Lionsgate (LGF) shares are trading down about 4% following the release of the company’s 4Q07 results and 2008 guidance. As usual, the accounting is complicated but overall I think the results and guidance are fine and expect the shares to bounce back. For 4Q07, LGF reported EPS of 19 cents on revenues of $332 million. […]
NII Holdings (NIHD) shares rose over 3% yesterday following an announcement that the company would be issuing $1 billion in new convertible notes and buying back $500 million shares. Four million shares will be purchased contemporaneously with the closing of the convertible offering. Full use of the authority will retire about 3% of the outstanding […]
While Disney (DIS) shareholders digest the box office and stock market reaction to Pirates of the Caribbean: At World’s End, the company announced details of the divestiture of most its radio business. According to press release issued Friday, on June 12th, DIS shareholders will receive .0766 shares of Citadel Broadcasting (CDL) for each share of […]
Pirates of the Caribbean: At World’s End performed in line with expectations pulling in $156 million over the Memorial Day weekend to set a new record for the holiday period. However, whisper numbers were higher as many observers, including myself, thought the film could bring in $175-200 million. Most Wall Street analysts were looking for […]
Central European Media Enterprises (CETV) shares have pulled back this week amid news out of the Czech Republic concerning the awarding of new digital television licenses. The licensing process has been full of fits and starts with the government initially awarding six new national licenses but failing to provide licenses for the two national analog […]
Valuevision (VVTV), owner of the ShopNBC, the #3 home shopping channel, reported disappointing 1Q08 results after the close. Similar to QVC and HSN, ShopNBC had weaker than expected sales. VVTV has a high fixed cost base due to expensive distribution contracts it signed with cable and satellite providers. As a result, 5% sales growth translated […]
Shrek The Third beat expectations this weekend as I thought it would. The total box office of $122 million is the third highest opening weekend of all time behind only Spiderman 3 and Pirates 2. It will fall to fourth next weekend when Pirates 3 likely surpasses Spiderman 3. The weekend box office was up […]
As I noted last week, it seemed possible that Virgin Media (VMED) might be back in the crosshairs of private equity when one of its largest shareholders, Franklin Mutual Advisers, indicated that it wanted to meet with management and other shareholders regarding the poor performance of the company. My guess appears to have been accurate […]
The second big movie of the summer season, Shrek The Third, hits theatres today (actually showings began at 10 PM on Thursday night but those will count as opening day and opening weekend totals). No other new films are in wide release this weekend and Spiderman 3 is fading fast – even though it is […]
In response to yesterday’s post about the Bernstein analysis of Comcast as a private equity buyout candidate I received an email from my good friend and media confidante KG, who is also a hedge fund manager. As usual, KG is thought provoking: I read that Moffett analysis yesterday, and also read your piece. Such rationalization […]
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