One of the theories behind breaking up Tribune (TRB) is that the broadcast television assets are worth a significant premium to the current valuation of TRB shares. Recent TV station sales support this idea but an article last week in the Wall Street Journal there outlined the pressure that local TV stations are feeling. It […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2006-06-19 09:30:432006-06-19 09:30:43Is There Excess Value At Tribune?
On Thursday, LionsGate Entertainment (LGF) reported mixed 4Q06 results and announced 2007 guidance which was inline with expectations. The shares are responded well initially, rising more than 3%. After almost a year of disappointing financial results, I think the rally in the shares is more a function of relief than the result of any important […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2006-06-16 09:34:382006-06-16 09:34:38Lionsgate Earnings and Guidance Provide No Catalyst
Earlier this week, the 1Q06 GDP report in Japan was revised. Several statistics noted in this Bloomberg article article discussing the report support my bull case on Japan. GDP grew by a healthy 3.1% in 1Q06, revised upward from 1.9%. Corporate spending rose at its second fastest rate since 1990. Machinery orders were up almost […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2006-06-16 09:28:102006-06-16 09:28:10Japan’s GDP Report Supports Bull Case
On top of the slightly weaker than expected opening for Cars, Disney caught a downgrade from Citigroup which has the shares down about 3% this morning. However, the downgrade had nothing to do with Cars. Rather it was totally predicated on the analyst’s expectation that theme park revenues and operating income would fall well short […]
After raising cash and reducing risk exposure by selling positions in the Central Europe and Russia Fund (CEE), (down a stunning 20% since the sale last Monday morning), reducing some holdings of the Russell 2000 (IWM), and swapping from small and mid caps to large caps, I decided to put a little money back to […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2006-06-12 10:19:002006-06-12 10:19:00Increasing Positions in Japan
Cars opened at the low end of expectations with $63 million failing to provide a catalyst I had been counting on for Disney (DIS). I think the opening will hurt sentiment for DIS stock because it will make it easy for naysayers to get traction with the “they overpaid for Pixar” theme. However, DIS shares […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2006-06-12 09:57:022006-06-12 09:57:02Cars Not Quite As Good As Expected; Overall Box Office Up Again
The Wall Street Journal had another front page article on Thursday about Tribune (TRB), followed by a Heard on the Street column on Friday. Both articles suggest a potential restructuring or sale of Tribune (TRB) might be more likely than I had assumed. My key takeaway from the latest articles is that TRB’s future could […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2006-06-09 12:31:112006-06-09 12:31:11The Journal Stays on the Tribune Case
The Wall Street Journal reported on Wednesday about some interesting developments at Tribune (TRB). The three Board members nominated by the Chandler family voted against the company’s plan to buy back 25% of the shares outstanding. The Chandler family controls 12% of TRB shares that were acquired via their sale of Times Mirror. It is […]
Disney (DIS) made a new 52 week high in Monday’s abysmal market, likely anticipating this coming weekend’s opening of Cars. I think the Cars hype is also helping Regal Entertainment (RGC) which has performed relatively strongly the last few sessions. Northlake remains long both stocks although DIS is approaching my target for considering a sale. […]
This story from BroadbandTVNews.com caught my eye: The Serbian Pink media group has set its sights on the Croatian national commercial station Nova TV. Speaking during a visit to Zagreb, the group’s owner Zeljko Mitrovic said he had sent a letter of intent to the owners of Central European Media Enterprises (CETV) backed Nova TV […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2006-06-05 14:30:372006-06-05 14:30:37Central European Media Enterprises: Croatia For Sale?
Is There Excess Value At Tribune?
One of the theories behind breaking up Tribune (TRB) is that the broadcast television assets are worth a significant premium to the current valuation of TRB shares. Recent TV station sales support this idea but an article last week in the Wall Street Journal there outlined the pressure that local TV stations are feeling. It […]
Lionsgate Earnings and Guidance Provide No Catalyst
On Thursday, LionsGate Entertainment (LGF) reported mixed 4Q06 results and announced 2007 guidance which was inline with expectations. The shares are responded well initially, rising more than 3%. After almost a year of disappointing financial results, I think the rally in the shares is more a function of relief than the result of any important […]
Japan’s GDP Report Supports Bull Case
Earlier this week, the 1Q06 GDP report in Japan was revised. Several statistics noted in this Bloomberg article article discussing the report support my bull case on Japan. GDP grew by a healthy 3.1% in 1Q06, revised upward from 1.9%. Corporate spending rose at its second fastest rate since 1990. Machinery orders were up almost […]
Disney Downgraded at Citigroup
On top of the slightly weaker than expected opening for Cars, Disney caught a downgrade from Citigroup which has the shares down about 3% this morning. However, the downgrade had nothing to do with Cars. Rather it was totally predicated on the analyst’s expectation that theme park revenues and operating income would fall well short […]
Increasing Positions in Japan
After raising cash and reducing risk exposure by selling positions in the Central Europe and Russia Fund (CEE), (down a stunning 20% since the sale last Monday morning), reducing some holdings of the Russell 2000 (IWM), and swapping from small and mid caps to large caps, I decided to put a little money back to […]
Cars Not Quite As Good As Expected; Overall Box Office Up Again
Cars opened at the low end of expectations with $63 million failing to provide a catalyst I had been counting on for Disney (DIS). I think the opening will hurt sentiment for DIS stock because it will make it easy for naysayers to get traction with the “they overpaid for Pixar” theme. However, DIS shares […]
The Journal Stays on the Tribune Case
The Wall Street Journal had another front page article on Thursday about Tribune (TRB), followed by a Heard on the Street column on Friday. Both articles suggest a potential restructuring or sale of Tribune (TRB) might be more likely than I had assumed. My key takeaway from the latest articles is that TRB’s future could […]
Interesting Developments at Tribune
The Wall Street Journal reported on Wednesday about some interesting developments at Tribune (TRB). The three Board members nominated by the Chandler family voted against the company’s plan to buy back 25% of the shares outstanding. The Chandler family controls 12% of TRB shares that were acquired via their sale of Times Mirror. It is […]
My Expectations for Disney’s Cars
Disney (DIS) made a new 52 week high in Monday’s abysmal market, likely anticipating this coming weekend’s opening of Cars. I think the Cars hype is also helping Regal Entertainment (RGC) which has performed relatively strongly the last few sessions. Northlake remains long both stocks although DIS is approaching my target for considering a sale. […]
Central European Media Enterprises: Croatia For Sale?
This story from BroadbandTVNews.com caught my eye: The Serbian Pink media group has set its sights on the Croatian national commercial station Nova TV. Speaking during a visit to Zagreb, the group’s owner Zeljko Mitrovic said he had sent a letter of intent to the owners of Central European Media Enterprises (CETV) backed Nova TV […]