One impact on the on the cable companies of the AT&T (T) – BellSouth (BLS) merger that I did mention in my previous post was wireless telephony. As has been widely discussed, one of the driving forces behind the T-BLS merger is the consolidation of Cingular wireless with T and the rebranding of the service […]
As a follow-up to my earnings coverage of Central European Media Enterprises (CETV), I wanted to mention that my spreadsheet now assumes 20% segment level EBITDA growth for 2006 to $237 million. EPS, using a very non-GAAP formula comes out at $2.20. For 2007, I think 15% EBITDA growth is easily achievable, with EPS potentially […]
Some observations and thoughts related to cable and media on the AT&T (T) – BellSouth (BLS) merger after reading through all the stuff that my email inbox: • I’ve been bullish on Comcast (CMCSA/K) using a thesis that the shares had room to rise as long as the window remained open for a year or […]
Central European Media Enterprises (CETV) reported better than expected operating results for 4Q05. Segment revenue of $173 million slightly exceeded management guidance of $171 million. Analyst estimates were generally in line with guidance. EBITDA of $70 million easily exceeded guidance of $58 million. Analyst estimates for EBITDA were slightly above guidance but still under $60 […]
Cablevision (CVC) shares are up sharply after the company reported better than expected 4Q05 results and announced 2006 guidance for its cable division that is above current analyst estimates. As the conference call begins, CVC shares are up 5% and dragging Comcast (CMCSA/K), up over 1% along for the ride. Wall Street may hate cable […]
Central European Media Enterprises (CETV) reports before the open on Thursday. I remain optimistic about the shares with the caveat that quarterly are quite volatile particularly on a country-by-country basis. If my forecast for 13% revenue growth and over 18% EBITDA growth in 2006 receives support from management, I think my target in the low […]
One week ahead of its March 2nd 4Q05 earnings report, Central European Media Enterprises (CETV) announced an increase in its ownership of its operations in Romania. In a negotiated agreement with its partner, CETV is paying $27.2 million for an additional 5% stake in Pro TV. CETV will now own 90% of Pro TV. The […]
The market has reacted coolly to the settlement between Time Warner (TWX) and Carl Icahn as TWX shares given up all their gains since the company reported earnings and the Icahn-Lazard report was released. I think the additional debt funding a larger share buyback is incrementally positive for TWX shares, especially if visibility for upper-single […]
Clear Channel (CCU) shares have given back most the gains which followed the solid 1Q06 guidance the company provided with its 4Q05 earnings report. In my summary of the earnings, I said a brief rally in CCU shares could occur. I didn’t think it would quite this brief. Three issues continue to trouble the shares. […]
Clear Channel (CCU) reported slightly worse than expected 4Q05 earnings with EPS and revenues just short of estimates. However, everyone was expecting a weak 4Q05 so that is not news. The real news is that the company confirmed 1Q06 pacings at 2.9%, better than feared following recent revelations by other operators about 1Q06 guidance. The […]
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