|Bid||17.00 x 1200|
|Ask||24.23 x 900|
|Day's Range||20.88 - 23.44|
|52 Week Range||19.62 - 61.13|
|Beta (5Y Monthly)||0.90|
|PE Ratio (TTM)||3.40|
|Earnings Date||Apr 28, 2020 - May 03, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||36.32|
(Bloomberg Opinion) -- Todd Garner was in Puerto Rico filming his latest comedy “Vacation Friends” — for 20th Century Studios and starring John Cena — when it started to become evident that the coronavirus was going to be a serious problem. While the U.S. government wasn’t quite yet relaying such severity, “I could see the anxiety on everybody’s faces” among the cast and crew, Garner recounted on a recent episode of his podcast. Questions arose that filmmakers haven’t had to confront before: Should so many people be working in such close quarters? Is it safe for makeup artists to be touching the actors’ faces? Two weeks into production, and with six weeks to go, they put the film on ice.It’s hardly the only movie that’s had to temporarily stop filming and send everyone home for an unknowable period of time. Indeed, “show business” is neither right now. Garner, who co-produced “Paul Blart: Mall Cop,” said he also had two TV series for Netflix Inc. that were already far along and had to cease production. Netflix’s “Stranger Things,” HBO’s “Succession,” ABC’s “Grey’s Anatomy,” AMC Networks Inc.’s “The Walking Dead,” Hulu’s “Handmaid’s Tale” and Apple Inc.’s “The Morning Show” are among other series with highly anticipated returning seasons that will be delayed by national stay-at-home orders. And it’s not just scripted shows. For example, it seems unlikely that the “Friends” reunion special can still be filmed in time for the arrival of HBO Max, a new streaming-TV service launching in May from AT&T Inc.’s WarnerMedia, which reportedly paid $425 million last year to snatch away from Netflix the streaming rights to the popular 1990s-early aughts sitcom.Movie theaters are closed and there aren’t any sports to watch. For an audience bored by the isolation on a good day, and entirely dispirited by it on the bad ones, it’s all the more devastating to not be able to look forward to our favorite shows.The Hollywood shutdown hit just as media giants like Comcast Corp. and Walt Disney Co. are getting their streaming products off the ground, each looking to spend billions of dollars on new content. Disney+ and Apple TV+ both launched in November, while Comcast’s NBCUniversal is introducing its Peacock service April 15. Quibi, a startup created by a pair of media and tech veterans that’s reportedly raised $1.75 billion in funding, launched Monday. With everyone home and glued to their TVs and devices, these companies will have a chance to attract more subscribers, while viewers gain more options for passing the time.Even so, none of these apps on its own may have enough to watch or offer sufficient variety for the average household. The most sought-after programs have been divvied up among the different services, which each charge their own monthly fees. Viewers might just grow tired with of any of these streaming apps when forced to spend so much extra time with one, potentially creating more volatile churn rates — the closely tracked measurement of customers canceling subscriptions. It’s a test for the streaming newbies and even Netflix that’s made all the more challenging if new content stops flowing in.New theatrical releases have gotten caught in the middle of this, too. For a big-budget film like “F9,” the latest installment of “The Fast and the Furious” franchise, bypassing hundreds of millions of dollars in box-office revenue isn’t really an option. That’s why Universal Pictures pushed back the release by almost a whole year to next April. But with “Trolls World Tour,” Universal decided to make the movie available to rent on-demand for $20 instead of just delaying its theatrical debut. Other studios are having to make similar decisions. It raises the question of how all these delayed movies will fit into exhibitors’ schedules once theaters do reopen. As movie-goers grow accustomed to being able to see first-run films at home, and as streaming services try to juice their subscriber bases, a potential outcome may be shorter theatrical windows and an industry that’s forever changed.The pain is also being felt by contractors and local businesses in Atlanta, which became the new U.S. hub for TV and film production in recent years. About 400 works were filmed, resulting in $2.9 billion invested in Georgia for the fiscal year ended June 2019, according to the state. “Film & Entertainment” is featured prominently on the Georgia Department of Economic Development website, but visit the “now filming” section and you’ll find a bare page that reads: “Production in Georgia has been largely suspended due to the Covid-19 outbreak.”Hollywood isn’t the only industry where workers’ safety has been suddenly put at odds with their livelihoods. Still, as housebound viewers devour more content than ever, new shows and movies aren’t getting made. That makes TV entertainment one area where the effects of the pandemic could be most striking for the everyday consumer.This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
AMC Networks Inc. said late Friday it was withdrawing its first quarter 2020 and full-year 2020 guidance due to uncertainty during the coronavirus pandemic. The entertainment company also updated investors on its liquidity position, saying that it had $816 million in cash and cash equivalents as of late December, and it has access to a $500 million revolving credit facility. Shares of AMC fell 0.8% in the extended session Friday after ending the regular trading day down 2.7%.
ViacomCBS stock was one of the worst performers in the S&P 500 on Thursday, tumbling 5.1% while the broader index rallied 6.2%.
Shares of ViacomCBS Inc. are off 6% in Thursday trading and pacing the S&P 500 decliners on a day when the broader market is rallying. "Shareholders of stocks like Viacom, Discovery , and AMC Networks own underlying assets that rely almost entirely on an old business model with both severe adverse structural forces and cyclical risk, as well as the preexisting condition of overly extended balance sheets," Bernstein analyst Todd Juenger wrote in a bearish note to clients Thursday. He cut his price target on Viacom shares to $10 from $24 while maintaining an underperform rating on the stock and writing that there would seem to be "not much left for equity holders in the COVID-19 aftermath" when it comes to Viacom, Discovery, and AMC Networks shares. Also on Thursday, The Wall Street Journal reported that Viacom parent company National Amusements Inc. struck a deal with lender Wells Fargo & Co. to restructure its debt after ViacomCBS's recent stock tumble brought the value of the shares below Wells Fargo's minimum threshold, citing sources familiar with the matter. The stock has lost 44% over the past month as the S&P 500 has dropped 17%.
Since forming Xandr in 2018, phone carrier AT&T has sought to allow advertisers to target certain audiences using AT&T data, which it gathers from offering phone, internet and TV services. The moves are part of an effort by the TV industry as a whole to catch up to digital advertising behemoths like Alphabet Inc's Google and Facebook, where the ability to target ads has long been more advanced.
To the annoyance of some shareholders, AMC Networks (NASDAQ:AMCX) shares are down a considerable 31% in the last...
It's been a mediocre week for AMC Networks Inc. (NASDAQ:AMCX) shareholders, with the stock dropping 19% to US$28.30 in...
AMC Networks (AMCX) delivered earnings and revenue surprises of -2.31% and 1.50%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
Full Year Financial Highlights: Revenues of $3.1 billionOperating income of $625 million; Adjusted Operating Income1 of $944 millionDiluted EPS of $6.67; Adjusted EPS1 of.
New, Long-Term Carriage Agreement for AMC Networks’ Linear Channels AMC, BBC America, IFC, SundanceTV, WE tv and BBC World News to DISH and Sling TV Customers DISH and Sling TV.
This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios...
AMC Networks (AMCX) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
AMC Networks Inc. (“AMC Networks” or the “Company”) announced today that it has given notice of its intention to redeem $200 million of the outstanding $600 million principal amount of its 4.75% Senior Notes due 2022 (CUSIP Number 00164V AC7) (the “Notes”) on March 4, 2020 (the “Redemption Date”). The Notes will be redeemed at a redemption price (the “Redemption Price”) of 100.792% of the principal amount of the Notes, plus accrued and unpaid interest to, but excluding, the Redemption Date. AMC Networks has instructed U.S. Bank National Association, as the trustee for the Notes (the “Trustee”), to distribute a notice of redemption to all registered holders of the Notes on February 3, 2020.
NEW YORK, Jan. 16, 2020 -- AMC Networks Inc. (NASDAQ: AMCX) will host a conference call to discuss results for the full year and fourth quarter 2019 on Wednesday, February 26,.
NEW YORK, Dec. 10, 2019 -- AMC Networks (NASDAQ: AMCX) today announced that its four targeted subscription video on demand services – Acorn TV, Shudder, Sundance Now, and UMC.