to open up the stock markets of the two places as soon as possible, and formulate detailed rules and regulations to facilitate investors' diversified layout..."
He wrote more than four hundred words, and then @Zheng Yongwen.
The following is a comment on the mainland stock market, continuing to be optimistic about real estate, finance, consumption and other sectors, and bluntly saying that the stock market is about to bottom out, and a batch of high-quality assets are of great long-term investment value, and will enjoy the dividends of joining to.
There are a lot of people following Su Yehao's account. As soon as this post was posted, someone commented, "Similar to my point of view, I have already started to copy the bottom", "I want to trick me into buying financial products again" and so on.
It was normal at first, but suddenly someone commented, "Others can only send 120 words at most, why can your post write hundreds of words?"
As soon as this comment came out, the building suddenly went crooked.
Some people said that they tried to type randomly and still exceeded the limit of one hundred and twenty characters, while others sighed that it is worthy of being the boss, giving themselves a small stove.
The number of likes is rising rapidly, higher than the number of likes for the article itself.
Su Yehao was dumbfounded after reading it.
Another vice president of KOKO Ventures, knocked on the door and walked into the office at this time, and asked Su Yehao, "Boss, I received a notice from the office last night that you plan to end the cooling-off period and start investing in Amazon?"
Su Yehao didn't hide it, nodded and replied:
"Your news is really well-informed, remember to keep it secret. I feel that Amazon's stock price will bottom out soon. It's just right to take advantage of the chaos when the market opens next week. Buy some tradable shares and talk to the major shareholders about the transfer. Strive to hold 10% of the shares first, with a total budget of about 500 million U.S. dollars, I will get the money."
"Is it an investment? Then why did you notify me to prepare for financing?"
"Buy first and then finance, both sides will not delay. There are too many tradable shares of Amazon. I will take this opportunity to negotiate with their CEO. A large number of repurchases will help increase the stock price in the future, so it is more likely to agree to my additional issuance plan."
Su Yehao was mainly afraid that the additional issuance of new shares would be taken away by others, so he decided to copy the bottom from the tradable market first.
He frowned and thought, and asked suspiciously: "I remember that the issuance price of new shares on Nasdaq is no less than 90% of the average stock price in the 20 trading days before the pricing benchmark date, right?"
This vice president, surnamed Chen, who is mainly responsible for Asian business, replied:
"Yes, but it must be approved by the Securities Regulatory Commission first, and there is a restriction on the lock-up period, but it is more cost-effective than directly acquiring from the secondary market. A large number of tradable shares may drive up the stock price. If there is negative news next week, it will be easier..."