Bottom Line: Multimedia's music
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.MULTIMEDIA fever has gripped the stock market all year. Thorn EMI, the first to dismiss such talk as mere hype, has been a major beneficiary and its shares have outperformed the market by more than 15 per cent this year.
This pushed Thorn EMI shares to a premium rating and left them looking over-exposed.
A few cautionary sounds from the company yesterday about a likely slowdown in US rental, a maturing CD market and a rising tax charge over the next few years, duly knocked the share price 28p lower to 1068p.
In reality, the onward drive in the company's core businesses, particularly music, is likely to deliver earnings growth of around 15 per cent on average over the next two years which more than justifies a prospective p/e of 17.5 assuming pre-tax profits fo pounds 405m in 1994/5.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments