Global Media Undervalued over 20% based on DCF

Alphabet

Market Cap: US$4.2t

Offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America.

Meta Platforms

Market Cap: US$1.4t

Engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality (VR) headsets, and AI glasses in the United States, Canada, Europe, Asia-Pacific, and internationally.

Spotify Technology

Market Cap: US$109.7b

Provides audio streaming subscription services worldwide.

NetEase

Market Cap: HK$646.7b

Engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally.

Warner Bros. Discovery

Market Cap: US$71.7b

Operates as a media and entertainment company worldwide.

Universal Music Group

Market Cap: €26.7b

Operates as a music company worldwide.

Publicis Groupe

Market Cap: €25.6b

Provides marketing, communications, and digital business transformation services in North America, Europe, the Asia Pacific, Latin America, Africa, and the Middle East, and internationally.

Omnicom Group

Market Cap: US$24.0b

Offers advertising, marketing, and corporate communications services.

NAVER

Market Cap: ₩33.3t

Provides online search portal and information services in South Korea and internationally.

Roku

Market Cap: US$23.4b

Operates a TV streaming platform in the United States and internationally.

Kuaishou Technology

Market Cap: HK$148.9b

An investment holding company, provides live streaming, online marketing, and other services in the People’s Republic of China.

Informa

Market Cap: UK£11.3b

Operates as an international events, digital services, and academic research company in the United Kingdom, Continental Europe, North America, China, and internationally.

Zhejiang Century Huatong GroupLtd

Market Cap: CN¥100.8b

Engages in the auto parts, Internet games, and artificial intelligence cloud data businesses in China and internationally.

Warner Music Group

Market Cap: US$14.2b

Operates as a music entertainment company in the United States, the United Kingdom, Germany, and internationally.

Paramount Skydance

Market Cap: US$11.6b

Operates as a media and entertainment company worldwide.

Kakao

Market Cap: ₩15.8t

Operates mobile and online platforms in South Korea.

Sirius XM Holdings

Market Cap: US$9.7b

Operates as an audio entertainment company in North America.

CTS Eventim KGaA

Market Cap: €5.7b

Operates in the leisure events market in Germany, Italy, Switzerland, the United States, Austria, the United Kingdom, Spain, Netherlands, Finland, France, Denmark, Sweden, Norway, Chile, Brazil, and internationally.

International Games SystemLtd

Market Cap: NT$206.3b

Plans, designs, researches, develops, manufactures, markets, services, and licenses arcade, online, and mobile games in Taiwan, the United Kingdom, Curacao, and Malta.

Trade Desk

Market Cap: US$6.2b

Operates as a technology company in the United States and internationally.

Autotrader Group

Market Cap: UK£4.3b

Operates an automotive platform in the United Kingdom.

Dentsu Group

Market Cap: JP¥913.5b

Operates in the advertising business in Japan, the Americas, Europe, the Middle East and Africa, and the Asia Pacific.

WPP

Market Cap: UK£4.2b

A creative transformation company, provides communications, experience, commerce, and technology services in North America, the United Kingdom, Western Continental Europe, the Asia Pacific, Latin America, Africa, the Middle East, and Central and Eastern Europe.

TBS HoldingsInc

Market Cap: JP¥901.6b

Engages in the broadcasting and real estate businesses primarily in Japan.

NIQ Global Intelligence

Market Cap: US$5.5b

A consumer intelligence company, provides software applications and analytics solutions in the United States, Poland, Belgium, Mexico, Indonesia, and internationally.

Kingnet Network

Market Cap: CN¥35.3b

Engages in the development, operation, and distribution of mobile and operations in China and internationally.

HYBE

Market Cap: ₩7.1t

Engages in the music production, publishing, and artist development and management businesses.

Springer Nature KGaA

Market Cap: €4.1b

Engages in the publishing business in Germany, the United Kingdom, the United States, and internationally.

Nippon Television Holdings

Market Cap: JP¥721.8b

Operates as a media and content company in Japan.

Manchester United

Market Cap: US$4.1b

Operates a professional sports team in the United Kingdom.

SMG Swiss Marketplace Group Holding

Market Cap: CHF 3.0b

Operates as an online marketplace and digital company in Switzerland.

SEEK

Market Cap: AU$5.1b

Provides online employment marketplace services in Australia, New Zealand, Southeast Asia, Hong Kong, the United Kingdom, Europe, and internationally.

ITV

Market Cap: UK£2.7b

A vertically integrated production, broadcasting, and streaming company, which creates, owns, and distributes content on various platforms worldwide.

IMAX

Market Cap: US$2.9b

Operates as a technology platform for entertainment and events in the United States, Canada, Greater China, rest of Asia, Western Europe, Latin America, and internationally.

John Wiley & Sons

Market Cap: US$2.6b

A publisher, provides authoritative content and research intelligence for the advancement of scientific discovery, innovation, and learning in the United States, the United Kingdom, Germany, and internationally.

Eutelsat Communications

Market Cap: €2.2b

Operates telecommunication satellites.