I am generally unimpressed by the AOL-Google (GOOG) deal as far as Time Warner’s valuation is concerned. I value Time Warner (TWX) on a sum of the parts basis and due to the compression in multiples throughout media over the past year I just don’t see a huge valuation discount for TWX unless all media […]
King Kong opened strongly with $51 million on the weekend and $66 million since its mid-week release. However, the totals will be considered a disappointment as expectations were higher, ranging from $75 million to $100 million for the 5 days of release. The film is from Universal Pictures, which is part of NBC Universal and […]
NTL (NTLI) has traded up steadily this week, extending its gains since it announced it was going to purchase Virgin Mobile. The Virgin deal is still being negotiated and I expect it to be completed, however, this week’s gains are due to more rumblings that private equity funds are interested in buying NTL after it […]
With cash building in client accounts as winning trades were being harvested, I have been looking for a new idea to add to portfolios. I’ve picked up the hunt for a new idea because I believe the recent resting period for the broader market averages will give way to one more move upwards in 2005. […]
I was so busy last week at the UBS Media Conference that I failed to get up a post informing clients that I trimmed positions in Central European Media Enterprises (CETV). I’ve had a long-standing target of low $60s based on 2006 estimates so when the stock first broke through $59 last week, I cut […]
The only presentation I heard from Disney (DIS) at last week’s UBS Media Conference came from George Bodenheimer, who heads up ESPN. The story at ESPN is excellent with double digit average growth in operating income through 2009 as most costs and affiliate fees are locked in. Recently, ESPN has been a bright spot while […]
Here are some brief notes summarizing individual company meetings I attended at last week’s UBS Media Conference in New York. Please make sure to read this post in conjunction with my initial overview comment which was posted last week…
“It’s a real mess.” Mark Cranmer, who runs international for the big ad buying firm Starcom MediaVest, is describing where the advertising supported industries are in trying to determine how you value the consumer’s audio-visual exposure and how he engages with it. This is my key takeaway from the first day of the 33rd Annual […]
I woke up Sunday morning to learn that NTL Incorporated (NTLI) will be merging with Virgin Mobile, according to numerous sources in the British and American press. It appears this deal will occur roughly simultaneously with the closing of the NTL-Telewest (TLWT) merger early in 2006. The new company will be named Virgin and the […]
There were no changes to the signals from Northlakes Market Cap and Style models for December. The signals remain mid cap and value, respectively. Therefore, clients continue to own the S&P 400 (MDY), and the Russell 1000 Value (IWD) and the Russell 2000 Value (IWN). The market cap model has been drifting very slightly toward […]
