While theme parks represent less than 22% of our 2008 forecasted earnings for Disney, investors are increasingly concerned with the division’s prospects, particularly given the weakening state of the US economy. We believe fiscal (March) Q2 was quite strong for Disney’s parks (passengers arriving into Orlando airport were up mid-single digits for the quarter, with…
Facebook has begun to rollout an instant messaging feature (live chat) to its 32 mm domestic and over 100 mm worldwide users (monthly Comscore data). The application (click here to read more or watch the video embedded in the full-post below) is browser-based with no download required; all your Facebook friends simply become available to…
Cablevision is in the process of significantly increasing its investment in programming for both the Fuse and MSG cable networks. The Dolans clearly have big (spending) plans for FUSE, as they are looking to ramp-up original programming on top of the build-out of their live entertainment venue business (acquired NYC’s Beacon Theater in 2006, Chicago…
We were surprised to find a supplier of iDEN infrastructure other than Motorola at the CTIA convention last week but we were not surprised to learn that Sprint continues to buy iDEN infrastructure from this second source supplier or that iDEN is growing more significantly internationally that it is domestically. Radioframe CEO, Jeff Brown, spent…
We had a chance to catch up with Virgin Mobile’s CFO, John Feehan, at the CTIA convention last week and have provided a snippet of that conversation in the attached video. Things do not seem to have changed much in the pre-paid industry since the company reported 3 weeks ago. Feehan indicated that Virgin’s minutes…
The Disney Channel has turned into one of the most important creative drivers of the Walt Disney Company, launching franchises that can be leveraged across Disney’s assets. High School Musical 1 has been seen by 250 mm viewers globally with High School Musical 2 seen by 195 mm viewers. HSM has spawned DVD sales, massive…
Cablevision formally announced plans to renovate Madison Square Garden. While this is not a surprise given recent management comments regarding their decision not to pursue a shift of MSG across the street, today’s news gives first-time clarity to the timing and size of the MSG capital spending. CVC will begin the massive ($500 mm) renovation…
Discovery was able to drive 12% revenue growth and 30% EBITDA growth in 2007, however its revenues/EBITDA remain heavily skewed toward its two key channels (Discovery and TLC). Repositioning/Reprogramming Discovery’s 8 other channels is critical to driving long-term growth. On April 23, Discovery hosts its main upfront presentation, with the tagline of “See Us Like…
Additional details were provided about the 2007 short term incentive management payouts that are concerning to us. The short term incentive compensation plan (STIC) exists to hold executives “accountable for our performance.” Despite the poor results of 2007, management was paid over 60% of its target payouts. More troubling are the specific targets disclosed in…
Comcast recently hired Dave Williams as SVP, Wireless Technology Strategy. Previously, Williams was CTO of Telefonica O2 Europe (comprising integrated fixed/mobile businesses in the UK, Ireland, Germany, the Czech Republic and Slovakia) and before that he was VP, Strategic Planning at Cingular Wireless. In the past 18 months, Comcast has spent $1.3 billion to acquire…
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