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Gray Television Inc. Message Board

  • value_invstr value_invstr Feb 12, 2014 1:30 PM Flag

    Take aways from the Sinclair call

    First, numbers were fine and guidance was very good for the full year although light for 1Q. Light for 1Q they blamed weather and investments in expanding news coverage. Full year guidance was very good, and I would argue conservative giving they are assuming political stays flat from 2010. No way that happens. Pro Forma Ebitda guidance for 2014 is $785M-$805M, that is a monster number. They still expect Allbritton to close in 2Q. Regarding JSA's - 10% of their revenue, Wells Fargo said they don't think any changes by the FCC will have a material affect as everyone will just restructure their arrangements to conform to the new rules. Got a couple of Aereo questions - Even if they lose in the Supreme Court they will be back with the copyright issue. This is something I wasn't sure about, I believe the case is only about public v private performance, and they are not addressing the copyright issue (which seems like the easier part of the case to make), I'm not sure if the Supreme Court can or will go into the copyright issue or if they bound just by the public/private performance. Case will be heard April 22nd. Oh, and Lin Media was upgraded today. And SNL Kagan published what they believed were the multiples for the Granite stations that were just sold to SSP, look very healthy.

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    • Who upgraded LIN today? Could not find it. I saw where The Street downgraded yesterday from buy to hold. The Supreme Court case is similar to a serial killer being charged for killing 27 people. Usually the first trial is for a small part of that because of double jeopardy. If he wins he can still be charged for the other murders. Street did not like SBGI's report or conference call today. SBGI is basically saying that even if we lose we can still sue for copyright which leaves the uncertainty still hanging over their heads. This tells me they have concerns reading between the lines. My concern is that other investors have concerns. As for Wells Fargo they have one of the poorest reputations on the street IMVHO. Marci Ryvicker is a joke. I have said this for years. She is always a day late and a dollar short. We almost saw the 9's today on GTN. If it breaks and holds below $9.80 there is no real support till $8.90's........JMVHO. DaninFW

      Sentiment: Strong Sell

 
GTN
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