Sprint Board Director William Swanson effectively resigned today by announcing he would not stand for re-election in a few months. While this helps to bring in fresh eyes to the board there are other Directors that have been on Sprint’s board far longer and we believe add far less value. Click here for a copy of…
Myspace has just “unofficially” launched Myspace Games (click here), following its game strategy announcement from 10/23/07 with Oberon Media (click here). Casual gaming that leverages the community aspects of Myspace (ability to play against people from all over the world) would appear to create a significant opportunity for Myspace to further increase monthly time spent…
We have identified four board directors that we believe Sprint shareholders should vote against or withhold their votes for in the upcoming annual election. We believe the removal of these four directors would provide a fresh and more qualified set of eyes that could improve strategic decision making at a critical time for the company and make…
Last Thursday, we attended a New York City Department of Information, Technology and Telecommunications hearing related to Time Warner Cable’s franchise renewal with New York City. The public hearings are required whenever the city’s cable franchises are up for renewal – currently a 10-year cycle, with Time Warner’s existing franchise agreement expiring at the end…
Why would we continue to short WMG? Revenues Declining Excluding Acquisitions. While management refuses to break out the specific benefit of acquisitions on revenue growth, their response to our question on the conference call implies that organic revenue growth (with constant currencies) was down low-mid single digits. Lowered the performance bar, in order to compensate…
Jeff Bewkes, Time Warner’s newly elevated CEO, kicked off yesterday’s 4Q earnings call detailing his approach to running Time Warner. Having listened to Rupert Murdoch (News Corp.) and Bob Iger (Disney) on quarterly conferences calls over the prior 48 hours, we were simply struck by the dramatic difference between Bewkes and the other two CEOs. …
Press reports in China indicate that the announced sale of China Unicom’s CDMA network and customers to China Telecom could occur within the next 60 days with a possible price tag of CNY110 billion. We have not commented on past press reports on restructuring because of our doubts on their credibility but these recent reports…
America Movil reported Q4 results which were largely in line with our estimates. Net subscriber additions of 10.0 million were slightly below our estimate because of an increase in churn in Mexico to 3.6%. Consolidated ARPU was stronger than expected primarily due to strength in Brazil which was up sequentially in local currency. Gross margin…
America Movil reports Q4 results tonight after the close in which we expect strong net additions and an update on what we believe will be an increase in share repurchase activity. We have also revised our estimates ahead of the quarter and are releasing those estimates this afternoon. Click here for a copy of the note…
With Myspace revenues now exceeding $70 mm/month (1/3 from GOOG search deal and 2/3 from display and performance advertising) and EBITDA north of $15/month, Myspace has become a meaningful earnings driver for News Corp. As Myspace opens up its platform to outside developers (as part of Open Social), focuses on selling more targeted advertising (hyper-targeting…
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