|Bid||0.00 x 900|
|Ask||0.00 x 1000|
|Day's Range||35.49 - 35.69|
|52 Week Range||27.01 - 38.00|
|Beta (3Y Monthly)||1.06|
|PE Ratio (TTM)||8.87|
|Forward Dividend & Yield||0.80 (2.24%)|
|1y Target Est||78.00|
CBS and Viacom have set a date for a merger deal, according to multiple reports. Yahoo Finance's Dan Roberts, Myles Udland, and Melody Hahm discuss.
Disney (NYSE:DIS) stock has seen a nice run since April, with shares up more than 30%. Investors are highly bullish on the announced Disney+ streaming service. But with the company's current valuation, is short-term upside limited?Source: Shutterstock Disney is a content machine, and the expansion of streaming will enhance monetization of its entertainment properties. But does this mean short-term upside to the Disney stock price? * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip Read on to see whether the Magic Kingdom's share price still has runway.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Content is King, and Disney is King of ContentDisney's decade-long acquisition spree (Marvel, Lucasfilm) capped off with the purchase of 21st Century Fox. With franchises such as The Simpsons and Avatar joining the portfolio of Star Wars, and the Marvel Universe, it is safe to say Disney is "King of Content."According to Box Office Mojo, Disney's film distribution arm (Buena Vista) had a 34.9% studio market share for the first half of 2019. Combined with 20th Century Fox's 3.9% market share, the combined Disney-21st Century Fox took home nearly 40% of theatrical box office receipts.While theatrical is only a small portion of film entertainment revenues, these figures indicate how the popularity of the company's content is leaps and bounds ahead of peers.Warner Bros., which is owned by AT&T (NYSE: T) subsidiary WarnerMedia, had only a 14.4% market share. Comcast's (NASDAQ:CMCSA) Universal had a 13.5% market share. Sony's (NYSE:SNE) Columbia Pictures had a 9.8% market share. Paramount Pictures, a unit of Viacom (NYSE:VIA) was far behind the pack, with just 5.1% studio market share.But is this extensive collection of entertainment franchises the company's key to beating Netflix (NASDAQ:NFLX), Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL), Amazon (NASDAQ:AMZN), and Apple (NASDAQ:AAPL) in the streaming wars? Streaming Strategy Key Catalyst for Disney StockAfter the 21st Century Fox purchase, Disney owns two-thirds of streaming service Hulu. Disney now has full operational control, and can buy out Comcast's one-third stake as early as 2024.Along with ESPN+, Disney already has assets in place to rival Netflix in the streaming wars. Add in Disney+, and the company could leverage their content dominance into a commanding streaming market share.But in the short-term, the company's streaming platforms are losing money. Both ESPN+ and Hulu generate operating losses. Disney+ will lose money for several years as well, with the company anticipating the service to only reach profitability in 2024.Disney generates sufficient free cash flow ($2.7 billion alone in Q1 2019) to subsidize these losses, but in the short-term could see earnings take a dip. Excluding one-time items, the company's Q1 EPS was down 13% YoY.On the other hand, Disney may be able to use increased operating efficiencies to mitigate streaming losses. The 21st Century Fox acquisition is slated to be accretive to earnings, as the company expects $2 billion in cost synergies by 2021.Long-term, the streaming strategy could push the Disney stock price to new highs. But at the current valuation, can investors expect additional short-term upside? Valuation: DIS Stock Pricey, But Could See More ExpansionTo a value investor, Disney stock is a hard pass. Trading at 22 times forward earnings, and at an Enterprise Value/EBITDA ratio of 19, DIS stock sells at a premium to its direct peers:Viacom: 10 times forward earnings, EV/EBITDA of 7.7CBS (NYSE:CBS): 8 times forward earnings, EV/EBITDA of 9.5AT&T: 9 times forward earnings, EV/EBITDA of 7.7Comcast: 13.4 times forward earnings, EV/EBITDA of 10But comparing DIS stock's valuation to its "old media" peers may be the wrong way to look at the stock. To the investing community, Disney's killer combo of billion dollar franchises and streaming infrastructure justifies a premium valuation.If the company continues to meet expectations, investors could bid up the Disney stock price to a valuation closer to that of Netflix and Amazon.But are investors getting ahead of themselves? It could be five years before shareholders see a return on the streaming build-out. With several years until streaming becomes a cash cow, investors may have better opportunities to enter Disney stock down the road. Disney Stock Price Has Runway, But Not in the Short-TermDisney has proved itself time and time again to the investing community. Figuring out new ways to reinvent the wheel, the content juggernaut is a master at monetizing entertainment. With this impressive track record, it is highly likely the streaming strategy will be another game-changer.But the streaming growth story is fully baked into the Disney stock price. Short-term, this could mean that shares tread water at the current price level, potentially falling off if the company's quarterly results fail to meet expectations.Long-term, the streaming strategy could move the needle once it reaches profitability. But in terms of short-term gains, investors should be cautious before entering a position in DIS stock.As of this writing, Thomas Niel did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip * 7 Services Stocks to Buy for the Rest of 2019 * 6 Stocks to Buy and 1 to Sell Based on Insider Trading The post Disney Stock Has Runway, but Not in the Short-Term appeared first on InvestorPlace.
Musical Extravaganza Marks the Return of Frankie Grande as the Villainous Frankini; Henry Danger The Musical Album Release Available on Friday, July 19
The on-again-off-again reports of CBS Corporation (NYSE: CBS ) acquiring its sister company Viacom, Inc. (NASDAQ: VIAB ) resumed this week with a higher chance of a merger completing compared to prior ...
NEW ALBANY, Ohio, July 16, 2019 (GLOBE NEWSWIRE) -- abercrombie kids, a division of Abercrombie & Fitch Co. (ANF), is partnering with global entertainment brand, Nickelodeon, to make the world a more playful place through its #PlayIsLife campaign, marking Nickelodeon’s first branded content partnership with a retail brand. This integrated collaboration aims to provide children with play-spiration through three elements: limited-time merchandise, an in-store experience in California, and a series of custom content on Nickelodeon’s YouTube channel featuring dancer/actress Nicole Laeno and Gabe and Garrett, stars of the self-titled YouTube channel. The abercrombie kids x Nickelodeon custom tee, which features a Nickelodeon-inspired “slimed” moose, will be available in U.S. stores and online for a limited time starting July 18.
The looming merger in big entertainment seemingly has a deadline, and a big reason for a marijuana stock's quarterly loss is revealed.
MTV and Sean ‘Diddy’ Combs, the entertainment titan responsible for the careers of some of the world’s biggest artists, are reuniting to discover the next breakout superstars in MTV’s “Making the Band.” The reality competition TV pioneer is bringing the iconic series back to MTV by popular demand. Earlier this week, Combs set off a social media firestorm by suggesting the idea of the show’s return and the demand was too loud to resist.
Three-time NBA Champion Dwyane Wade Honored with Legend Award in Gold Slime Dousing; Grammy Award-Winning Global Superstar Ciara Performs
While many investors are focused on the negative impacts of tariffs and the U.S.-China trade war on corporate profits, they may be overlooking another sizable threat, which is rapidly rising labor costs. The median company in the S&P 500 Index (SPX) pays out 13% of its revenues in the form of employee compensation, and these costs grew by 3% in 2018, the fastest pace during the current economic expansion, which began in June 2009, Goldman Sachs reported this week. Goldman believes that stocks with lower than average labor costs as a percentage of sales are well-positioned to outperform in this environment.
BET Networks announced that Devin Griffin joins the company as General Manager, BET+. The subscription video-on-demand service focused on the African American audience, BET+, will feature more than 1,000 hours of premium content including exclusive new original programming and fan-favorite series, movies, and specials from BET Networks, world-renowned creator Tyler Perry, and a host of leading African ...
Viacom Inc NASDAQ/NGS:VIAView full report here! Summary * Perception of the company's creditworthiness is positive * Bearish sentiment is low * Economic output in this company's sector is expanding Bearish sentimentShort interest | PositiveShort interest is low for VIA with fewer than 5% of shares on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Money flowETF/Index ownership | NeutralETF activity is neutral. The net inflows of $2.89 billion over the last one-month into ETFs that hold VIA are among the highest of the last year, but the rate of growth is slowing. Economic sentimentPMI by IHS Markit | PositiveAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Consumer Services sector is rising. The rate of growth is strong relative to the trend shown over the past year. Credit worthinessCredit default swap | PositiveThe current level displays a positive indicator. VIA credit default swap spreads are near the lowest level of the last three years and indicate the market's continued positive perception of the company's credit worthiness.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Dubbed Pluto TV Latino, the initiative marks the first offering of its kind on a major ad-supported over-the-top platform.
One analyst that a reunited Viacom and CBS could achieve as much as a 20% lift to their combined earnings per share within two years.
Verizon Communications Inc. (VZ) may be weighing a purchase of Walt Disney Co. (DIS) to bolster its content ownership, several news stories recently speculated. There is something else Viacom and CBS have in common: National Amusements Inc., which owns nearly 80 percent of both Viacom and CBS.
(Bloomberg) -- The studio that brought you “The Hunger Games,’’ “Mad Men’’ and “John Wick’’ is now facing its own existential question.Lions Gate Entertainment Corp. has lost more than half its market value over the last year as the once-idolized filmmaker struggles to find new megahits. On top of that, recent mergers have created entertainment behemoths that threaten to make smaller studios an afterthought in Hollywood’s new blockbuster environment.All that has created a new sense of urgency around the 22-year-old Lions Gate as it weighs its future: open itself to being acquired, sell off pieces, or try to bulk up to compete with the giants.“Some studios have scale and unfortunately some studios are now subscale,” said John Tinker, an analyst at Gabelli & Co. “The question is obviously, if you are a smaller studio and you do not own Marvel, what are you going to do?”Investors are worried and frustrated that management may have missed the M&A boat, said Geetha Ranganathan, a Bloomberg Intelligence analyst. “Time and options seem to be running out.”Lions Gate shares fell as much as 5.3% Monday to a seven-year low of $11.38 in New York. The company declined to comment.The studio was formed in 1997 in Vancouver by movie-loving mining financier Frank Giustra. It made its name distributing R-rated movies like “American Psycho” and, with the acquisition of Summit Entertainment in 2012, was propelled into the big leagues by the teen-vampire “Twilight” film saga. That same year it also launched the “The Hunger Games’’ franchise. (The studio announced last week there might be a prequel.)But as a smaller company, Lions Gate has long been a target of merger speculation. Companies from Metro-Goldwyn-Mayer to Sony to CBS Corp. have been linked to potential deals. Two years ago, Lions Gate walked away from talks with game-maker Hasbro Inc. involving a $41 a share offer, worth almost $9 billion, people familiar with the situation said.Today, the stock trades below $12, weighed down by two years of declining revenue in its motion picture division, and merger talks have picked up again. Lions Gate has held informal discussions in the past year with companies that may be interested in buying the whole business, people with knowledge of the situation said. But with the stock at seven-year lows, the studio isn’t interested in selling itself at the moment, people close to the situation said.A handful of other strategies are under discussion. One is to buy a stake in Miramax, the film producer formerly owned by the Weinstein brothers, one of the people said. Its current owner, BeIn Media Group, has recently sought buyers for a minority stake. Such a move would give Lions Gate access to a library of Oscar-winning movies such as “Shakespeare in Love” and, more recently, revived franchises like “Halloween.” A Miramax spokesman declined to comment.Starz SaleThe company is also considering selling the studio’s pay-cable network Starz, which contributes more than half its profits. Lions Gate last month turned down a $5 billion informal bid from CBS for Starz, but a sale remains a possibility, according to people familiar with the situation. If that happens, industry sources say, a slimmed-down Lions Gate might become more attractive to potential bidders. Others suggest the studio would be a tough sell without Starz.Meanwhile, the studio is looking to raise perhaps several hundred million dollars from investors to expand Starz internationally. That effort will be slowed down by upcoming negotiations with AT&T’s DirecTV over fees to carry the channel.At recent stock prices, Lions Gate is valued at less than the sum of its parts, according to Tim Nollen, a Macquarie Capital analyst. Shares could be worth $21 in a breakup, with a $5 billion valuation for Starz, $1.5 billion for the motion picture unit and $1 billion for the TV segment.Malone StakeFor investors such as cable magnate John Malone, who first bought shares in 2015 at around $30, it’s a rare miss. He controls about 8% of Class A shares. Hedge fund manager Mark Rachesky, Lions Gate’s chairman, is the biggest investor with a 19% Class A stake. He has owned shares since 2004 and backed the studio in fighting off a takeover by Carl Icahn in 2010.A spokeswoman for Malone did not return requests for comment. A spokeswoman for Rachesky declined to comment.Trends sweeping Hollywood will only make it more difficult for Lions Gate to remain independent. The merging of Disney and Fox’s film companies, and AT&T and Time Warner Inc., along with Comcast’s Universal Pictures, has created a trio of studios that own and produce well-known blockbuster movie franchises, such as the Marvel superhero universe and DC Comics. The result is a small group of big films increasingly dominating the box office.Netflix ProductionMoreover, buyers for Lions Gate’s typically mid-budget fare may be shrinking. Disney and WarnerMedia are investing billions in making their own shows to lure subscribers to new streaming services. Netflix Inc., too, is producing more and more of its original content in-house, a big change from the early days when Lions Gate’s “Orange Is the New Black’’ helped make the streaming channel required viewing. That trend could lessen demand for TV programs and films made by independent studios.Lions Gate has had some successes lately. “John Wick: Chapter 3--Parabellum” helped lift it to fourth in the box office this year, ahead of competitors like Viacom Inc.’s Paramount Pictures and Sony Pictures. And the studio is still finding buyers for its shows, recently selling to HBO, NBC and even streaming platforms run by WarnerMedia and Apple Inc.Jim Gianopulos, chief executive officer of one of the smaller shops, Paramount Studios, said that appealing programming will ultimately win out regardless of production size. “Scale has its virtues, but the creative process is independent of it,” Gianopulos said in an interview.But some analysts aren’t so confident.“For the longest time, people thought the studios would come out as the winners because they own the content,” Ranganathan said. But in the wake of the mergers, “You need established franchises. If you don’t have scale, you can’t compete.”(Updates with analyst’s comment in fifth paragraph.)To contact the reporters on this story: Anousha Sakoui in Los Angeles at email@example.com;Nabila Ahmed in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: David Papadopoulos at email@example.com, ;Nick Turner at firstname.lastname@example.org, Larry ReibsteinFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
BET Networks, a unit of Viacom Media Networks (NASDAQ: VIAB, VIA), and Tyler Perry Studios today unveiled a new joint venture to launch BET+, a premier subscription video-on-demand service focused on the African American audience. Available to consumers this fall, BET+ will feature more than 1,000 hours of premium content including exclusive new original programming and fan-favorite series, movies, and specials from BET Networks, world-renowned creator Tyler Perry, and a host of leading African American content creators.
NIPSEY HUSSLE POSTHUMOUSLY HONORED WITH HUMANITARIAN AWARD MARY J. BLIGE RECOGNIZED WITH PRESTIGIOUS LIFETIME ACHIEVEMENT AWARD AND TYLER PERRY PRESENTED WITH ULTIMATE ICON AWARD CARDI B, MARY J. BLIGE, ...
Jason Jones and Samantha Bee created the TBS comedy series The Detour, which just started its fourth season this week.
BET Networks and Tyler Perry Studios announced today that a new original drama, “The Oval,” the first series under Perry’s exclusive, multi-year content partnership deal with Viacom (NASDAQ: VIAB, VIA) will begin principal photography this summer at Tyler Perry Studios. Starring Ed Quinn, Kron Moore, Paige Hurd and Daniel Croix Henderson, “The Oval,” will introduce viewers to the new first family moving into the White House.
LA LA ANTHONY, AYESHA CURRY, LARENZ TATE, AMANDA SEALES, REVEREND AL SHARPTON, RYAN DESTINY, JACOB LATIMORE, RAPHAEL SAADIQ, MIKE COLTER, DAMSON IDRIS, JODIE TURNER-SMITH, MELINA MATSOUKAS ALSO ADDED AS ...