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Fly News Breaks for May 18, 2016
DISCA
May 18, 2016 | 06:53 EDT
Citi analyst Jason Bazinet downgraded Discovery Communications to Sell and lowered his price target for the shares to $27 from $30. A new sports centric consumer offering from Hulu could launch in the first half of 2017 at $30 per month, Bazinet tells investors in a research note. To keep costs down, the new offering is likely to exclude Viacom, Scripps and Discovery channels, the analyst contends. He sees a long-term strategic risk to those companies.
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