We increased our 2010 EPS estimate for AT&T by $0.03 to $2.05 after adding in the purchase of Centennial and Alltel properties to our model and introduced a 2011 EPS estimate of $1.84. We also updated our estimate of AT&T’s exposure to the iPhone, which we believe has risen to over 40% of AT&T’s post-paid…
Last week Sprint expanded its unlimited Boost pre-paid offering to a handful of CDMA phones however it will not allow new or existing customers to use their own CDMA phones on this rate plan. The reason appears quite clear. Sprint likely doesn’t want $99 Simply Everything customers converting down to the less expensive $60 BlackBerry…
We lowered our 2010 EPS estimate by $0.40 to $2.40 due to lower revenue and margin estimates in the wireline business, inclusion of the divestiture of wireless assets and more conservative wireless ARPU estimates. We also lowered our price target to $36 from $39 and pushed out the timeframe 6 months to the end of…
UPDATED: Investors simply do not give Cablevision and its management enough credit, often dismissing the Dolans for strategic mistakes made over the years. However, they have guts and are willing to take a stand unlike anyone else in the media sector. We were literally stunned listening to the webcast of a Comcast investor presentation yesterday,…
While last night Food Network aired a special version of Iron Chef at the White House, called Super Chef Battle, featuring the First Lady, Michelle Obama, it does not have programming anywhere near as popular as American Idol, 24, NFL games or even college football (which helped Fox in its battle with Time Warner Cable).…
In our Dec. 18th blog post (click here), we discussed how News Corp. decided to extend (for one-year) its current deal with Cablevision for another year, rather than start a retransmission consent battle in the middle of the ALCS featuring the Yankees. While we believe Cablevision may eventually be tied to the retrans terms signed…
Updated: its now official, Albrecht to Starz (click here for press release). When we initiated coverage of Liberty Starz last month (click here) with a Neutral rating, we noted that the company’s strategic direction was unclear: Would Starz seek to acquire sister company Starz Media (held within Liberty Capital), merge with Epix, merge with CBS’s Showtime…
In May 2009 on CBS’ 1Q’09 earnings conference call, CEO Les Moonves addressed the move of Jay Leno on NBC to 10:00pm as follows: “In addition, we think we can increase the shift of dollars, to CBS, because of NBC’s decision to exit scripted programming at 10:00…. If you assume that we were the number…
The first sale doctrine enables Redbox to purchase DVDs that they cannot get thru direct studio distribution (or via third-party distributors such as VPD or Ingram) at retail outlets such as Walmart, Costco, etc. and stock the retail-purchased DVDs into their kiosks (for rental to customers). Since Universal, Fox and Warner Bros. cut off Redbox…
Updated. Our blog post on Friday (click here), laid out the background and key issues in the building retrans battle between News Corp.’s Fox TV stations/cable networks and Time Warner Cable. Over the weekend, Fox’s TV ad campaign kicked off online and on its TV stations in major cities (click here for Fox’s newly launched website and a…
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