TVA to be taken private by Quebecor Who would have bet that the share of TVA would be higher then Corus.
This morning, there was many small block of TVA traded by 6 different brokers.
Some must be betting that with the deal done, Peladeau'snext deal will be to buy the 13 million
share that Quebecor does not own.
The rumour is that he will offer $4.That would be a pitty for the minority shareholders.
TVA as no debt, hardly any intangible and it book value is $9.10.
They just cut another 140 employes with equates to 35 cents/ shares.
Peladeau is a shrewd business men.He can recognize value
Huge head wind for this sector but the beauty of TVA reside in it's asset value.
The buildings , studio's and a few very profitable specialty chanels(LCN, Evasion,Addick..) alone
are worth more than the $9.10 book.
TVA Sports loss is what is draging down TVA.They lose about 60 to 70 cents / years / shares.
Once they close TVA Sports, TVA will be highly profitable and Perladeau knows that.
It only a matter of time before Quebecor make an offer to the minority shareholders.
I am long TVA and have been wrong for the past 2 years on waiting for Quebecor to take me over but i believe i am getting closer to the day i wake up and read the good news.