The Univision (UVN) auction came grinding to an end with announcement that the company would be sold for $36.50 per share or $12.3 billion. The private equity financed buyers will also assume debt of $1.4 billion. After adjusting for acash and other assets, the total value of the deal is about $13 billion. Analysts estimate […]
Newspapers companies presented to analysts last week in the annual mid-year review. I did not attend the meetings or listen in on any webcasts but I did review several summary reports prepared by analysts including Lauren Fine of Merrill Lynch and Mark Fenton of Citigroup. Overall, the presentations gave little hope for the short-term other […]
If my bullish thesis on the summer box office is to come to fruition, it should be evident over the next few weeks with the back to back openings of Superman Returns and Pirates of the Caribbean: Dead Man’s Chest (POTC) on June 28th and July 7th, respectively. These are two of the most anticipated […]
On Monday morning, UBS Cable Analyst Aryeh Bourkoff hosted a conference call with Stephen Burch, CEO of NTL Incorporated (NTLI). I thought the call went well although the stock went down on Monday and Tuesday. I continue to hold all of Northlake’s long positions in NTLI and feel the stock offers incredible value at current […]
The box office was up for fifth consecutive weekend, led by a solid second weekend for Cars and respectable openings for three new films: Nacho Libre, Fast and Furious Tokyo Nights, and The Lake House. The Break-Up and earlier releases like X-Men and The Da Vinci Code continue to pull in moviegoers. Although the summer […]
So far, the results of the upfront selling season for network TV advertising have been slow. The upfront occurs every May and June when the broadcast and cable networks introduce their lineups and cut deals with advertisers for advertising over the new TV season that follows in the fall. FOX Ahead of Other Broadcast Networks […]
One of the theories behind breaking up Tribune (TRB) is that the broadcast television assets are worth a significant premium to the current valuation of TRB shares. Recent TV station sales support this idea but an article last week in the Wall Street Journal there outlined the pressure that local TV stations are feeling. It […]
On Thursday, LionsGate Entertainment (LGF) reported mixed 4Q06 results and announced 2007 guidance which was inline with expectations. The shares are responded well initially, rising more than 3%. After almost a year of disappointing financial results, I think the rally in the shares is more a function of relief than the result of any important […]
Earlier this week, the 1Q06 GDP report in Japan was revised. Several statistics noted in this Bloomberg article article discussing the report support my bull case on Japan. GDP grew by a healthy 3.1% in 1Q06, revised upward from 1.9%. Corporate spending rose at its second fastest rate since 1990. Machinery orders were up almost […]
On top of the slightly weaker than expected opening for Cars, Disney caught a downgrade from Citigroup which has the shares down about 3% this morning. However, the downgrade had nothing to do with Cars. Rather it was totally predicated on the analyst’s expectation that theme park revenues and operating income would fall well short […]
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