Following three straight weekly declines, the box office rose 6.6% vs. a year ago this past weekend. The weekend is actually the first one of the fourth quarter. Consequently, I wanted to look back at the completed numbers for the third quarter. Despite the weakness exhibited in the final three weeks, the third quarter still […]
Yesterday, in the post immediately below, I mentioned that Disney (DIS), News Corp (NWS, NWS.a), and Time Warner (TWX) were all trading at 52 week highs. Departing from the doom and gloom that Dominates most discussion of media stocks, I laid out some big picture thoughts that might be driving the bullish action in the […]
Wow! Time Warner (TWX), Disney (DIS), and News Corporation (NWS, NWS.A) all made 52 week highs yesterday. On the one hand I shouldn’t be surprised because the Dow and S&P 500 are at multiyear highs. On the other hand, media stocks as a group have been pretty poor over the last few years with key […]
Investors have responded favorably to the nice price that Time Warner (TWX) received for its AOL access business in Germany. Citigroup is projecting total proceeds of $2 billion once all of the European access business is sold in the next few months. I consider that a good price, better than I expected, and enough to […]
ThinkSecret.com is reporting that Apple Computer (AAPL) will be launching a cell phone through Cingular early in 2007. The report says that Cingular will have a six month exclusive. This report is just a rumor and based on my own perusal of the ThinkSecret website I wouldn’t put a lot of stock in it. However, […]
Yesterday, Tribune (TRB) gave up about 25% of its gains since announcing a settlement with the Chandler Family and creation of a committee of independent directors to look at shareholder enhancement opportunities. Supposedly everything is on the table, including the spilt up or outright sale of the company. Investors expecting a big payday due to […]
Apple Computer (AAPL) shares have continued to rise following the introduction of Microsoft’s Zune music player. Apple has benefitted from growing recognition of the company’s outstanind momentum in Mac sales, excitement over the previewed iTV device, and the introduction of updated iPods for the holiday selling season. Additionally, the Zune has been met with a […]
Following a strong second-quarter earnings report and guidance that was deemed by many observers, including myself, as conservative, Dow Jones (DJ) shares rallied from $33 to $37. The rally stalled and reversed around Labor Day. Last Tuesday we learned why. DJ lowered its third-quarter earnings guidance to 8 cents-11 cents from a previous target in […]
I spent last Thursday at the annual analyst meeting for Central European Media Enterprises (CETV). The news was good as CETV slightly raised EBITDA guidance due to more rapid than expected improvement at TV Nova in the Czech Republic. Results at this station are the most critical aspect of the CETV story for the next […]
Time Warner (TWX) announced the details of its plan to slim down its magazine division. The company will sell 18 smaller titles in a deal expected to raise $300 million, according to an article in today’s Wall Street Journal. The big titles, including Time, Sports Illustrated and People, are staying put. The article quotes Anne […]
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