Fly News Breaks for September 13, 2017
Sep 13, 2017 | 08:28 EDT
Needham analyst Laura Martin estimates that CBS' (CBS) Internet video services could generate $1.2B of revenue in 2020. She notes that Netflix's (NFLX) market cap is six times its revenue. If CBS' Internet video services are valued using that multiple, they would be worth $7.2B, or 30% of CBS' current market cap, according to the analyst. She keeps an $80 price target and a Buy rating on the shares.
News For CBS From the Last 2 Days
Sep 22, 2017 | 12:53 EDT
After two straight weekends at the top, "It," from Time Warner's (TWX) Warner Bros. and New Line Cinema, is likely to fall to third place, behind two new major releases. Opening this weekend are 21st Century Fox's (FOX, FOXA) "Kingsman: The Golden Circle," the sequel to 2015 action film "Kingsman," and Warner Animation Group's "The LEGO Ninjago Movie," the third film in the animated LEGO franchise. "Kingsman: The Golden Circle," starring Taron Egerton, Channing Tatum, Halle Berry, and Colin Firth, is expected to open in the $42M-$48M range domestically, while "The LEGO Ninjago Movie" is expected to open in the $30M-$35M range. Stephen King's horror novel remake "It" is expected to earn around $32M in its third weekend at theaters. Action thriller "American Assassin," produced by CBS Films (CBS) and distributed by Lionsgate (LGF.A, LGF.B),is expected to bring in $7.5M-$8M in its second weekend at theaters. Other publicly traded companies in filmmaking include Comcast (CMCSA, CMCSK), Disney (DIS), Sony (SNE), and Viacom (VIA, VIAB).