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"With valuation currently reflecting long-term growth challenges … we view shares as fairly valued and maintain our hold," Scribner told clients last week.
But that is not the case with valuation.
This looks inconsistent with valuation, which is near 10-year relative lows.
I say, 'Look, you're obsessed with valuation and we're obsessed with value'".
Expected to launch IPO next year with valuation at $11 billion.
"Our downgrade has more to do with management's lack of credibility than with valuation," Mr. Lawrence said.
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But in early March we became uncomfortable with valuations.
"We will continue to struggle with valuations as the goal posts continue to move".
So auditors have to weigh in with valuations when the firm values its holdings.
That's about on par with valuations for the broad market at the time.
News Corporation will use the investment banker Bear Stearns and Saban will use Morgan Stanley to come up with valuations.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com