Barron’s Online gave Rogers Communications (RCI) a nice write-up yesterday, succinctly outlining the bull case. Barron’s noted the positive dynamics of the Canadian wireless market which has just 60% penetration and therefore promises several more years of well above average growth (unless Canadians end up being a lot less fond of mobile phones than the […]
One of the reasons I remain bullish on Comcast (CMCSA/CMCSK) is that the much feared price war over the components of the triple play – cable TV, high speed internet, and telephony – has not come to pass. In fact, what has long been feared to be a fight to the death is looking a […]
Over the weekend, the Wall Street Journal reported that Providence Equity was taking a control position in shopping comparison website Nextag.com. Nextag is the #2 shopping comparison website, trailing, Shopping.com. The #3 shopping comparison site is Shopzilla.com, owned by E.W. Scripps (SSP). SSP shares have rallied on takeover speculation due to similarities with Dow Jones […]
Several stocks in the Northlake portfolio have had newsworthy items over the past week. Here is a recap of the latest news, all of which I think is positive. Disney (DIS) completed the sale of almost all of its radio operations to Citadel Broadcasting (CDL). DIS shareholders received .0768 shares of CDL for each share […]
Yesterday several brokerage firms initiated coverage on recent IPO Cinemark Holdings (CNK), the third largest operator of movie theatres. Not surprisingly, the underwriters are providing favorable coverage including new buy recommendations. A few brokers expressed their preference for CNK over Regal Entertainment (RGC), the largest theatre operator and one of my long positions. The analysts […]
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 […]
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 […]
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