Yesterday, 3:17 PM
- Charter Communications (NASDAQ:CHTR) is up 6.2% and has touched a record-high $199 in the wake of its deal to acquire Bright House Networks, which would make it the country's No. 2 cable operator (Charter is now No. 4; Bright House is No. 6).
- The deal's dependent on Comcast's (NASDAQ:CMCSA) successful pursuit of Time Warner Cable (NYSE:TWC) -- Charter's own bid for TWC fell apart, and Charter could step back in if Comcast's plan falters -- and if Comcast takes such a clear lead, Charter may not stop at Bright House in trying to catch up.
- Mediacom, CableOne and Suddenlink could be the next targets. "I think it is inevitable most of the rest of the cable industry not owned by Comcast is sold to Charter," Pivotal Research Group analyst Jeff Wlodarczak tells Reuters.
- As for John Malone, his Liberty Broadband (NASDAQ:LBRDA) -- Charter's biggest shareholder -- has agreed to purchase $700M of shares in the Charter/Bright House combo, in transactions that would leave it with voting power of about 25%.
- Charter bonds picked up on the news as well.
Yesterday, 9:05 AM
- Charter Communications (CHTR, up 5.2% premarket) has reached agreement to acquire Bright House Networks for $10.4B.
- The outlines of a deal were there, but it's early -- it was expected that a ruling would come down on Comcast's (NASDAQ:CMCSA) merger with Time Warner Cable (NYSE:TWC) before Charter made a move.
- The structure: a partnership where Charter owns 73.7% and Advance/Newhouse owns 26.3%. Charter will pay $2B in cash.
- There's still several conditions to wrapping the deal, including Charter transactions with Comcast.
Yesterday, 7:53 AM
- Comcast (NASDAQ:CMCSA) says it will invest $4B in a new company being formed by its outgoing CFO.
- Michael Angelakis will serve as the CEO of the new entity tasked with finding areas of growth and diversification for Comcast.
- The new company will have a 10-year exclusive partnership with Comcast.
- A search for a new Comcast CFO will commence immediately.
Mon, Mar. 30, 6:44 PM
- After seeing some ratings success with a pair of live TV musical events, NBC (NASDAQ:CMCSA) has set its 2015 entry: A take on 1975 musical The Wiz, which it will produce along with Cirque du Soleil.
- After the TV event -- set for Dec. 3 -- the production will make a Broadway revival for the 2016-2017 season. No cast has been connected to the project yet.
- The Wiz won out over other contenders to be produced, including The Music Man and A Few Good Men.
- The network's Carrie Underwood-anchored presentation of The Sound of Music logged 19M viewers in 2013, and its Peter Pan (with Allison Williams and Christopher Walken) marked more than 9M viewers this fall, but NBC may be eyeing different measures of success: Live events show some advertiser-friendly resistance to DVR time-shifting, persistently growing more common with broadcast series (and allowing for more ad-skipping).
- Fox (NASDAQ:FOXA) is getting in on the trend: It's got a live TV production of Grease planned for Jan. 31.
Fri, Mar. 27, 1:34 PM
- TV Everywhere -- the business model providing authenticated premium TV streaming to multiple connected devices -- is now six years old, but after some strong 2014 growth may be poised to go mainstream, Adobe's 2014 digital-video study concludes.
- Usage per quarter last year of authenticated streams averaged 13% of pay-TV subscribers, double the same figure from 2013 and more than triple the 4% in Q1 of 2013.
- While HBO Go (NYSE:TWX) has proved popular, gains were helped by NBC's (NASDAQ:CMCSA) strong promotion of TV Everywhere for the Sochi Winter Olympics, among other big sporting events.
- The report looked at 2.1B authenticated video views for 2014 vs. 574M in 2013. It predicts that overall active viewership will reach 18% by year-end, even without major sports events this year, and that online viewing on mobile devices will pass desktop viewing by Q4 2016.
- Among Adobe's other predictions: The combined AT&T/DirecTV will offer a "skinny" OTT service to compete with Sling TV (NASDAQ:DISH) and Netflix (NASDAQ:NFLX); big MVPDs will follow Comcast in making the experience better; and cable companies will follow NBC in making more back catalog content available on demand.
Tue, Mar. 24, 4:31 AM
- Opening up a new door for the sports-media industry, the NFL has announced it would test placing one football game this season on a national digital platform and not on national television, as a trial effort to understand the market for digital rights.
- In another sweeping change, the league has decided to scrap its controversial blackout rule, which prohibits local broadcasts of games if they aren't sold out 72 hours before kickoff, for the 2015 season.
- Related tickers: CBS, FOXA, CMCSA, DIS, DTV
Mon, Mar. 23, 11:36 AM
- NBCUniversal (NASDAQ:CMCSA) and wrestling behemoth WWE (WWE +1.1%) are tightening their alliance when it comes to advertising and marketing, forming a new approach that will lead to unified campaigns across media platforms.
- WWE wrestling has run on NBCU's USA Network and Syfy for years, and while NBCU has handled TV ads, WWE has focused on digital and social marketing. Last year the two companies renewed their deal to keep the wrestling programs on NBC outlets in exchange for about $200M in licensing fees.
- The new strategic pact comes as advertisers begin to focus more on upfronts, where TV nets sell most of their ad inventory. A unified approach could help NBCU and WWE wield more power.
- Paramount has jumped into the new deal, agreeing to heavily cross-promote and advertise Terminator: Genisys with Wrestlemania and other events from spring through to the film's summer release.
Thu, Mar. 19, 9:54 AM
- Universal Studios Japan intends to build a new theme park in Okinawa, according to a top exec.
- Okinawa is trying to build Asian tourist traffic to the island.
- Universal Studios Japan currently operates four theme parks in Japan under a license from NBCUniversal (NASDAQ:CMCSA).
Tue, Mar. 17, 5:22 PM
- Charter Communications (NASDAQ:CHTR) shareholders approved share issuance connected to divestiture deals with Comcast (NASDAQ:CMCSA) and its plans to acquire Time Warner Cable.
- Stockholders signed off on issuing shares of "New Charter" as it acquires 33% of Midwest Cable ("Greatland Connections"), after that entity spins off to Comcast shareholders.
- The series of tax-efficient transactions is designed to reduce Comcast's post-merger subscriber total to less than 30% of national MVPD subscribers.
- Today: CMCSA -1%; CHTR -1.4%.
Tue, Mar. 17, 2:39 PM
- Comcast (NASDAQ:CMCSA) keeps up its sports-deal momentum by signing a tech and real estate pact with the Atlanta Braves (NASDAQ:LMCA) that will include wiring the team's new 60-acre stadium complex for networking, as well as a new office for Comcast.
- The project will provide video, voice and high-speed Internet through SunTrust Park, including a ballpark and surrounding buildings holding retail, food service, hotels and residences.
- As part of the muli-year deal, Comcast's name will be on a nine-story tower that will also house 1,000 of its employees.
- Comcast's business-services unit has signed similar deals in the past, most recently with the NFL's Tennessee Titans, as well as the San Francisco 49ers, Denver Broncos and Jacksonville Jaguars; baseball's Oakland A's, Boston Red Sox and Detroit Tigers; and the NBA's Boston Celtics and Atlanta Hawks.
- SunTrust Park is scheduled to open in time for Opening Day in spring 2017.
- Previously: No plans to sell MLB's Braves, Liberty says (Feb. 25 2015)
Tue, Mar. 17, 2:03 PM
- With the proposed merger of Comcast (NASDAQ:CMCSA) and Time Warner Cable (NYSE:TWC) getting all the oxygen from the post-net-neutrality FCC, the $48.5B deal that AT&T (NYSE:T) has to acquire DirecTV (NASDAQ:DTV) appears to be getting a relatively free pass.
- Both deals will create a company controlling more than a quarter of pay TV -- so it may be Internet access that's drawing extra scrutiny. The combined Comcast-TWC company would serve high-speed Internet to almost 40% of Americans.
- Even FCC petitions opposing the deals are telling: 20 against Comcast-TWC, five against AT&T-DirecTV. And 88,000 brief comments opposing Comcast-TWC, 14,000 opposing AT&T-DirecTV.
- One critic of the T-DTV deal told Reuters that Justice Department reviewers responded in a meeting with "few questions" and "blank stares."
- Today: CMCSA -0.7%; TWC -1%; T +0.1%; DTV +0.2%.
- Previously: FCC pauses review of Comcast-TWC, AT&T-DTV; likely weeks away (Mar. 13 2015)
- Previously: Brean downgrades DirecTV to Hold; AT&T offer priced in (Feb. 23 2015)
Mon, Mar. 16, 10:33 PM
- The TV service that Apple (NASDAQ:AAPL) is talking about (per WSJ) would be anchored by major broadcasters ABC (NYSE:DIS), CBS and Fox (NASDAQ:FOXA) -- but leaving out NBC (NASDAQ:CMCSA) because of hard feelings might make Apple's plan a harder sell.
- WSJ's Shalini Ramachandran notes Dish Network (NASDAQ:DISH) launched Sling TV without Fox and NBC, and Sony (NYSE:SNE) Vue without Disney ... which might make this yet another messy middle step toward some customers' a la carte dreams.
- The big broadcasters aren't all, though -- the talks with Disney could bring ESPN, and there may be other basic cable additions, though the ultimate package is likely to end up as a "skinny" bundle that leaves out the typically large number of channels in typical pay TV tiers.
- According to the report, the service would work across all iOS devices: iPhones, iPads, Apple TVs.
- Previously: WSJ: Apple talking Web TV service for fall launch (Mar. 16 2015)
Mon, Mar. 16, 10:06 PM
- Apple (NASDAQ:AAPL) is in talks to launch a Web TV service this fall -- featuring about 25 channels (including ABC (NYSE:DIS), CBS and Fox (NASDAQ:FOXA)), costing $30-$40, and available on devices like Apple TV, according to The Wall Street Journal.
- NBC (NASDAQ:CMCSA) isn't in the talks right now because of a falling-out between Apple and NBCUniversal owner Comcast over last year's negotiations, the paper says.
- An announcement could come in June for a September launch.
Sat, Mar. 14, 8:00 AM
- Sony Pictures Television (NYSE:SNE) is within a few weeks of a deal to sell the episode library of hit '90s sitcom Seinfeld to a video streaming service: Hulu (CMCSA, DIS, FOXA), Yahoo (NASDAQ:YHOO), or Amazon.com (NASDAQ:AMZN), and thus maybe to a whole new generation of viewers.
- Netflix (NASDAQ:NFLX) won't be among them, though, as it's passing -- which gives competitors a chance to nab a TV crown jewel and make up some ground in a content-acquisition arms race.
- Seinfeld -- a show that has generated more than $2.7B in syndication sales alone -- has 180 episodes, each of which should draw well over $500K in what should be a long multi-year agreement.
- While Sony has distribution rights and is making the deal, most of the revenue would likely go to Time Warner (NYSE:TWX), owner of Seinfeld producer Castle Rock Entertainment.
- Previously: Now a friendly deal between Time Warner and Netflix (Oct. 15 2014)
- Previously: CBS next to join Sony's online TV service (Nov. 06 2014)
- Previously: Bernstein: Amazon spending $2.5B+ on content next year (Oct. 13 2014)
Fri, Mar. 13, 4:28 PM
- As signaled before, the FCC has paused the 180-day "shot clock" on reviewing two megamergers -- Comcast's (NASDAQ:CMCSA) deal for Time Warner Cable (NYSE:TWC), and AT&T's (NYSE:T) deal to buy DirecTV (NASDAQ:DTV) -- as it's tied up with another case over programming contracts.
- The review of the deals was set to expire by the end of March, but now may take somewhat longer, likely several more weeks.
- The cause is the ongoing dispute with programming firms -- Disney (NYSE:DIS), CBS, Twenty-First Century Fox (NASDAQ:FOXA), Viacom (VIA, VIAB) and others -- over whether third parties commenting on the mergers will get access to private documents containing sensitive pricing and strategy information.
- The FCC has argued it has sufficient protections to keep those details from getting out. But the merger reviews now appear to be dependent entirely on that case's timetable.
- "In reaching this conclusion, the commission reserves the right to restart the clock as it believes will best serve the public interest," the FCC said.
Thu, Mar. 12, 11:57 PM
- The MPAA's report on global box office notes that 2014 sales were up 1% to $36.4B, lifted by China's industry -- the first time that Asian revenues passed those of other regions.
- China's $4.8B made it the first foreign market to exceed $4B a year. Domestic sales of $10.4B were down 5%.
- In 2013 the three major regions (North America, Europe/Middle East/Africa, Asia Pacific) essentially tied, but 2014 was the year of Asian box office share: 34.1% vs. 29.1% in EMEA and 28.6% in North America.
- Among worries for the industry, The Hollywood Reporter notes 32% of North America's audience didn't go to a movie at all, and that steep dropoffs in ages 2-11 and 25-39 means the industry needs to look at long-term audience growth. (Frequent moviegoers make up just 11% of the population but buy 51% of the tix.)
- The U.S. industry might be frontloaded for a rebound with a franchise- and sequel-heavy 2015 ahead, though.
- Filmmakers: CMCSA, FOXA, TWX, VIA, DIS, DWA, SNE
- Previously: DreamWorks touts Chinese venture, global projects (Mar. 04 2015)
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