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By Steve Moore | Thursday 7 June 2018
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Shares in TV and multimedia content producer Zinc Media (ZIN) are currently leading the risers today – up 35%, towards 0.70p, on the back of a “US Agent Deal and TV Commission Awards” announcement…
This is that the company has signed an exclusive representation deal with ICM Partners and has two new commissions won by its subsidiaries Reef Television and Tern Television. In terms of the latter, Tern has been commissioned by Channel 4 for another series of 'Britain at Low Tide' and Reef for a new 10-part crime series for BBC Daytime, with it added “the company expects to announce further significant commission wins across other of the TV subsidiaries in the near term”.
Meanwhile, ICM is emphasised as “one of the world's largest talent and literary agencies with offices in New York, Los Angeles, and London” and “under the terms of an initial one year exclusive deal ICM will work with Zinc Media to secure US commissions, working with all of the Company's TV brands”.
That sounds interesting, though the “initial one year” term suggests it far from a guaranteed success – and no financial indications are provided.
This follows half-year results in March, which noted “mixed” trading, though that the company ‘recognised challenges’, ‘sees opportunities within them’ and was “confident that we can deliver higher profits for the full year”. I though concluded, with the shares towards 0.60p, I’ll await such positivity being reflected more convincingly in the financials before altering a cautious stance. This still remains the case – and thus, at best for now, on the watchlist.
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