Fred, your message about TuneIn vs. NextRadio made me curious about the FM radio app that came standard with my HTC phone that I purchased from T-mobile a year and a half ago. I was assuming it was a streaming radio app of some sort, but when I fired it up, the alert message stated that I needed to plug in a headset to act as an antenna.
To my surprise, my old (what I consider now outdated) phone already had the FM chip enabled. I turned off Wi-Fi and mobile network access to be sure this was really pure FM and it is. It works good too. So I had the feature all along but didn't even know about it.
For a moment I was excited to think I could possibly use the Next Radio app for my non-Sprint phone, but, apparently it's not available through the play store for this model. I can use the FM portion of the phone but not
with the NextRadio app. Bummer.
Keep analyzing companies as a frozen picture instead of work in progress and good luck making money.
$8m FCF a year, rough, on a $243m EV is not all that attractive. At least not cheap...granted $75m debt is non-recourse, but I assume that is a part of the $8m FCF too...so.. I don't think I am highly motivated at this market cap ($100M). Need more debt pay down or lower price IMHO.
Thank you!! Was this a case were they tendered enough preferred and in turn changed the terms of the remaining class? I think it is a 2/3's needed? I believe this would survive if that is the situation. I have seen it done before and done constantly in pre-packs.
Thank you for saving some leg work as I wok further on the story.
"On the preferred, both sides filed motions for summary judgment and we’re hoping for a ruling in the next couple of months. If the motions are not granted, the case is set for trial in January. Given the court’s ruling last August, we’re very optimistic about our chances. This would then go to the federal district court. Judge Barker, who is a very esteemed federal jurist here, ruled really on our behalf in every conceivable manner. The plaintiffs, the preferred holders, get one more crack at the apple. They’ll get a chance in the 7th Circuit. If they prevail, then we’ll be back. If we prevail, this case ends. I assume the Supreme Court is not going to hear this one, but you never know.
Again, we feel very good. We don’t have a long history of a lot of litigation, but we will go very, very vigorously when we go. In both of these cases, we felt very strongly. We were vindicated in the lower courts in Hungary, and we’ve been vindicated in the federal district court on the preferred case, so we’re going on. I wish we didn’t have to spend the money, but we feel like that’s money we’ll get back if we prevail. Most people don’t look at this company as the benefit of those cases, but that’s sort of a hidden benefit of Emmis if we prevail and we feel good about it."
Does the preferred stock suit have merit? Is this a contingent liability for real??
i just listened to the call... i think the main reason for the decline is the reason that advertising revenue from next radio wont be seen for a while. They are still in the early stages... They said in 3-4 years they would like to be in 300 MIL cell phones. However they seem confident this will be a major increase in revenue stream when the time comes.
....higher political in year ago (this year is an off election year), and event that tickets didn't sell out for this year, and the growth in the quarter just reported would have been similar to the previous quarter, and income would have been much bettter.
Same goes for the quarter we just entered (backing out political from last year...and you get a much more respectable growth rate anticipated in the "core" biz).
I'll put it back on strong buy, if it somehow retraces to $2.00-2.05, in the "panic" we've been witnessing here.
It's pretty clear from their public statement, that once the leverage gets down to 2.5x or less, by next year some time, that they would be inclined to buy back stock, or pay a dividend. And if the stock is in the low $2's, I feel highly confident on which option they would choose.
Ceo mentioned that down the road (2014) allocation of capital will most likely be stock repurchase or dividend. Yet market is not recognizing the bullish implications of such statement. Specially, if there is a move to a buy back program. That will add real credibility in my book. Today, he was unconvincing.
I have read CC transcript and see no particular reason for the sell off.
Did you listen to conference call? I did not as employment intervenes. Would love to hear your analysis.
And major pfd holder Zazove was buying common shares at $2.70'ish, a couple weeks ago.
And now we're at $2.36?? Have to believe, apart from any tax related selling from the CEO, that more buying by insiders and major institutions is in the cards, so-so earnings release notwithstanding.
66 mill in NOLs!
NextRadio 10 mill phones in a year of launch. Not exclusive with Sprint. Target 300 mill phones.
Stock repurchase / dividends most likely in the future.
LTF, the plan was stated in Smulyan's filing on 9/17. He had already sold 25,000 shares....so now a total of about 30,000.
Per a 10b5-1 plan, he may sell up to 250K or so shares of common stock...and already sold 4800.
BUT...he specifically states in the filing that the sales enable him to realize certain tax benefits in calendar year 2013. My GUESS is that he may be carrying some high cost basis stock, in which selling now allows him to realize irresistibly large capital losses....and offset taxable income (and therefore taxes) he would have to pay for the year 2013. (In this context, I presume he will effect all of the sales of the 250K of common stock, before the end of this calendar year.)
Upshot: If this filing results in a major decline for the stock, I will be buying.
Exactly on ZLC RE Christmas. I could be wrong and haven't bothered to look it up but I'm pretty sure ZLC ran up heading into the Christmas season last year and then sold off in January. Buyers may be anticipating the same thing this year. The meteoric rise of that stock is baffling. Clearly, it is "priced to perfection," as the saying goes and the fall -- if and when it comes -- could be ugly. Just to stay on topic -- EMMS could return 30 percent plus just by returning to recent highs. I'm lking the risk/reward picture here.
nice job on Zale. You may have gotten out too late, from a risk perspective...especially if you didn't start selling ANY until the teens.....but I got out too early also. although i'm not crying. I think ZLC is short term overextended....unless they have a bang up xmas.
Gotcha. I have some capital, hence the reason for asking. By the way, these profits came from positively ENORMOUS gains from ZLC that would not have happened for me without you, so thanks. We're talking sub-$3 purchases sold at $13.50-ish. Yeah, I left some money on the table there. Could have had $15.50-ish but hey, a guy can't afford to be greedy, right?! Just kidding. I know I held way longer than you thought advisable. (Under your system, anyway.) In retrospect, I know I did hold too long but came out smelling like a rose anyway. (Through shear good luck, not skill.) I have an old position in EMMS at a very low price but am thinking about adding some shares to trade around it. We will see what the Washington nonsense hands me in the way of depressed prices Monday and Tuesday. Thanks again and keep opining.