We have been recommending that Sprint shareholders vote against the re-election of four specific Directors of the Board based on our analysis as well as discussions with large shareholders. Yesterday afternoon, Sprint announced the effective resignation of two of the four targeted Directors but we continue to believe that investors should vote against Director Irvine…
Preliminary wireless industry subscriber data from Brazil indicates another blow-out month of subscriber net additions in February 2008. These estimates are sometimes slightly revised when the final numbers are released. Monthly industry net additions of 1.3 million increased 169% compared to the prior year and was nearly double our estimate. This follows January industry net…
Two weeks after Sprint announced its Simply Everything unlimited rate plan it finally delivered an advertisement to the market. CEO Dan Hesse has featured himself in the ad (shown below) following in the footsteps of Carly Fiorina at Hewlett Packard, Dr. Dieter Zetsche at Daimler, Dave Thomas from Wendy’s and of course Sy Sperling from…
Google’s Tim Armstrong, earlier this week, stated that there is “an ability to monetize social networking as a platform,” with GOOG finding it increasingly difficult to monetize paid search on social networks such as Myspace at the levels they had hoped. In turn, Myspace’s beta launch of an application platform (that will be integrating with…
We are maintaining our Neutral rating after weak Q4 results and even worse guidance because there is no liquidity risk and the enterprise value per subscriber has reached the costs to acquire a new customer (CPGA). We now expect the subscriber base to decline by 300,000 subscribers (6%) in 2008 so that value per sub…
We attended a screening of DWA’s next film, Kung Fu Panda, last night at Showest in Las Vegas (movie was 95% completed and will be released on June 6th). The movie was very well received by the audience and substantially exceeded our expectations. We believe it has far greater franchise potential than DWA’s prior endeavors. …
Charter finished 2007 far stronger than investors anticipated with revenue growth of 10.7% and EBITDA rowth of 12.8% with full-year growth of 11% and 12%, respectively. Comparatively, both Comcast and Time Warner Cable had revenue growth sub-10% in Q4 2007. We continue to believe that CHTR’s lower ARPU and margins enables management to drive growth…
Initial bids for the Weather Channel are due this week, with several major media companies interested. We suspect the Weather Channel and its related website/mobile businesses are likely to command a valuation of at least $3.5 billion and potentially as much as $4.5 billion. This implies a valuation that would be 13-16x ’08 EBITDA. The…
Despite studio executivess’ hopes that 2007 DVD sales would finish the year up year-over-year, the 4Q failed to lift full-year results into positive territory, with 2007 becoming the first year in which consumer spending on DVDs declined (which we had predicted in our DVD Party is Over note on 10/6/2006). Unfortunately the key Hollywood studios…
Jay Marciano, President, MSG Entertainment spoke as part of a live entertainment panel at a Billboard magazine conference we attended in NYC earlier today. Mr. Marciano stated (paraphrasing his remarks): “We are planning to roll out to music and live event theaters [venues] nationwide” “While we would promote our shows [such as Christmas Spectacular] nationwide…
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