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DISCA

Discovery

$26.80

0.41 (1.55%)

08:46
07/31/17
07/31
08:46
07/31/17
08:46

Discovery assuming 2024 Olympic Games will be in Paris

Discovery CFO Gunnar Wiedenfels, discussing the financial impact of the Olympics for 2018 and beyond on the company's earnings and deal announcement call, said the company's current expectation is that the 2024 Games will be in Paris. With that working hypothesis, "which represents our best expectations at this time," Scripps expects to recognize 10% of the total of $1.4B rights cost in the first quarter of 2018, with 30% then recognized in 2020, 15% in 2022 and 45% in 2024. For next year's Olympics, Discovery expects an additional $100M of production and other costs to also be recognized in the first quarter. Scripps does not expect the Olympic to have a material impact on full year profit in FY18, repeating its prior view that the majority of revenues will come from sublicensing.

  • 31

    Jul

DISCA Discovery
$26.80

0.41 (1.55%)

07/20/17
WELS
07/20/17
INITIATION
WELS
Market Perform
Scripps Networks initiated with a Market Perform at Wells Fargo
Wells Fargo started coverage of Scripps with an $82 price target and a Market Perform rating. The firm says the company has a number of strengths, including "very low affiliate fees, extremely high engagement, an educated female audience," better ratings than peers and continued ad revenue growth of around 5%. However, the firm says it doesn't necessarily believe that Discovery (DISCA) is "the right partner" for Scripps, and "it's tough to get overly excited" about Scripps at the current stock price.
07/20/17
07/20/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tesla (TSLA) initiated with a Neutral at Citi. 2. Johnson & Johnson (JNJ) reinstated with an Outperform at Credit Suisse. 3. Tile Shop (TTS) initiated with a Hold at Loop Capital. 4. Spring Bank Pharmaceuticals (SBPH) initiated with an Overweight at Cantor. 5. Discovery (DISCA) and Scripps Networks (SNI) were initiated with a Market Perform at Wells Fargo. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/25/17
NEED
07/25/17
NO CHANGE
NEED
Hold
Needham likes Scripps Networks best as Discovery merger partner
Needham analyst Laura Martin believes Discovery (DISCA) will decide to protect its U.S. asset value rather than exit, and likes Scripps Networks (SNI) best as a merger partner for the company. The analyst reiterates a Hold rating on Discovery's shares.
07/26/17
WELS
07/26/17
NO CHANGE
WELS
Scripps Networks could be acquired for $91-$95 per share, says Wells Fargo
After the Wall Street Journal reported that Discovery (DISCA) and Viacom (VIAB) are interested in buying Scripps' (SNI) assets, Wells Fargo estimates that Scripps could be acquired for $91-$95 per share. The firm believes that the acquirer or acquirers could realize a total of about $175M of non-programming expense synergies. It keeps a Market Perform rating on Scripps.

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MKSI

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$1.18

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