Drew Robertson

E.W. Scripps Company: A Raging Short?

The split with the newspaper and TV properties complicates this short. SSP has vastly outperformed the other local media companies; I guess entirely on the strength of their cable nets. When they split the fog will clear. I'd guess the debt-burdened cable net will face more challenges than anticipated now.

Five Sectors To Consider Shorting

Also XLB XLI XLY and XLK....

Six Reasons Why Yahoo Should Buy Joost

I really don't see how YHOO shareolders benefit from a Joost acquisition. Certainly EBAY's acquisition of Skype was a disaster. Given that precedent, why should Yahoo pay a premium for an untested company with an untested business model. Joost (as in toast) is advertiser-supported. They say they will offer television programming with an adload of about 3 minutes per hour compared to 16 minutes on traditional TV. There is no conceivable way they can match the revenues the networks and production companies now get from traditional TV. To be sure they can wreck the existing broadcast/cable model by luring viewers away from heavily advertised programs on TV. This imbalance will become apparent to the networks sooner not later. It will be especially clear to CBS (an investor in Joost.) Do you think NBCU, FOX and Disney ABS are going to help Yahoo and CBS recover it's investment? Not a chance.

Everything has a price. However Joost's initial $45m. already sets the likely takeout price well above it's real value to Yahoo or anyone else.