Senator John Kennedy from Louisiana has been a vocal critic of a private auction of C-Band spectrum and has voiced those concerns to the President. That is not new. However, we believe the administration continues to be more interested in winning the Race To 5G and will support the determination of its appointee, FCC Chairman…
While all eyes are on today’s launch of Disney+ (link), we are increasingly fixated on Disney’s decision last week to begin airing FX programming on Hulu in March 2020, just hours after it airs on linear television within the legacy multichannel bundle (with FX set to become the largest content supplier to Hulu, answering one…
The Wall Street Journal reported that T-Mobile CEO John Legere is negotiating a job as CEO at WeWork. It was also confirmed by Fox Business’ Charlie Gasparino. Nevertheless, this story makes little sense to us and we think T-Mobile and SoftBank should deny its veracity, immediately. Legere is certainly qualified to take the WeWork CEO…
In the next few weeks and months, the FCC is likely to decide on key spectrum issues that could end up being pivotal for the success of 5G in the United States. Further delays or unfavorable decisions could trigger bankruptcies, stymie investment or, most importantly, materially delay or impair spectrum that is critical for the…
Yesterday afternoon, Netflix Founder and CEO, Reed Hastings, was interviewed by The New York Times’ Andrew Ross Sorkin at the 2019 Dealbook Conference. The entire 30-minute interview is embedded below (key moments of the interview pulled out below along with timestamps). We were able to ask Hastings a question during audience Q&A and took the…
As we enter the #postbundle world with an increasing array of low-cost (or no incremental cost) direct-to-consumer streaming services, the legacy multichannel video bundle needs to move to an a la carte model or the price/value proposition will collapse on itself. We continue to believe that at best half of the current 85+ million US…
Disney is set to report fiscal Q4 (Sept) 2019 earnings tomorrow after the close, just four days before the launch of Disney+, with direct-to-consumer streaming now the company’s top priority. While investors will be eager to hear more about current theme park trends following Disney’s substantial investment in Star Wars lands at both domestic theme parks, as well as how ESPN is faring in the face of a dramatic acceleration in cord-cutting (total subs likely running down 4% year-over-year with calendar Q4 set to be down ~5%), everything is now secondary to the level of success across Disney’s streaming efforts.
Masa Son remained optimistic about the rising value of SoftBank on his call with investors this morning. However, he didn’t have much to say on the sale of Sprint to T-Mobile, perhaps the biggest catalyst facing the stock this year. On the call, Masa highlighted the Vision Fund’s performance despite taking a $9 billion write down…
T-Mobile has not announced an extension of its merger agreement with Sprint. The deal passed its outside date deadline on Friday. That means that both companies have gained the option to terminate the deal at any time. We think Deutsche Telekom should use that flexibility to renegotiate the terms of the deal, given the erosion at…
While WarnerMedia did not address all of our ten questions heading into their HBO Max Investor Day (see our list, link), we now have a far better understanding of the growth strategy and financial plan for HBO Max, in addition to a first-look at what the service actually looks like (HBO Max is taking technology…
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