E.W. Scripps (SSP) reported better than expected 3Q06 earnings driven by strong performance from the company’s cable networks and political advertising at the company’s TV stations. The shares are up sharply in a weak tape as they deserve to be. Cable Networks and Interactive (Shopzilla and uSwitch) are about 2/3rds of SSP’s EBITDA and account […]
Yesterday’s New York Times had a major article about Ronald Lauder’s investment in Central European Media Enterprises (CETV). In an odd coincidence, the Wall Street Journal had an article the same day about the attractive television markets in Central and Eastern Europe. My good friend and major CETV shareholder, Mark Riely, was mentioned in both […]
On Friday, theflyonthewall.com, citing a report in Barron’s Online, noted that there was some meaningful insider buying at Sears Holding (SHLD) recently: A director at Sears Holding (SHLD) recently bought $5.5M worth of the company’s stock just as it was climbing to an all-time high. Richard C. Perry, the co-founder and president of Perry Capital, […]
Time Warner (TWX) closed at a 52 week high yesterday. In fact, it was the highest close since January 2005. I suspect that investors are looking ahead to 2007 and ignoring the poor performance of the total company in 2006. In 2007, the company’s fastest growing and largest division, cable distribution, will become an even […]
I finally had a chance to review all of the news stories and analyst reports about the Dolan family’s latest attempt to take Cablevision (CVC) private. My conclusion is that I think this deal will get done with a small sweetener. On the one hand, I can see good reason for the special committee of […]
NTL Incorporated (NTLI) shares have sold off the last few days, giving back most of the gains achieved after several management presentations at media conferences in the US during September. Investors responded favorably to the presentations in which management indicated that 3Q06 results would be satisfactory. This was welcome news following published reports of the […]
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 […]
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