Central European Media Enterprises (CETV) reported better than expected operating results for 4Q05. Segment revenue of $173 million slightly exceeded management guidance of $171 million. Analyst estimates were generally in line with guidance. EBITDA of $70 million easily exceeded guidance of $58 million. Analyst estimates for EBITDA were slightly above guidance but still under $60 […]
Central European Media Enterprises (CETV) reports before the open on Thursday. I remain optimistic about the shares with the caveat that quarterly are quite volatile particularly on a country-by-country basis. If my forecast for 13% revenue growth and over 18% EBITDA growth in 2006 receives support from management, I think my target in the low […]
One week ahead of its March 2nd 4Q05 earnings report, Central European Media Enterprises (CETV) announced an increase in its ownership of its operations in Romania. In a negotiated agreement with its partner, CETV is paying $27.2 million for an additional 5% stake in Pro TV. CETV will now own 90% of Pro TV. The […]
One week ahead of its March 2nd 4Q05 earnings report, Central European Media Enterprises (CETV) announced an increase in its ownership of its operations in Romania. In a negotiated agreement with its partner, CETV is paying $27.2 million for an additional 5% stake in Pro TV. CETV will now own 90% of Pro TV. The […]
Based on news reports, it appears that Univision (UVN) wants to sell itself for $13 billion. Along with about $1.5 billion in debt that would work out to 18 times projected 2006 EBITDA of $800 million. It is a rich price, especially given that major media companies generally trade at 8-10 times EBITDA. UVN is […]
There was good news out of Central European Media Enterprises (CETV) on Monday as the company announced that it had completed its acquisition of a controlling interest in the license company for its station in Slovakia. Obtaining the interest will allow Slovakia to be consolidated which will greatly simplify the income statement and provide increased […]
A London-based analyst from Lehman Brothers launched coverage on CETV yesterday. I have uploaded a copy of his report. If you want to read it, go to the “Continue Reading” section and click the link. It is a pdf file and requires Adobe Acrobat to access. I plan to upload more brokerage reports in 2006 […]
received an email just before Christmas with an update on TV advertising in the Czech Republic. According to TNS A-Connect, during November advertising was up 17% on a year-over-year basis. I view the Czech Republic as one of the more mature TV advertising markets in Central and Eastern Europe, so this is a good sign […]
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 […]
Central European Media Enterprises (CETV) shares will pop sharply on the open and likely be volatile for a couple of days because Jim Cramer mentioned it as a buy on his popular CNBC show Mad Money. Cramer moves stocks because he has lots of followers. He also has lots of detractors which is why I […]
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