Management Information Circular ==> revealing READ!have a read through the above in preparation for annual meeting. Have a look specifically at management compensation / board compensation, etc., and one can easily see that this is a very, very expensive operation to run.
All the talk of saving a penny a pound here and a penny there is just that pennies (but I grant you that its pennies on hundreds of millions of pounds of production ) but when you are paying the top 3 or 4 people at TV the types of money that they are making (both directly through salaries, options, and other granting instruments) tells me that this is a bloated, high cost operation operating in a marginally profitable industry.
Reason for post is to alert fellow investors. Please read the materials and while you may not like what you read, at least it begins to paint the true picture of the costs of running TV.
my 2 cents worth and please do your on DD.