Lions Gate Entertainment (LGF) reported a mixed quarter with revenue and free cash flow slightly ahead of estimates and EBITDA and EPS at the very low end of the range of analyst estimates. The disparity among theses figures is due to film accounting which often leads to mismatches between cash and non-cash expenses and the […]
Speculation reemerged two weekends ago that the NTL-Telewest (NTLI-TLWT) deal may be intercepted by private equity investors. As reported by the UK newspaper The Sunday Express, Ajax Partners is considering joining a group of private equity firms with deep media experience that had previously been rumored to be interested in the deal. The original group […]
I don’t share the view that some tipping point was reached and the TV network model was changed forever by the announcements that NBC and CBS would sell individual programs for 99 cents via DirecTV (DTV) and Comcast (CMCSA/K), respectively. I believe these deals just will just reinforce trends already in pace by accelerating DVR […]
I don’t think Knight-Ridder (KRI) is likely to receive a takeover much more than 10% above the current price. Further, I don’t think the current situation surrounding KRI is likely to kick off a round of takeovers in the newspaper industry. Assuming KRI gets a bid, which is not guaranteed, it will provide support for […]
Echostar (DISH) reported 3Q05 revenue and EBITDA right in line with expectations at $2.1 billion and $501 million, respectively. However, the EBITDA figure included a $35.1 million one-time benefit. Therefore, EBITDA appears to be short of expectations and is likely the reason the shares are trading down over 2% as the conference call wraps up. […]
My initial reaction when I read through the Cablevision (CVC) earnings report was that the shares would trade off because EBITDA from the cable business was light of expectations by about $15 million or 4%. The Street seemed to agree as the shares fell by about 1%. However, on the call the company explained the […]
Central European Media Enterprises (CETV) reported solid 3Q05 EPS last week in a seasonally weak quarter. The market liked the results and the stock is set up well heading into what should be a well-attended analyst meeting in Prague scheduled for Thursday and Friday (my best contact on CETV will be in attendance). I think […]
DirecTV (DTV) reported slightly disappointing 3Q05 results primarily due to higher than expected churn and retention marketing. Revenue of $3.2 billion was a little shy of estimates while EBITDA of $365 million was a more significant shortfall. Gross and net adds don
Elements of Comcast’s 3Q05 earnings report are disappointing and they are elements that will matter to the Street. While top line revenue growth and EBITDA growth closely tracked Street estimates, rising 10% and 14%, respectively, a loss of 37,000 basic subscribers in a seasonally strong quarter and higher than expected capital spending, and thus lower […]
The November signals from the market cap and style models Northlake uses to allocate ETF-dedicated funds were unchanged from October. Consequently, no trades were done for November and client portfolios continue to own Mid Cap and Value. Specifically, clients own the S&P 400 Mid Cap (MDY) for market cap exposure, while style exposure is split […]
