Endeavor Acquisition Corporation (EDA) announced that the deal to purchase American Apparel (AA) will proceed. AA met the requirement that 2006 earnings before interest, taxes, depreciation and amortization (EBITDA) be at least $30 million. An additional requirement that 2007 budgeted EBITDA reach $50 million was waived. The press release says that AA did not have […]
Central European Media Enterprises (CETV) shares had an outstanding first quarter, gaining 26.4%. Part of the gains recouped a $5 decline from mid-November through year end, a bullish period for the market when CETV would be expected to outperform. Gains this year are tied to several factors. First, fourth quarter results were quite favorable and […]
As mentioned in my overview of the 2007 Prudential Midwest Media Day, I came away from my meeting with Disney (DIS) with increased confidence in the outlook for March quarter earnings. The March quarter represents 2Q07 for DIS and will be reported after the close on May 8th with a conference beginning at 4:30 EDT. […]
The underwriters of the National Cinemedia (NCMI) IPO launched coverage this week. NCMI is the largest company in the rapidly growing cinema advertising industry and is 22% owned by Regal Entertainment (RGC). RGC is widely held throughout the Northlake client base. In general, analysts are looking for modest additional upside in this well received IPO. […]
In what should be good news for Comcast (CMCSA/K), the Wall Street Journal reported in its Weekend Edition that Comcast is unhappy with its current relationship with Google (GOOG). Under an agreement that expires at year end, Google provides search for Comcast.net. According to the Journal, Comcast is actively shopping its internet search relationship with […]
Apple (AAPL) held up well during the market pullback and now is leading to the upside, trading at its highest price since the breakdown following the December quarter earnings report in mid-January. I’ve written endlessly on Apple, as you can see if you click the AAPL link immediately below, so for another perspective here is […]
BroadbandTV News yesterday noted an unconfirmed report in a local Russian newspaper that Central European Media Enterprises (CETV) was negotiating to enter the Russian TV market. The target is supposedly a music station that competes with MTV Russia. I have no idea if there is any truth to this rumor but if it were accurate, […]
Regal Entertainment (RGC) announced that it would be using a portion of the proceeds it received from the IPO of National Cinemedia (NCMI) to pay a special dividend of $2.00 to RGC shareholders. This action continues a pattern of special dividends paid by RGC which along with an annual dividend of $1.20 and modest appreciation […]
Echostar (DISH) reported very good 4Q06 earnings. EPS, revenue, and EBITDA were 34 cents, $2.6 billion, and $615 million compared to consensus estimates of 32 cents, $2.54 billion, and $603 million. There were a number of EBITDA estimates in the $590 million range as well. Subscriber metrics also looked very good. The bottom line is […]
I will likely have some follow-up comments on CETV after I check in with management and my key analyst contacts. Below is my commentary as written immediatley following completion of the conference call. The stock traded off because ivnestors are selling assets exposed to emerging markets risk. I think the quarter shows CETV is even […]
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