We're pleased with their message of returning excess capital to shareholders. It's a theme we've seen across the sector.
Uninspiring results in the core operations, combined with unfavorable exposure to the U.S. dollar make the current fundamental outlook somewhat bleak.
Growth in specialty advertising was a little lower than expected but subscriber revenue growth outperformed expectations and overall specialty revenue growth for the first quarter was in line.
(The stock) is trading at very low multiples. It suggests that the market was anticipating that not all the bad news was out.
