Hong Kong investor still sees gold in Sky TV

Mon, 13 Apr 2020

Boutique fund manager Black Crane Capital isn’t deterred by Sky Network Television’s plunging share price and soaring bond yield, building a sizeable stake on the expectation the media group will emerge as a key content aggregator.The Hong Kong-based investor has quietly built up a 5.1 percent stake in the pay-TV operator since the end of January, spending about $17.3 million, or an average 35.2 cents a share.That might look expensive when the share price closed on Friday at 26.5 cents and has traded at low as 19 cents, but founder Peter Kennan...

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