Disney (DIS) continues to act better than any other mega cap media stock. I think there are three reasons behind the good action. First, Bob Iger has clearly laid out a content driven strategy and acted to make it happen by divesting radio and acquiring Pixar (PIXR). Second, all of DIS’s divisions will be growing […]
On Monday, SBS Broadcasting (SBTV) shareholders approved the deal to sell the company to private equity investors for 46 euros per share. According to the press release issued by the company, the deal is expected to close in late October. Sometime later this month, before final closing, the company will establish a record date for […]
I received the circular on the buyout of SBS Broadcasting (SBTV) earlier this week and based on my reading I am continuing to hold the shares owned by clients hoping for another bidder to emerge. As a reminder, SBTV has agreed to a buyout offer from private equity investors led by European group Permira and […]
SBS Broadcasting confirmed recent market rumors and announced this morning that it was accepting an unsolicited 46 Euro ($56) buyout offer from a European private equity firm. Below please find my comments as I was conducting my analysis beginning with my thoughts prior to the open of trading and finishing up with my conclusions after […]
SBS Broadcasting (SBTV) shares jumped about 8% on Monday after a website reported that the company had held “informal discussions” with an unnamed suitor. The story said that a spokesman for SBS had no comment on rumors or speculation. I think a takeover of SBTV is plausible and while the primary reason behind my bullish […]
I had to jump in a car to head East on some college visits with my son and didn’t get a chance to provide some color on the SBS Broadcasting (SBTV) conference call that took place on July 28th. As the call started at 10 a.m. ET, the shares were down sharply by almost $3. […]
SBS Broadcasting (SBTV) reports after the close tomorrow followed by a Friday morning conference call. I remain long SBTV and expect another strong earnings report. The shares look very attractive and are my #1 pick in media at the moment. SBTV’s 1Q05 earnings report was very strong. However, despite repeated leading questions from analysts the […]
Several recent news stories have noted that SBS Broadcasting’s (SBTV) TV stations in the Netherlands are facing a new competitor as Dutch media mogul Jon de Mol launches his own channel. The Netherlands is 20% of SBTV so this is something to watch. Interestingly, a research report out of Europe today references other news stories […]
SBS Broadcasting(SBTV) reported excellent first quarter earnings on Monday. Driven by better than expected organic revenue growth in the company’s television operations, EBITDA exceeded estimates coming in at 8.1 million euros. Management affirmed prior guidance for 138 million euros EBITDA for 2005. On the call analysts asked many questions that tried to get management to […]
SBS Broadcasting (SBTV) shares have been acting very well recently, making a 52-week closing high on Monday. On Friday, Bear Stearns wrote about SBTV for the first time in many months, updating estimates and raising the price target to $51. Bear Stearns issued a 56-page report, so essentially this is new coverage. There is virtually […]
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