Twenty-First Century Fox Inc (FOX-Q)

They reported last week: Revenue and adjusted EPS beat, driven by strength in live sports. Their Tubi streamers (ad-supported) is doing nicely with rising users and revenues. But shares rose only briefly then suffered downgrades and sunk further. Not a bad stock, but they are very exposed to cable TV, a dying industry.

They've bought back 16% of shares so far this year. Surprising. Other streamers have broken the bank to produce content, but not Fox which has one of the best balance sheets in this sector. It helps that they sold the bulk of the business to Disney (and many feel DIS paid too much). Are currently weighed down by a defamation lawsuit, but management is using this share weakness to buyback shares. Has this strategy worked? Well, shares are 4.7% this year, but it still lags Warner Bros and Comcast. It lacks growth, but shares are cheap. Not his favourite in this space.

The Stars Group The regulation of internet sports betting in the U.S. has been a pushback and he doesn't know how it'll resolve itself. TSGI just partnered with Fox Sports and Fox has other interesting assets, so this is a better way of playing online gambling.

(Top Pick Oct 10/13, Up 4.12%) These companies can return capital. There are a number of companies that look good in this space.

Media has been a very good theme this year. Fox is a global company. Very shareholder friendly, doing buybacks of 5%, returning capital to shareholders. 20% earnings growth and multiple expansion will lead to 25% growth in the valuation.