On Wednesday, April 15th, we kicked off the inaugural episode of Sport Hiatus’ Office Hours interview series with John Kosner interviewing LightShed Partner’s Rich Greenfield. Kosner is the Co-Founder of Micromanagement Ventures with former NBA Commissioner David Stern, and Sports Digital Media Consultancy, Kosner Media. Prior to Micromanagment Ventures and Kosner Media, John was a…
T-Mobile has already started signing multi-year lease agreements with certain 600 MHz spectrum holders. This is occurring before the FCC inspired 60 day free loan period for this spectrum has expired. Could Dish be next and can the Boost purchase be renegotiated? What happened? T-Mobile entered into a 3-year spectrum lease agreement for low-band 600…
It has been nearly a month since the broader live entertainment business shuttered, including every aspect of MSG’s business. The future of live entertainment, including both sports and concerts, is a series of open questions. We do not have the answers. Like everyone else, we can only guess at when we return to group activities…
Verizon could have a critical 5G marketing advantage when the iPhone launches later this year thanks to the combination of two key wireless technologies developed by Qualcomm. We still have concerns about the limited amount of spectrum Verizon has available to fuel the persistent growth in wireless data. However, we recognize that the stars are…
Disney stock reached an all-time high of $151.58 on November 27, 2019, following the incredibly successful launch of Disney+ earlier that month. At that moment, Disney’s consensus EPS expectations for fiscal (Sept) 2020-2022 were $5.49, $6.12 and $6.87, respectively. While Disney waited far too long to disrupt their cash cow legacy businesses, when they finally…
We are initiating coverage of Cogent with a Buy rating and $94 price target. We believe Cogent is benefiting from increased internet usage trends that will return its Net-centric business to growth in Q1 for the first time in seven quarters. We also expect its Corporate business to remain stable during shelter in place conditions…
Hope everyone reading this is safe and healthy. With media company after media company coming out publicly to say the growing global coronavirus pandemic is going to have a meaningful impact on their businesses, we thought it would useful to talk through some of the things we have been thinking about over the past week,…
Back on March 12 (link), we wrote about the debt covenant breach at National Amusements (NAI), the controlling shareholder of ViacomCBS. ViacomCBS investors feared that NAI would be forced to sell ViacomCBS shares as they did in 2009 (just months after telling investors they would not have to). In our March 12, 2020 piece, we…
The Bad News: Our ad market concerns in the face of the growing global #coronavirus pandemic, outlined in our March 18th post (link), were confirmed in Twitter’s pre-announcement this past Monday evening (not to mention Facebook’s statement yesterday evening). Given that Twitter now expects revenues to be down “slightly” in Q1 2020, after a strong…
It took less than a week for T-Mobile to deploy the 600 MHz spectrum that Dish and others loaned it. We analyzed new data from Opensignal that shows how much of the loaned 600 MHz spectrum T-Mobile has already deployed in each of the top 100 markets and who owns the spectrum that T-Mobile chose to…
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