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March 11, 2014
07:49 EDTTRLA, ETM, EVC, FOX, CMLS, TWTC, DWRE, CVC, CBS, CTL, SFXE, AOL, EQIX, LYVDeutsche Bank to hold a conference
22nd Annual Media, Internet & Telecom Conference is being held in Palm Beach, Florida on March 10-12 with webcasted company presentations to begin on March 11 at 7:50 am; not all company presentations may be webcasted. Webcast Link
News For CBS;FOX;EQIX;CVC;EVC;AOL;DWRE;ETM;SFXE;TWTC;TRLA;CTL;CMLS;LYV From The Last 14 Days
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August 25, 2015
10:01 EDTCBS, CVCCablevision, CBS reach new comprehensive content carriage agreement
Cablevision Systems Corporation (CVC) and CBS Corporation (CBS) announced a broad-based multi-year content carriage agreement. The new deal covers retransmission consent for CBS-owned stations, and the continued carriage of SHOWTIME(R), CBS Sports Network and Smithsonian Channel. Financial terms were not disclosed. As part of the new agreement, Cablevision is the first cable or satellite provider to announce plans to distribute CBS All Access and SHOWTIME Internet services to its Optimum Online customers. Pricing plans, timing and other particulars will be provided at a later time.
August 24, 2015
09:45 EDTFOXOn The Fly: Analyst Downgrade Summary
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08:48 EDTEQIXEquinix management to meet with Gabelli
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August 23, 2015
16:22 EDTFOX'Straight Outta Compton' finds little contention for No. 1 box office spot
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August 21, 2015
13:11 EDTFOXFly Watch: 'Straight Outta Compton' eyes second weekend at top spot
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08:53 EDTCBSAfter rough week, Disney shares expected to recover
With fears of cord cutting and declining advertising rates consuming the minds of investors and analysts this week, Disney (DIS) shares have dropped 7% over the past five trading days. Stepping out of the growing pack of bearish analysts is FBR Capital's Barton Crockett. ROUGH WEEK: On Tuesday, Wells Fargo analyst Marci Ryvicker downgraded her rating on Disney (DIS), CBS (CBS), 21st Century Fox (FOXA) to Market Perform from Outperform. None of the large media companies reported that their revenue from cable stations or broadcast networks increased in the most recent quarter, Ryvicker told investors. TV distributors have more favorable characteristics than the media companies, she argued. Then on Thursday, Bernstein analyst Todd Juenger downgraded Disney (DIS), along with Time Warner (TWX), to Market Perform from Outperform. The move by viewers away from ad-supported platforms to non-ad-supported services like Netflix (NFLX) will bring a "prolonged structural decline" to the U.S. television industry, Juenger contended. PATH TO RECOVERY: Sentiment is driving Disney and the media stocks lower, FBR Capital's Barton Crockett tells investors this morning in a research note titled "Performance Is the Best Defense: How Disney, Near Term, Can Separate from Peers." Cord cutting and advertising fears are taking down the valuation multiples in the media sector, but consensus earnings estimates are little changed, the analyst writes. Cord cutting is the term used to describe the dropping of cable or satellite TV in favor of an online streaming service. Crockett sees a number of "performance positives near term" that can help shares of Disney recover. The owner of ESPN can separate itself from peers with solid second half of 2015 advertising trends when football returns, he believes. Disney can also benefit from the retail push for Star Wars movie merchandise, starting with a midnight door-buster national product launch on September 4, the analyst writes. PETER OUT: Crockett expects cord-cutting fears to "peter out." Cable bundles broadband with TV, and most households have a sports fan, he points out. While Netflix takes audiences from non-sports content, sports will save the bundle subscription model that benefits Disney's ESPN unit, Crockett thinks. He has an Outperform rating on Disney with a $124 price target. The stock closed yesterday down $6.44, or 6%, to $100.01. Over the past three months, Disney is down over 9%.
August 20, 2015
10:00 EDTDWREOn The Fly: Analyst Initiation Summary
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09:17 EDTCBSDisney hit with another downgrade on TV concerns
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07:12 EDTDWREDemandware initiated with a Positive at Susquehanna
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06:36 EDTCBSBernstein cuts Disney, Time Warner with TV entering 'structural decline'
Bernstein analyst Todd Juenger downgraded his rating on both Disney (DIS) and Time Warner (TWX) saying the U.S. television industry is entering a period of "prolonged structural decline." With viewers moving away from ad-supported platforms to non-ad-supported, media companies with the least exposure to U.S. advertising represent the most favorable investments, Juenger tells investors in a 48-page research note on the Media sector. The analyst moved both companies to a Market Perform rating from Outperform, and lowered his price target for Disney to $114 from $125 and for Time Warner to $90 from $101. He called the downgrade of Time Warner a "very close call" as his new price target still represents 15% upside from current levels. Share performance in the entire Media sector will be challenged until the content owners take steps to "reclaim on-demand viewing" from streaming services like Netflix (NFLX) and use it to protect affiliate fees, Juenger argues. His Outperform-rated names are Nielsen (NLSN) and 21st Century Fox (FOXA). Along with Time Warner and Disney, the analyst has Market Perform ratings on AMC Networks (AMCX), CBS (CBS), Scripps Networks (SNI) and Discovery (DISCA). Juenger has an Underperform rating on Viacom (VIAB). Wells Fargo on Tuesday also downgraded Disney to Market Perform. Piper Jaffray this morning told investors that the recent pullback in shares of AMC Networks brings a "great" entry point into the name.
August 18, 2015
10:17 EDTCBSDisney downgraded as Wells moves away from content providers
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10:00 EDTCBS, SFXEOn The Fly: Analyst Downgrade Summary
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10:00 EDTETMOn The Fly: Analyst Upgrade Summary
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07:13 EDTCBSCBS downgraded to Market Perform from Outperform at Wells Fargo
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07:12 EDTCBSDisney downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded Disney (DIS) to Market Perform with a $112-$119 price target range saying value is shifting from content to distribution. Wells also downgraded CBS (CBS) and 21st Century Fox (FOXA) this morning to Market Perform while cutting its Diversified Media sector view to Market Weight. Time Warner (TWX) remains its only Outperform-rated media stock. Shares of Disney closed yesterday up $1.88 to $109.05.
07:05 EDTSFXESFX Entertainment downgraded to Sell from Hold at Stifel
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07:01 EDTETMEntercom upgraded to Outperform from Market Perform at Wells Fargo
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August 17, 2015
20:09 EDTCVCCable companies test virtual reality offerings, Variety says
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08:02 EDTSFXESFX Entertainment CEO reaffirms commitment to taking company private
Robert F.X. Sillerman, CEO and Executive Chairman of the Board of Directors of SFX Entertainment, reaffirmed his intention to provide a revised offer for all of the company's common shares not owned by him or his affiliates, in a manner that reflects the reality of where the stock has traded since his original and subsequently revised offers to purchase those shares. Shares of SFX have experienced a decline of more than 62 percent during the period spanning the close of the market on February 24, 2015 - the final day of trading prior to the public disclosure of Mr. Sillerman's initial offer to purchase the above-cited shares - and the market close on August 14, 2015. That percentage decline represents a drop in the closing price of SFX shares from $3.70 to $1.39, the latter being the lowest closing price on record for SFX, which began publicly trading in 2013. Mr. Sillerman indicated that he was optimistic that a revised going-private offer would be successfully consummated. SFX has in place a special committee of independent directors to consider a revised proposal submitted by Mr. Sillerman and make a recommendation to the full Board. The company announced on August 14, 2015 that it had agreed with Mr. Sillerman to keep open a bidding period for the company until October 2, a period that would include the firm's peak festival season. Mr. Sillerman noted that he and his financial advisors are continuing to examine options, including the possible involvement of strategic partners.
August 16, 2015
16:59 EDTFOX'Straight Outta Compton' sidesteps rivals in $56.1M weekend debut
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