Discovery Communications, IncNASDAQ
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  • Wed, Nov. 16, 6:44 PM
    • Meet the new bundles; same as the old bundles? A report from Digitalsmiths (now a research arm of TiVo) says that in an a la carte scenario for picking TV channels, the most desirable would be ABC, CBS and NBC in that order.
    • Of 78% of respondents who would go for a TV package where they chose their own channels, 70.7% chose ABC (DIS +1.5%); 70.1% went for CBS (CBS +0.3%); and 65.5% for NBC (CMCSA +0.7%). Those were followed by Discovery Channel (DISCA -0.6%; 62.1%) and History Channel (A&E, 59.7%). Only 56% would go for Fox (FOX +0.3%, FOXA +0.3%).
    • Respondents were unsurprisingly stingy with what they might pay for buffet-style TV, though: an average of about $1.50 for most of the channels in the top 10 (with PBS leading those, at $1.74). In sum, a combination of the top 10 channels in the survey would be worth $15.30 to viewers -- well under what they would charge as solo over-the-top operations.
    | Wed, Nov. 16, 6:44 PM | 12 Comments
  • Tue, Nov. 1, 7:07 PM
    • Along with earnings today, Discovery Communications (DISCA -1.2%) has made a deal with streaming firm BAMTech to create a European joint venture.
    • The partnership -- BAMTech Europe -- will provide back-end technology for platforms throughout the continent, and will have Discovery's Eurosport Digital as an initial client.
    • You'll remember BAMTech (which spun off from MLB Advanced Media) as the firm that got a $1B infusion from Walt Disney, which bought 33% and called it an "enabler" for digital video. The company has a strong presence in the U.S. serving video to 7.5M subscribers for various streaming-service clients.
    • Internationally focused Discovery sees the synergies in a JV: “We think we can help (BAMTech) build a platform business in Europe,” CEO David Zaslav tells Reuters. “They’ve got a lot of knowledge in the direct-to-consumer business.”
    | Tue, Nov. 1, 7:07 PM | 2 Comments
  • Tue, Nov. 1, 12:06 PM
    • Discovery Communications (NASDAQ:DISCA) is rebounding from early morning, off 0.6% now following a near miss in its Q3 earnings where the company faced "challenging but expected" headwinds, says CEO David Zaslav.
    • Revenues were flat, but excluding foreign exchange effects, they rose 3%. Net income, meanwhile, fell 22%.
    • Free cash flow increased 75%, to $410M. Cash flow from operations increased to $436M and capital expenditures increased 8% to $26M.
    • Revenues by segment: U.S. Networks, $793M (up 2%); International Networks, $720M (down 3%); Education and other, $43M (up 19%).
    • Adjusted OIBDA by segment: U.S. Networks, $458M (up 3%); International Networks, $183M (down 16%); Education and other, -$1M vs. year-ago -$5M.
    • Press Release
    | Tue, Nov. 1, 12:06 PM
  • Tue, Nov. 1, 7:01 AM
    • Discovery Communications (NASDAQ:DISCA): Q3 EPS of $0.40 misses by $0.01.
    • Revenue of $1.56B (flat Y/Y) misses by $10M.
    • Press Release
    | Tue, Nov. 1, 7:01 AM
  • Mon, Oct. 31, 5:30 PM
  • Sun, Oct. 23, 10:24 AM
    • Discovery Communications (NASDAQ:DISCA), Scripps Networks (NYSE:SNI), AMC Networks (NASDAQ:AMCX), Lions Gate (NYSE:LGF), Viacom (VIA, VIAB), and CBS already had their tails in the air on Friday afternoon as merger talk between  AT&T and Time Warner heated up.
    • Previously: AT&T seals $85.4B deal for Time Warner (Oct. 23)
    | Sun, Oct. 23, 10:24 AM | 14 Comments
  • Fri, Oct. 21, 12:02 PM
    • Time Warner (TWX +12.4%) is still climbing and cruising to 15-year highs after the WSJ report that it's in advanced talks to be taken over by AT&T (T -3.9%), which is now at its lowest point since February.
    • The deal -- which would create a media/telecom giant that would reshape the industry -- would be likely cash and stock, though talks are fluid and might not end in a deal.
    • The mix of the deal is likely crucial to its outcome, with Time Warner (not to be confused with Time Warner Cable, now part of Charter Communications) now worth more than $75B -- and a year after AT&T ponied up nearly $49B to take over DirecTV.
    • Other potential acquisition targets in media (is anything off the table in a rapidly consolidating sector?) are on the move: DISCA +6.4%, SNI +5.6%, AMCX +4.3%. Lions Gate (NYSE:LGF) made its own move up, +2.4%.
    • Engaged in talks about their own re-merger, Viacom (VIA +2.8%, VIAB +4.1%) is up, as is erstwhile and possibly future partner CBS (CBS +2.7%).
    | Fri, Oct. 21, 12:02 PM | 10 Comments
  • Mon, Oct. 17, 1:46 PM
    • Eurosport (NASDAQ:DISCA) is jumping in with other networks on the burgeoning sport of drone racing, reaching a deal with DR1 to broadcast races of the remote aircraft in 70 countries.
    • The one-year deal covers DR1's Drone Racing Invitationals on Nov. 8 and three other races next year. And it puts Eurosport owner Discovery Communications in company including ESPN, Sky and ProSiebenSat.1.
    • Covering drone racing is a calculated move to skew younger, aiming to merge the standard televised appeal of racing sports such as Nascar and Formula One with a more millennial focus.
    • "We think the space has gotten interesting," says Eurosport CEO Peter Hutton, "and we like the idea of having storylines around individuals that we can build up as heroes ... We see this as a journey toward a younger demographic."
    | Mon, Oct. 17, 1:46 PM | 1 Comment
  • Tue, Oct. 11, 10:22 AM
    • In an international reorganization, Discovery Communications (DISCA -1.3%) is folding its international content group into its UK business, and the group's president is leaving the company.
    • Marjorie Kaplan relocated to London last year to oversee international content. She had previously led Animal Planet and TLC.
    • She'll depart the company, as the business is combined directly with Discovery's UK business under the leadership of Susanna Dinnage, now president/managing director of Discovery Networks UK/Ireland.
    | Tue, Oct. 11, 10:22 AM | 1 Comment
  • Tue, Oct. 4, 11:17 AM
    • After a lengthy hunt, Discovery Communications (DISCA -0.5%) has named ProSiebenSat.1 Media CFO Gunnar Wiedenfels as its new chief financial officer.
    • He'll start April 1. Discovery CFO Andrew Warren was reported last February to be leaving the company at the end of 2016; he'll now extend his contract terms to ensure a smooth transition.
    • The move should boost experience in the international programming that is now Discovery's key focus. “Gunnar's international expertise aligns perfectly with our future growth profile, and he brings to Discovery an exceptional reputation in the capital markets, strong industry expertise and a strategic focus to help unlock the value of our investments," says Discovery CEO David Zaslav in a statement.
    | Tue, Oct. 4, 11:17 AM
  • Tue, Sep. 27, 1:24 PM
    • Along with a market that's gaining in strength since the morning, Discovery Communications (DISCA +0.3%) and Scripps Networks Interactive (SNI -0.2%) have recovered from bigger declines out of the open. Analyst Michael Nathanson says it's time to sell both stocks, though.
    • "Either You're Live & Large or Dead," Nathanson writes in a downgrade of both cable networks amid shrinking ratings and shrinking multiples.
    • A drop in ratings for non-live programming makes for fundamental challenges for pure-play networks specializing in that programming, he says. Advertising slowed beginning at 2013's end, and “Starting in the summer of 2014, there was an unexpected drop in cable viewership which caused pressure on cable networks that did not have pricing leverage to offset the lower audience deliveries."
    • Scripps Networks (home of HGTV, DIY, Food Network and more) gets caution from MoffettNathanson "given increasing pressure on affiliate fees and greater competition for content pressuring programming."
    • As for Discovery, “domestically we worry about competition for viewership without live marquee programming such as news or sports and its impact on advertising ... Internationally, Discovery is still in the early days of monetizing its Eurosport acquisition and newly acquired expensive sports rights, like the Olympics.”
    | Tue, Sep. 27, 1:24 PM
  • Thu, Sep. 8, 10:43 AM
    • Discovery Communications (NASDAQ:DISCA) has signed a new long-term carriage deal with AT&T (T +0.2%) covering its TV services.
    • That means getting Discovery networks to more platforms on DirecTV and U-verse than in previous deals -- including upcoming streaming service DirecTV Now, Discovery says.
    • “We are pleased that we were able to get a win-win deal done with the largest distributor in the country," says Discovery's Eric Phillips.
    • “By adding the Discovery networks to the growing DirecTV Now lineup, we are continuing to build a streaming service for the connected generation that we believe will be second-to-none in the industry," says AT&T Chief Content Officer Dan York.
    | Thu, Sep. 8, 10:43 AM | 1 Comment
  • Wed, Aug. 3, 3:00 PM
    • Discovery Communications (NASDAQ:DISCA) is up another 2.2% today, adding on to post-earnings gains yesterday as a pair of analysts boost outlooks on the stock.
    • Macquarie has upgraded the shares to Neutral from a previous Underperform rating, joining a consensus take to hold the shares.
    • Meanwhile, MKM Partners has lifted its price target on the stock slightly, to $29 from $27. That implies 9.8% upside from yesterday's close of $26.42.
    • The shares rallied yesterday after the heavily international company grew revenues with strong U.S. performance, dodging currency effects. Its revenues from U.S. networks grew 7.2% while International Networks declined 1.4%.
    • Two-day performance for DISCA: up 8.9%.
    | Wed, Aug. 3, 3:00 PM
  • Tue, Aug. 2, 11:11 AM
    • After kicking around near 52-week lows in July, Discovery Communications (NASDAQ:DISCA) is up hard, +6.2%, following Q2 earnings where it grew profits 43% thanks to U.S. growth unhampered by currency concerns.
    • The heavily international business saw a four-percentage-point impact from exchange headwinds; a decline of 1% would have been 3% growth excluding such effects.
    • Revenue by segment: U.S. Networks, $873M (up 7.2%); International Networks, $790M (down 1.4%); Education and other, $46M (up 15%).
    • Revenue breakout: Distribution, $813M (up 4.9%); Advertising, $813M (down 0.1%); Other, $82M (up 26.2%).
    • Free cash flow fell 4% to $301M.
    • Press Release
    | Tue, Aug. 2, 11:11 AM
  • Tue, Aug. 2, 7:08 AM
    • Discovery Communications (NASDAQ:DISCA): Q2 EPS of $0.71 may not be comparable to consensus of $0.54.
    • Revenue of $1.71B (+3.6% Y/Y) in-line.
    • Press Release
    | Tue, Aug. 2, 7:08 AM
  • Mon, Aug. 1, 5:30 PM