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Stock Market & Financial Investment News

News Breaks
June 25, 2014
10:28 EDTCBS, SBGI, NXST, GTN, MEG, DIS, FOXA, CMCSABroadcasters jump after Supreme Court rules against Aereo
The Supreme court ruled 6-3 in favor of television network owners and against Aereo, which sells a service that allows its subscribers to watch television programs over the Internet at about the same time as the programs are broadcast over the air. WHAT'S NEW: Television broadcasters that own the copyrights in many of the programs that Aereo streams sued the service for copyright infringement. A district court previously denied an injunction against Aereo that was sought by television networks and the Second Circuit affirmed, but the Supreme Court ruled that "Because Aereo’s activities are substantially similar to those of the CATV companies that Congress amended the Act to reach, Aereo is not simply an equipment provider." PRICE ACTION: Following the Supreme Court ruling against Aereo and in favor of broadcast TV network owners, shares of CBS (CBS) are up more than 5%. Shares of Disney (DIS), which owns ABC Network, are up 1.4%, 21st Century Fox (FOXA), the owner of Fox, is up 1.6% and Comcast (CMCSA), which owns NBC, is up 1%. Meanwhile, owners of television stations are up as well, with Sinclair Broadcast Group (SBGI) up 14%, Nexstar (NXST) up 12%, Media General (MEG) up 6% and Gray Television (GTN) up 4.6%. Reference Link
News For CBS;SBGI;NXST;GTN;MEG;DIS;FOXA;CMCSA From The Last 14 Days
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August 28, 2014
07:32 EDTCBSCBS, LIN Media sign deal to renew station affiliation agreements
CBS (CBS) announced a deal with LIN Media (LIN) to renew existing station affiliation agreements for 12 LIN stations in ten markets nationwide.
07:30 EDTCBSLIN Media, CBS renew network affiliation agreements in 10 markets
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07:26 EDTDISDisney submits patents for drones for entertainment uses, NY Post says
Disney has filed three patents for entertainment strategies that employ drones, such as the use of unmanned flying vehicles to move giant puppets, according to The New York Post. Reference Link
August 27, 2014
11:56 EDTCMCSANY Governor Cuomo orders investigation of Time Warner Cable outage
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August 26, 2014
14:45 EDTDISESPN says Verizon signs deal to carry SEC Network
Verizon (VZ) FiOS has signed an agreement to carry the SEC Network and expects to begin airing it prior to Aug. 28, Disney's (DIS) ESPN announced. The deal also includes live viewing rights and additional live and on-demand content scheduled for SEC Network + across other platforms like smartphones, tablets and laptops. In addition, the deal also includes rights for the FiOS Mobile app, which will be available to FiOS customers in the near future. Terms of the deal were not disclosed.
10:51 EDTCMCSAZoom Telephonics files FCC petition opposing Charter's cable modem policies
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09:35 EDTFOXA, DIS, CMCSANetflix files formal protest against Comcast merger, Engadget reports
Netflix (NFLX) has filed a petition to the FCC against the proposed merger between Comcast (CMCSA) and Time Warner Cable (TWC), as the streaming company has previously indicated it would, reported Engadget. Netflix claims the deal would result in "serious public interest harm" and that a merged cable giant would have huge leverage over it and rivals like Hulu, which is a joint venture owned by Comcast itself along with partners Disney (DIS) and 21st Century Fox (FOXA). Reference Link
August 25, 2014
19:00 EDTCMCSADISH Network petitions FCC to deny Comcast, Time Warner merger
Citing irreparable harm to competition and consumers, DISH Network (DISH) petitioned the Federal Communications Commission, or FCC, to deny the merger of Comcast (CMCSA) and Time Warner Cable (TWC). The petition to deny outlines, among other things, the critical role high-speed broadband plays in the video industry and the potential for the merger to significantly damage competitive development of over-the-top video and limit consumer access to online video programming.
14:51 EDTGTN, FOXAGray Television renews all Fox affiliation agreements
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10:44 EDTCBS, GTNGray Television renewal with CBS removes overhang, says Wells Fargo
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08:31 EDTCBS, GTNCBS, Gray Television sign affiliation deal
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06:20 EDTCMCSAFCC seeks more data from Comcast regarding TWC deal, Reuters says
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August 22, 2014
05:58 EDTCMCSAComcast launches streaming TV services for college campuses, WSJ reports
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August 21, 2014
09:04 EDTSBGISinclair Broadcast announces launch of original programming division
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06:20 EDTMEG, CBSCBS seeking bigger share of pay-television revenue from affiliates, WSJ reports
CBS last week stripped an Indianapolis station of its affiliation due to a fee disagreement as it seeks a bigger share of pay-television revenue, reports the Wall Street Journal. The Indianapolis station's owner LIN Media (LIN) was set to be acquired by Media General (MEG) for $1.6B this year, but Media General cut its acquisition price Wednesday by 7%, or more than $100M, with the move from CBS cited as one of the reasons. According to Gabelli & Co., the lack of a CBS affiliation may cost the statio tens of millions of dollars in annual revenue to decline. Reference Link
August 20, 2014
11:22 EDTMEG, SBGISinclair Broadcast agrees to swap TV stations with Media General
Sinclair Broadcast Group (SBGI ) announced that it has entered into a definitive agreement to purchase the broadcast assets of one television station in Providence, RI owned by Media General (MEG), two television stations in Green Bay, WI owned by LIN Media (LIN) and one television station in Savannah, GA owned by WTGS Television and operated by LIN through a shared services arrangement. The three markets represent 1.2% of U.S. television households. Simultaneously, Sinclair will sell Media General the broadcast assets of three stations in two markets upon the completion of the LIN/Media General merger. The company's previously announced sale of WHTM in Harrisburg is expected to close in September. The combination of all stations being sold to Media General represents 1.9% of U.S. television households.In addition and as part of the transactions, Sinclair will pay a net cash price of $31M for an additional $3.4M of cash flow being swapped. In addition, the company expects to generate an additional approximately $2M of synergies on the acquired stations.
11:17 EDTMEGMedia General, LIN Media announce agreements to divest TV stations in 5 markets
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11:16 EDTMEGMeredith buys broadcast assets of WALA-TV from Media General
Meredith Corporation (MDP) announced a definitive agreement to purchase the broadcast assets of WALA-TV, the Fox affiliate in Mobile, Pensacola from Media General (MEG) for approximately $86M, subjectto certain purchase price adjustments. The transaction will close when Media General's merger with LIN Media LLC and the sale of WALA to Meredith receive final regulatory approval. The acquisition of WALA is not expected to have a material effect on Meredith's 1H15 financial performance. Meredith continues to expect 1Q15 EPS to range from 60c-65c, compared to 53c in the prior-year period.
09:19 EDTMEGMedia General and LIN Media to host joint conference call
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08:46 EDTMEGMedia General, LIN Media announce amendment to merger agreement
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