Earnings season for media companies began in earnest last week and really picks up this week. Among major companies, CBS, Time Warner, Viacom, and Comcast report this week. Smaller companies reporting include Northlake long positions Rogers Communications and Central European Media Enterprises, as well as Dreamworks Animation. There were a couple of noteworthy reports last […]
Over the weekend, the Wall Street Journal reported that Providence Equity was taking a control position in shopping comparison website Nextag.com. Nextag is the #2 shopping comparison website, trailing, Shopping.com. The #3 shopping comparison site is Shopzilla.com, owned by E.W. Scripps (SSP). SSP shares have rallied on takeover speculation due to similarities with Dow Jones […]
E.W. Scripps (SSP) reported in line 1Q07 earnings but guidance for 2Q and implied guidance for 2007 is well below street estimates. In my preview I suggested that estimates could come down and that the stock would be attractive in the $30s. It looks like we might get a chance to buy at that level. […]
E.W. Scripps (SSP) shares are deservedly down sharply following poor 1Q07 guidance issued in association with its 4Q06 earnings report. A re-evaluation of the prospects and valuation for the company’s Interactive division is also hurting the shares. Finally, management backed away from comments made at a conference earlier this month that it might have interest […]
E.W. Scripps (SSP) is trading at a 52 week high following the company’s announcement that it is considering alternatives for its newspaper business. This is a big change for SSP which has denied for many years its interest in divesting its newspapers or TV stations. Newspapers represent a little over 20% of SSP’s 2007 estimated […]
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 […]
E.W. Scripps (SSP) shares should rebound after the company reported better than expected 2Q06 EPS and provided guidance in line with current expectations. Most importantly, guidance for 2H06 advertising growth at Scripps Networks was not as bad as I and others had feared. Upside for SSP is limited, however, due to the premium valuation relative […]
E.W. Scripps (SSP) reported better than expected 1Q06 earnings. The shares are adding another $1 onto yesterday’s gains of $1. Whoever was buying yesterday in anticipation of a good report is being rewarded. I think the gains over the last day and a half will hold but I believe upside is limited due to SSP’s […]
I am leaning more bullishly on the shares of E.W. Scripps (SSP) ahead of its 1Q06 earnings due tomorrow before the open although my recent visit with the company at Prudential’s Midwest Media day slightly dampened my enthusiasm. I’ve always liked SSP but I have been out of the stock for a couple of years […]
E.W. Scripps (SSP) shares are responding very favorably to the company’s 4Q05 earnings report. I think three factors are at work. First, EPS came in above expectations at 54 cents vs. consensus of 49 cents. Second, the company announced that it is considering strategic alternatives for its home shopping business, Shop At Home. Third, Shopzilla […]
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