A theme that may not be priced in

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Alex Leyland, Portfolio Manager at Leyland Asset Management, sees value in a number of ASX sectors at the moment, but one unloved old sector has yet to have been bid up following important changes. “The media reach rule will be scrapped. There is no doubt in my mind about that. If that happens then it’s just a natural progression, using Channel 7 and Prime TV as an example, there are huge synergies to be gained should Channel 7 decide to take over Prime TV.” Importantly, the market doesn’t seem to have caught onto this yet, and in his view, the upcoming legislative changes have not yet been reflected in share prices. “You never want to be comfortable investing in anything as it often doesn’t lead to a good outcome. So it’s good to be uncomfortable, and I’m uncomfortable enough to invest in Prime.” Watch the full interview below.


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