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Stock Market & Financial Investment News

News Breaks
February 26, 2013
08:42 EDTCVC, DISH, AMCXAMC says DISH affiliate fees from Oct. 21, 2012-end 2013 $31M below fair value
AMC Networks (AMCX) stated, "As previously disclosed, on May 20, 2012, DISH Network (DISH) terminated carriage of Sundance Channel and on July 1, 2012 DISH Network terminated carriage of AMC, IFC, and WE tv. We believe the termination was directly related to litigation between DISH Network and VOOM HD. On October 21, 2012, DISH Network and the Company entered into a settlement agreement resolving the litigation. Simultaneously with the execution of the settlement agreement, DISH Network entered into a long-term affiliation agreement with the Company that provided for the resumption of carriage of AMC, IFC, Sundance Channel and WE tv by no later than November 1, 2012. The temporary carriage termination had a material impact to AOCF and operating income for the three months and twelve months ended December 31, 2012." AMC said, based on its fair value assessment of the affiliation agreement, the affiliate fees payable by DISH Network to the company from the effective date of the affiliation agreement of October 21, 2012 through December 31, 2013 are below fair value by approximately $31M and the affiliate fees payable by DISH Network over the remaining terms of the affiliation agreement represent fair value. As a result, AMC recorded the $31M excess of the fair value of the affiliation agreement over the contractual affiliation fees as deferred revenue on October 21, 2012, of which approximately $5M was recognized as revenue during 2012 as the programming services were provided. The remaining $26M is included in deferred revenue in the December 31, 2012 consolidated balance sheet and will be recognized ratably over 2013 as the programming services are provided.The company also said, in connection with the VOOM HD settlement agreement, DISH paid $700M to an account for the benefit of Cablevision Systems Corporation (CVC) and AMC Networks. Pending a determination of the allocation of the settlement proceeds, $350M of the cash proceeds was distributed to each of Cablevision and AMC. AMC stated, "The final amount to be allocated to the Company is yet to be determined and may be significantly less than $350M."
News For AMCX;DISH;CVC From The Last 14 Days
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February 11, 2016
12:12 EDTDISHFox, Dish settle suit over AutoHop service, Variety reports
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07:05 EDTDISHDISH spectrum value 'bordering on the absurd,' says Jefferies
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February 10, 2016
10:02 EDTAMCXHigh option volume stocks
High option volume stocks: OTEX STNG WU QEP DF CSTE CAKE AMCX AMTD BHI
05:53 EDTDISHTime Warner's HBO Now 'falling short of analyst expectations,' NY Post reports
HBO Now, Time Warner's (TWX) streaming service, is falling short of analyst expectations after getting off to a slow start, The New York Post reports. According to two pay-TV insiders, HBO Now had 800,000-1M paying subscribers at the end of 2015, below the 1M-2M subscribers Wall Street forecast. Netflix (NFLX) said last month that it had over 75M subscribers, while Sling TV, part of Dish Network (DISH), reported nearly 400,000 subscribers as of November. Reference Link
February 9, 2016
11:47 EDTCVCCablevision volatility flat into Q4 and update on Altice deal
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09:11 EDTDISHViacom sees affiliate revenue growth in low-mid single digit range
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February 8, 2016
11:01 EDTAMCXTV networks seen beating expectations thanks to strong ad market
The outlook for television networks is positive and investors should overweight the sector, research firm Pacific Crest wrote in a note to investors today. WHAT'S NEW: Pacific Crest analyst Andy Hargreaves recommended that investors own the shares of TV network owners 21st Century Fox (FOXA), Time Warner (TWX) and AMC Networks (AMCX). The companies' results should beat expectations, driven by a strong U.S. advertising market and stable pay TV subscriptions, he forecast. Moreover, given their "low elasticity, limited exposure to emerging markets and credit-fueled funding, and historically low valuations," the networks look "highly defensible," the analyst stated. Based on viewership data, 21st Century Fox, AMC and Scripps Networks (SNI) are best positioned to increase their ad revenue going forward, Hargreaves believes. Meanwhile, Fox and Scripps should benefit from strong viewership trends for sporting events, contended the analyst, who kept Overweight ratings on 21st Century Fox, Time Warner and AMC Networks, but maintained a Sector Weight rating on Scripps. WHAT'S NOTABLE: Hargreaves also kept a Sector Weight rating on CBS (CBS), but he recommended owning the stock in the near-term. The company's ad revenue should rise this year, driven by the Super Bowl and political spending, and its fourth quarter results could beat expectations on the back of strong ad revenue and content sales, the analyst predicted. Furthermore, CBS's content is well-positioned to be part of any significant bundle, and the stock's risk/reward ratio is positive, he wrote. PRICE ACTION: In late morning trading, Class A Fox shares slid 3%, AMC gave back 4.4%, Time Warner retreated 2.7%, and CBS and Scripps each fell about 4%.
09:24 EDTAMCXTV networks risk/reward ratio positive, says Pacific Crest
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06:47 EDTCVCNYC increases negative rhetoric over possible Altice, Cablevision deal, WSJ says
New York City is increasing its negative commentary of Altice's (ATCEY) proposed acquisition of Cablevision (CVC), the Wall Street Journal reported Friday, citing a filing with the state's regulator the New York Public Service Commission. According to the filing, the city said it has "serious concern" over the $10B proposed transaction and that it raises "key public interest questions," the report says. The city won't make a formal decision on the proposed transaction until early spring, the report says. Reference Link
February 5, 2016
09:04 EDTDISHDISH to open software development office in Denver, add 100 tech jobs
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February 1, 2016
09:11 EDTDISHDISH says releases Hopper 3 to customers nationwide
DISH Network (DISH) announced the availability of its award-winning Hopper 3 to customers nationwide. The third-generation of DISH's whole-home DVR system, Hopper 3 features 16 tuners, delivers an enhanced 4K experience and supports up to seven TVs simultaneously. In the coming weeks, Hopper 3 will launch the Netflix (NFLX) app and integrate Netflix titles into its universal search results.

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