I’ve written catuious commentary since Monsters vs. Aliens opened to $59 million in North America, in line with analyst estimates. The second weekend saw a drop of 45%, which is on the high side. The film is tracking close to Ice Age 2 over the past week but is $10 million behind overall. Ice Age […]
I’ll bet you would be shocked to learn that there is a media stock trading above its mid-September, pre-crash levels. It’s true. Discovery Communications (DISCA) is up about 5% thanks to a restructuring from a tracking stock to a regular stock, two positive quarterly earnings surprises, strong ratings for its TV networks, and still positive […]
I was hoping for a stronger defense by the analyst community after NIHD fell 18% yesterday following pre-announcement of lower than expected 1Q09 subscriber growth. The stock caught two downgrades and one analyst who has a buy lowered his price target. Goldman reiterated the buy noting that the change was minimal relative to its own […]
The WSJ is reporting that TWX has asked bondholders for consent to amend covenants. The amendments essentially switch collateral on the bonds from AOL to HBO. The idea is to set up AOL for a spin-off as a debt-free company. I’ve written often on TWX noting that any divestiture of AOL will be positive for […]
NIHD is down 19% after announcing its 1Q subscriber figures. The numbers were below expectations and the company lowered its full year subscriber forecasts. Especially troubling was weakness in Mexico, the company’s largest and most challenging market. No change was made to full year financial guidance but an update was promised on the 4/23 1Q […]
I sold all the shares clients received last week in Time Warner Cable (TWC) as a dividend from Time Warner (TWX). For each share of TWX owned prior to the 1 for 3 reverse split, clients received .03867 shares of TWC. For the long-term, I think the market is undervaluing cable stocks but I fear […]
The next film from Dreamworks Animation (DWA) arrives in theaters on Friday. Monsters. vs. Aliens will easily be the #1 film this weekend and will drive the box office to very positive comparisons But for investors the more pertinent questions are whether the film has a strong enough opening to drive DWA shares higher or […]
Central European Media Enterprises (CETV), one of my long-time favorite stocks which I stupidly rode all the way down, soared on Monday following the announcement that it was selling a 31% stake to Time Warner (TWX) at a 20% premium to Friday’s close. Apparently, I was not the only who believed that CETV had sunk […]
The Wall Street Journal is reporting that Disney (DIS) is putting expansion of its Hong Kong theme park on hold and laying off the employees involved in developing the expansion plans. The Hong Kong Park has been a disappointment almost from the day the gates opened. DIS owns it in partnership with the Hong Kong […]
In February, following release of DirecTV’s (DTV) 4Q08 results, I wrote several favorable comments about DTV on RealMoney.com. I followed up by publishing the following commentary which discusses Liberty Media Entertainment (LMDIA) as an attractive backdoor play to purchase DTV at a substantial discount. With SeekingAlpha.com publishing an article from Bullish Bankers discussing Liberty Media […]
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