Nine Entertainment Share Price Goes Through Struggle

This morning Nine Entertainment Co. Holdings Ltd [ASX:NEC] dropped by 3.52% in their overall share value.

Despite their decrease, Nine is trading at a better value than they were last month, back in February their shares were valued at $1.70, now they are trading at $2.19 a share.

Nine Entertainment is a huge television and program broadcasting business in Australia. They were founded in 1956 and are currently based in Willoughby, Australia. Their market cap currently sits at $1.907 billion with an enterprise valued even higher at $2.02 billion.

Business decisions

Nine announced they will further push their Rugby League platform to a new level during the 2018 season.

Their televised channels, Nine and 9Now will contain exclusive broadcasting coverage of the Telstra Premiership Grand Final and the State of Origin.

Important aspects of Nine’s features will include: two major rounds of football over the Easter period and ANZAC Day weekend, and 23 Thursday nights of the NRL.

Nine.com reported that Director of Sport, Tom Malone, stated:

There is more footy than ever before on Nine and Nine’s digital platforms. Fans won’t need to go anywhere else to get more of the best games, presented by the biggest names — all live and free and in HD.

Nine will include an epic line up of rugby league programming with new looks to the NRL footy show, the Sunday Footy Show, and the Sports Sunday show.

Positive first half results

Back in February, Nine reported an overall positive first half to FY18.

The result was partially due to the sale of their Sydney North Shore site, as well as a boost in earnings for Nine Digital and their joint venture with Fairfax and Stan.

Nine announced they will continue in aiming to provide premium content for their viewers, which can be viewed across different platforms.

Cheers,

Ryan Dinse,
Editor, Money Morning

PS: Check out Money Morning Sam Volkering’s free report ‘The Four Best ASX Stocks for 2018’.


Ryan Dinse is an Editor at Money Morning.

He has worked in finance and investing for the past two decades as a financial planner, senior credit analyst, equity trader and fintech entrepreneur.

With an academic background in economics, he believes that the key to making good investments is investing appropriately at each stage of the economic cycle.

Different market conditions provide different opportunities. Ryan combines fundamental, technical and economic analysis with the goal of making sure you are in the right investments at the right time.

Ryan's premium publications include:


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