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    Entcho Raykovski

    Research Analyst at Evans & Partners

    Entcho Raykovski is Executive Director and Head of Media & Telco Equity Research at Evans & Partners, leading coverage of Australia's media and telecommunications sectors for institutional clients. With over 15 years of experience, his coverage has included major firms in media, telco, transport, infrastructure, metals & mining, and oil & gas, and at Credit Suisse he managed a team consistently ranked Top 3 in the Peter Lee investor survey. Raykovski began his career at King & Wood Mallesons before holding senior research roles at Deutsche Bank and Credit Suisse, joining Evans & Partners in 2023 to spearhead their media and telco research efforts. He holds Bachelor of Laws (Honours) and Bachelor of Commerce (Honours) degrees from Monash University and is recognized for his leadership in sector analysis and institutional investor engagement.

    Entcho Raykovski's questions to NEWS (NWSA) leadership

    Entcho Raykovski's questions to NEWS (NWSA) leadership • Q3 2025

    Question

    Entcho Raykovski of Partners followed up on the Dow Jones segment, asking about the expected financial impact of the Factiva dispute in Q4 and the potential for long-term margin expansion.

    Answer

    CFO Lavanya Chandrashekar stated that the impact from the Factiva dispute should lessen in Q4 as the company begins to lap the issue. Regarding margins, she explained that growth in the high-margin Professional Information Services business, operating leverage from the consumer business, and cost discipline are the key drivers for expansion. CEO Robert Thomson added that as the professional business grows its share of revenue, the overall margin should continue to expand.

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    Entcho Raykovski's questions to NEWS (NWSA) leadership • Q2 2025

    Question

    Entcho Raykovski asked about the planned use of proceeds from the Foxtel sale, specifically whether the focus would be on capital management, such as buybacks, or reinvestment into the business, and if there was any guidance on future CapEx.

    Answer

    CEO Robert Thomson emphasized a focus on maximizing long-term shareholder value, highlighting the existing $1 billion buyback program and dividend payments. He noted that the company's increased free cash flow and new investment-grade credit ratings provide significant optionality for shareholder returns.

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    Entcho Raykovski's questions to NEWS (NWSA) leadership • Q1 2025

    Question

    Entcho Raykovski asked a two-part question regarding underperformance in Dow Jones advertising and the timing of a potential recovery, and also requested the current balance of the Foxtel shareholder loans after a recent repayment.

    Answer

    CEO Robert Thomson attributed advertising softness at Dow Jones to election-period apprehension but noted an expected increase in digital advertising in the current quarter. CFO Susan Panuccio provided the specific figure for the Foxtel loan, stating the current balance is AUD 545 million.

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