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Fly News Breaks for July 5, 2016
DISH, ROVI, CMCSA, VZ
Jul 5, 2016 | 09:55 EDT
Piper Jaffray analyst Michael Olson views Rovi's (ROVI) contract renewal with Verizon (VZ) as "another step" in the right direction. The analyst believes the economics of the deal are similar to previous recent deals, likely in the range of 21c-23c per subscriber per month. While a renewal with Comcast (CMCSA) does not appear imminent, a new deal with DISH (DISH) could be signed within months, Olson tells investors in a research note. He maintains an Overweight rating on Rovi with a $29 price target.
News For ROVI;VZ;CMCSA;DISH From the Last 2 Days
CMCSA
Jul 16, 2018 | 16:15 EDT
In its quarterly letter, Netflix stated: "YouTube and Netflix are two leading global (ex-China) internet entertainment services. HBO and Disney are evolving to focus on internet entertainment services. Amazon and Apple are investing in content as part of larger ecosystem subscriptions...We believe that consumer appetite for great content is broad and that there is room for multiple parties to have attractive offerings. We anticipate more competition from the combined AT&T/Warner Media, from the combined Fox/Disney or Fox/Comcast as well as from international players like Germany's ProSieben and Salto in France. Our strategy is to simply keep improving, as we've been doing every year in the past."
CMCSA
Jul 16, 2018 | 09:38 EDT
In a regulatory filing after the close on Friday, Disney (DIS) stated: "On July 11, 2018, Comcast announced a revised cash offer for the fully diluted share capital of Sky at an offer price of GBP14.75 per Sky share, which we refer to as the revised Comcast Sky offer. The revised Comcast Sky offer was recommended by the Sky independent committee. 21CF may elect not to increase the price offered by it in the Sky acquisition and any increase in the debt financing for the Sky acquisition would require Disney's consent, which Disney may elect not to provide. Any sale by 21CF of its interest in Sky would require Disney's consent. Completion of the Sky acquisition is not a condition to either party's obligation to consummate the transactions. If the Sky acquisition is not completed by 21CF for any reason, then upon consummation of the transactions, New Disney would indirectly acquire 21CF's approximately 39% interest in Sky. Completion of the Sky acquisition will not affect the amount or form of consideration that stockholders of 21CF receive in the transactions. In the event that the transactions are not completed due to the failure to obtain regulatory approvals or in certain other limited circumstances, Disney has agreed to reimburse 21CF for an amount equal to the difference between the cash consideration of GBP14.00 and GBP13.00 for each share of Sky purchased by 21CF pursuant to the Sky acquisition, plus any interest and fees on such amount."
CMCSA
Jul 16, 2018 | 09:38 EDT
Comcast (CMCSA) is seen as highly unlikely to raise its bid for the assets of 21st Century Fox (FOXA) that Disney (DIS) has reached an agreement to acquire, CNBC's David Faber reports, citing sources. Comcast is focused on winning the assets of (SKYAY), Faber adds.
CMCSA
Jul 16, 2018 | 07:35 EDT
Notable call activity was cited Friday in Comcast (CMCSA), Square (SQ), 21st Century Fox (FOXA), Roku (ROKU), PagSeguro Digital (PAGS), Lowe's (LOW), Skechers (SKX), FMC Technologies (FTI), BB&T (BBT), and KeyCorp (KEY).
VZ
Jul 15, 2018 | 19:36 EDT
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. President Donald Trump said over the weekend that the EU is a "foe" to the U.S. for "what they do to us in trade," but "that doesn't mean they are bad," according to Reuters, citing an interview aired by CBS's "Face the Nation" news program. The publication also reported that Trump said he intends to run for re-election in 2020 because "everybody wants me to." 2. The U.S. House Judiciary Committee will hold a hearing on Tuesday to take testimony from Facebook (FB), Alphabet (GOOG; GOOGL) YouTube unit and Twitter (TWTR) on whether social media companies are filtering content for political reasons, according to Reuters, citing the committee chairman. 3. Apple's (AAPL) next iPhone may debut something called the "eSIM," which could have very big implications for AT&T (T), Verizon Communications (VZ), Sprint (S) and T-Mobile (TMUS), Tiernan Ray wrote in this week's edition of Barron's. The sSIM is not a card, but a chip that can be soldered to the circuit board of the phone at the factory, allowing for the device to be smaller and enabling the chip to programmed remotely, "over the air," he noted. The eSIM could herald the breakdown of the traditional relationship with carriers, as they would no longer be the ones to provide a SIM to make the phone work, the report added. 4. Sony's (SNE) "Hotel Transylvania 3: Summer Vacation" easily placed number 1 in North America, earning $44.1M from 4,267 theaters. Overseas, the film ended the weekend with $46.4M from 44 markets for a global cume of $100.2M, including special Amazon (AMZN) Prime screenings in the U.S. and early foreign grosses. "Hotel Transylvania 3: Summer Vacation" earned an A- CinemaScore and sports a 60% Rotten Tomatoes score. 5. American Electric Power (AEP), NextEra Energy (NEE) and Xcel Energy (XEL) saw positive mentions in Barron's.
CMCSA
Jul 15, 2018 | 17:32 EDT
Sony's (SNE) "Hotel Transylvania 3: Summer Vacation" easily placed number 1 in North America, earning $44.1M from 4,267 theaters. Overseas, the film ended the weekend with $46.4M from 44 markets for a global cume of $100.2M, including special Amazon (AMZN) Prime screenings in the U.S. and early foreign grosses. "Hotel Transylvania 3: Summer Vacation" earned an A- CinemaScore and sports a 60% Rotten Tomatoes score. BOX OFFICE RUNNERS-UP: Disney (DIS) and Marvel's "Ant-Man and the Wasp" followed at number 2, grossing $28.8M from 4,206 theaters. Behind it was Universal's (CMCSA; CMCSK) "Skyscraper," ending its debut weekend with $25.5M from 3,782 theaters. Disney and Pixar's "Incredibles 2" placed number 4, earning $16.2M. Rounding out the top five, Universal and Amblin's "Jurassic World: Fallen Kingdom" ended the weekend with an estimated $15.5M. Other publicly traded companies in filmmaking include 21st Century Fox (FOXA), Lionsgate (LGF.A), Warner Bros. (TWX) and Viacom's (VIAB).
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