Closed Friday at $16.63 so I'm not concerned. Looks like a healthy pullback to me. We'll see over the next few trading days.
Here is an excerpt from last week's conference call. David Cohen from Midwood Capital chews out management for being unprepared. At least Marshall Morton is gone as he nearly bankrupted the company. Now Sadusky needs to unload the CFO Jim Woodward.
And our next question comes from Dave Cohen of Midwood Capital.
Dave Cohen - Midwood Capital
Hi, this is more of a suggestion than a question, which is given the lack of the ambiguity around sort of what this company looks like the inability from very, very experienced and knowledgeable analyst that actually hone in on the financial profile of the company near-term, I think management needs to take a very hard look at how it communicates what’s the profile of this company is.
I think there is some potential for very, very compelling free cash flow here. But it is really lost certainly in the first quarter as expected results and in the messiness that was just exhibited and it can’t be business as usual you really need to set some guiding post for investors to really understand the cash flow generating power of this company.
And obviously without pinning yourselves down since you're early in this merger, but I think you just need to take a really different perspective on communicating with the financial profile of the company is. So that's my two stance. Thanks for taking my call.
Vince Sadusky - President and CEO
No, thank you.
amen to that....I couldn't believe him...that's what shook me up so much. I know Sadusky is good, and I now know why he is running the show. CFO needs to be history..
as I've said---no big blocks were sold/ just shorts hoping to push the stock around and they're giving it up now
I thought that was a ridiculous claim to be green by the close. Well, at 12:20 the price is $16.11 down .22 from a low of $14.70. So, I hope you are right!
The CFO embarrased himself and wasn't prepared, they will have an investor day on the 12th where they will hopefully clarify the companies cash flow power. The CEO is excellent and will lead the company, but he should have been allowed to choose his own CFO.
I was doing something else while I was listening so some of my attention wasn't focused. I'm going to listen to a replay but I agree. I left that call not real informed of what we are going to make this year.
Martel, Lee has some interesting information that you might be interested in. He also needs your input on something. DaninFW
I am long a lot of stock thru the LIN merger and I thought that was one of the sloppiest calls ever...Sadusky was ok but everything and everyone else was clueless...I am a seller on what I pray is a bounce
35 million in synergies in 1st year. Another 35 million next year.
Didn't give us the average cost of debt, bothers me. (unless I missed it) Said more debt changes coming in the near future. Must have a large financing package on the table.
Net incremental retrans growth for years to come.
Unlike their major holder, Sadusky says they are looking at spectrum auction opportunities. He does have several markets where it makes sense.
I'm not really sure how much money they'll make next year by that call, unlike SBGI.
I feel SBGI mgt. is much stronger than MEG. MEG is still a bargain her.
One more. Sadusky said they would do double 2016 political when compared to 2012. Most of these guys are saying this. Not the double part but that you'll see huge increases. Feb of 2017 is my holding time table because of this.