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Fly News Breaks for August 22, 2016
Aug 22, 2016 | 09:18 EDT
Piper Jaffray analyst Michael Olson notes that Rovi (ROVI) announced a 10-year renewal with DISH (DISH) and while the terms were not disclosed, economics should be similar to recent deals, likely in the range of 21c-22c per subscriber per month. With DISH in the fold, nine of the ten major U.S. TV service providers now license Rovi guide patents, the analyst said, with Comcast (CMCSA; CMCSK) remaining the lone holdout. Olson believes discussions with Comcast are at the economic level, and is confident in Comcast signing, potentially in the first half of 2017. He reiterates an Overweight rating and $27 price target on Rovi's shares.
News For ROVI;CMCSA;CMCSK;DISH From the Last 2 Days
Nov 12, 2018 | 16:19 EDT
Stocks opened in negative territory and lost additional ground throughout the session. The losses were... To see the rest of the story go to See Story Here
Nov 12, 2018 | 14:17 EDT
The American Cable Association, or ACA, a lobbying group for more than 700 smaller TV and broadband companies, sent a letter to the Department of Justice asking for an investigation into Comcast over alleged antitrust violations. Comcast’s smaller rivals... To see the rest of the story go to See Story Here
Nov 12, 2018 | 13:40 EDT
The American Cable Association has asked antitrust law enforcers at the Department of Justice to open an investigation into the business practices of Comcast-NBCU, "focusing on harms stemming from the dominant communications firm's control of cable systems, TV stations, and regional sports networks concentrated in some of the largest local markets in the country." The agency's request came in a Nov. 6 letter to Makan Delrahim, Department of Justice's Assistant Attorney General for Antitrust. In the letter, ACA and its members "pledged to cooperate fully to assist in the investigation, including by providing information about Comcast-NBCU's practices." "By opening a formal investigation, the DOJ, which has already put Comcast-NBCU on notice, can take the next step to gather facts about the company's activities and ensure consumers and competition are protected. Given the enormity of Comcast-NBCU's market presence and incentive to engage in anticompetitive harm, such an investigation is fully warranted," ACA President and CEO Matthew Polka said in statement. President Trump highlighted the ACA's request this afternoon in a tweet. Shares of Comcast are down 30c to $38.04 in afternoon trading. Reference Link
Nov 12, 2018 | 13:32 EDT
Limelight Networks (LLNW) announced that Patricia Hadden, Senior Vice President of Audience Development and Partnerships of NBCUniversal Digital Enterprises (CMCSA), and Marc DeBevoise, President and Chief Operating Officer of CBS Interactive (CBS), have joined its board of directors. "We're excited to have Patricia and Marc join the Limelight board of directors, bringing with them a wealth of experience in the media industry," said Bob Lento, CEO of Limelight Networks. "Marc's experience leading major streaming services and prominent streamed events such as the Super Bowl and Grammys and Patricia's strategic knowledge of the media landscape, plus invaluable experience using consumer insights to drive business growth, will directly benefit Limelight's customers and our shareholders."
Nov 12, 2018 | 13:16 EDT
President Donald Trump tweeted: "American Cable Association has big problems with Comcast. They say that Comcast routinely violates Antitrust Laws. "These guys are acting much worse, and have much more potential for damage to consumers, than anything AT&T-Time Warner would do." Charlie Gasparino Reference Link
Nov 11, 2018 | 19:27 EDT
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Alibaba (BABA) announced that it generated $30.8B of gross merchandise volume on November 11, 2018, an increase of 27% compared to 2017. However, according to Reuters, while Alibaba cashed a record in sales on Sunday during its 24-hour online retail frenzy Singles' Day, the event's annual growth dropped to its slowest-ever rate, falling from 39% to 27%, at the low end of analyst estimates. 2. SAP (SAP) and Qualtrics International (XM) announced they have entered into a definitive agreement under which SAP SE intends to acquire Qualtrics. Under the terms of the agreement, SAP will acquire all outstanding shares of Qualtrics for $8B in cash. SAP has secured financing in the amount of EUR$7B to cover purchase price and acquisition-related costs. The purchase price includes unvested employee incentive compensation and cash on the balance sheet at close. Subject to customary closing conditions and attainment of regulatory clearances, the acquisition is expected to close in the first half of 2019. 3. Dollar Tree (DLTR) has successfully dangled deals in front of consumers for years, but its "magic touch" has faded this year, putting the company's stock in the bargain bin, Avi Salzman wrote in this week's edition of Barron's. Dollar Tree's woes stem from its decision to buy Family Dollar three years ago, with its results deteriorating since and investors punishing the stock, the publication noted. 4. Christmas came early, with Comcast (CMCSA) subsidiary Universal's "Dr. Seuss' The Grinch" opening to $66M from 4,414 North American theaters. The movie, which is the first family event film of the year-end corridor, earned an A- CinemaScore. 5. Boeing (BA), Lockheed Martin (LMT), and General Dynamics (GD) saw positive mentions in Barron's.
Nov 11, 2018 | 17:41 EDT
Christmas came early, with Comcast (CMCSA) subsidiary Universal's "Dr. Seuss' The Grinch" opening to $66M from 4,414 North American theaters. The movie, which is the first family event film of the year-end corridor, earned an A- CinemaScore. BOX OFFICE RUNNERS-UP: 21st Century Fox's (FOX, FOXA) "Bohemian Rhapsody" placed number two, ending is second outing with $30.9M. Behind it was Viacom (VIAB) subsidiary Paramount's "Overload," finishing its debut weekend with $10.1M from 2,859 theaters. Disney's (DIS) "The Nutcracker and the Four Realms" placed number four with an estimated $9.6M from 3,766 locations. Rounding out the top five, Sony's (SNE) "The Girl in the Spider's Web: A New Dragon Tattoo Story" earned $8M in its first weekend from 2,929 theaters. Other publicly traded companies in filmmaking include AT&T (T) subsidiary Warner Bros' and Lionsgate's (LGF.A, LGF.B).