Investment firm Sanford C. Bernstein on Wednesday released a new pessimistic report on media company earnings. “The recent run-up in media stocks suggests investors are looking past the horrid near-term trends to a happier place off in the horizon,” said analyst Michael Nathanson in a report. “However...
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Wed, Apr 8 2009
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Filed under: Broadcast, Cable, Digital, Advertising, CBS, Viacom, Syndication, Research, Earnings, Time Warner, News Corp., Economy, Walt Disney Co.
News Corp. Chairman and CEO Rupert Murdoch doesn’t think the economy will bounce back anytime soon. “I think the long-term situation is still very dangerous,” Mr. Murdoch said, responding to questions at the National Cable & Telecommunications Association’s Cable Show '09. “I don’t think anyone...
Media companies just aren’t worth what they used to be. News Corp. and Time Warner last week both took billion-dollar writedowns against quarterly earnings as the economy lowered the value of some of their assets. The industry titans said the downturn was steeper than anticipated and the watchword going...
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Sun, Feb 8 2009
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Filed under: Broadcast, Cable, Advertising, Print Edition, Earnings, Scripps Networks, Time Warner, Jeff Bewkes, Rupert Murdoch, News Corp., Economy
The economic crisis that rocked Wall Street showed up as a ripple in many media company earnings reports for the third quarter—but a more ominous harbinger of hard times emerged Friday. General Motors, which reported a $4.2 billion third-quarter loss, said Friday it had decided to cut back on its upfront...
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Sun, Nov 9 2008
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Filed under: Broadcast, Advertising, Viacom, Print Edition, Discovery Communications, Time Warner, News Corp., General Motors, Walt Disney, GM