Broadcasters hit for six

Traditional TV is losing out in the battle for sporting content in America. If it’s up to Australia’s sporting codes and Foxtel, we’re next.

Tuesday wasn’t a good day for the nation’s free-to-air (FTA) broadcasters. After announcing a declining advertising market and worse-than-expected ratings, shares in Nine Entertainment (ASX:NEC) fell 24% while Seven West (ASX:SWM) shares also tumbled 11%.

In the past year the share prices of Seven West, Nine Entertainment and Ten Network (ASX:TEN) are down 35%, 45% and 51% respectively. Is this an opportunity to pick up a well-known company on the cheap?

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