Recent Wins See Nine Entertainment Shares Approaching Our AUD 1.50 FVE

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Equity Bottom-Up

Nine Entertainment Co Holdings / Equity Bottom-Up

<ul><li class="p1">Hype is brewing ahead of a potential relaxation of media ownership laws in Australia, with endless speculations about possible mergers and acquisitions, or M&amp;A.</li><li class="p1">We saw this "movie" back in the mid- 2000s when media laws were last eased.</li><li class="p1">It did not end well for those involved at that time, as structural headwinds decimated traditional media business models and destroyed billions of value.</li><li class="p1">Fast forward a decade, we believe digital disruption has intensified, permanently impairing the ability of television, print and radio to aggregate audience and attract advertising dollars.</li></ul><p><em>Analysts: Brian Han &amp; Benjamin Chan</em></p>

Hype is brewing ahead of a potential relaxation of media ownership laws in Australia, with endless speculations about possible mergers and acquisitions, or M&amp;A.We saw this "movie" back in the mid- 2000s when media laws were last eased.It did not end well for those involved at that time, as structural headwinds decimated traditional media business models and destroyed billions of value.Fast forward a decade, we believe digital disruption has intensified, permanently impairing the ability of television, print and radio to aggregate audience and attract advertising dollars.Analysts: Brian Han &amp; Benjamin Chan

Groundhog Day for Australian Media Sector: Reform to Ignite Urge to Merge.