As noted in Part One, the main message coming out of the conference that was that advertising continues to deteriorate and visibility into 2009 is minimal. This means that for most media companies the risk remains to the downside for earning estimates. Part One contained a reasonable positive review of Time Warner and Discovery Communications, […]
I spent Wednesday in NY while sitting at my desk in Chicago. In a sing of the times, I skipped the UBS Media Conference in a cost saving measure. I’ve gone many years in a row to this well run event. Fortunately, modern technology means I can still “Attend” although the upside in these soirees […]
Some fun news from news the world of media: According to the most recent issue of Sports Illustrated, demand for Super Bowl advertising is not showing any weakness. NBC has sold 59 of the 67 30 second spots for an average of $3 million each about the same pace as FOX for last season’s game. […]
Big news in the world of media comes from NBC where Jay Leno will be on NBC 46 to 48 weeks per year every weeknight at 10 PM ET. Jay is giving up The Tonight Show to Conan O’Brien in June. The re are a lot of moving parts but this move is being driven […]
With the conventions and the Olympics over, the next big event in the TV world is the launch of the fall TV season. Things have been kind of quiet on this front which I had thought was due to the poor advertising environment. However, a recent preview by Goldman Sachs may have a better explanation: […]
Given all the market volatility and really important macro issues, sometimes I feel bit odd writing about mundane fundamental factors for media stocks but maybe focusing on the micro is a useful distraction. A couple of days ago news broke that Google has reached with NBC to access TV ad inventory across a wide array […]
The world of TV transitioned from the Olympics to the political conventions over the past week. The ratings of each event provide some insight to investors. Broadcast networks (ABC/Disney, CBS, FOX/News Corp, and General Electric/GE) are still the only place where really large audiences can be reached. This is true for event programming or nightly […]
By now everyone knows that NBC’s Olympic coverage produced great ratings, the best since TV truly became multichannel as opposed to just a three or four channel nightly option for viewers. Press reports also indicate that ad demand picked up as the games were going enabling NBC produce a profit of as much as $100 […]
The media biz never rests. Even on a holiday weekend. NBC Universal is buying The Weather Channel for $3.5 billion from privately held Landmark Communications. With NBCU buried in General Electric, the stock impact stretches to other media companies. First, Time Warner at one time was in the running. TWX has tons of cash coming […]
Media stocks continue to act poorly. When I sold Northlake’s positions in Disney and News Corporation on the last trading day in May I was beginning to see more evidence that the deep recession in local advertising media like newspapers and radio was beginning to spread to national advertising such as TV. I had also […]
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