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Media Stocks Caught In Downdraft As Fears Of European Default Grow

By DAVID LIEBERMAN, Executive Editor | Thursday December 8, 2011 @ 3:54pm PSTTags: AOL, Barnes & Noble, Cablevision, CBS, Coinstar, Comcast, Crown Media, DirecTV, Dish Network, Disney, E.W. Scripps, Gannett, Live Nation, Madison Square Garden Co, Martha Stewart Living Omnimedia, McClatchy, News Corp, Redbox, Sirius XM, Sony, The New York Times Company, Time Warner, TiVo, Verizon, Viacom

The trading day ended with a thud. The benchmark Standard & Poor’s 500 wound up -2.1% as word spread that Germany might balk at a proposal to help bail out debt-laden members of the European Union including Greece and Portugal. That affected media stocks; the Dow Jones U.S. Media Index fell 3%. Disney was the hardest hit among the Big Guns, with shares off 3.2%. It was followed by News Corp (-3.1%), CBS (-3%), Comcast (-2.9%), Time Warner (-2.7%), Viacom (-2.3%), and Sony (-2.1%). Newspaper companies were big losers led by McClatchy (-10%), New York Times (-7.3%), E.W. Scripps (-6.5%), and Gannett (-6.3%). But others weren’t far behind: Cablevision (-6.1%) hit a 52-week low. The losers list also included Crown Media (-6.6%), AOL (-5.9%), DirecTV (-4.7%), Live Nation (-4.4%), Barnes & Noble (-4.3%), TiVo (-4.2%), Sirius XM (-4.2%) and Dish Network (-4.2%). Today’s few gainers were led by Coinstar, up 7.8% on a report that its Redbox unit will team up with Verizon to offer an online video service. Martha Stewart Living Omnimedia was up 1.7% the day after J.C. Penney said it bought 16.6% of the company. And Madison Square Garden was up 1.7%, hitting a 52-week high, after Morgan Stanley’s Benjamin Swinburne changed his recommendation to “overweight” from “underweight” following the resolution of the NBA lockout.

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Media Stocks Hit By Market Fears Of Impasse Over U.S. Debt Cuts

By DAVID LIEBERMAN, Executive Editor | Monday November 21, 2011 @ 12:50pm PSTTags: Barnes & Noble, CBS, Cinedigm, Comcast, Crown Media, Dish Network, Disney, E.W. Scripps, Entercom, LIN TV, Live Nation, McClatchy, McGraw-Hill, National CineMedia, Netflix, Radio One, RealD, Sirius XM, Sony, Time Warner, Viacom, Westwood One

The federal government will have to slash $1.2T in spending, mostly beginning in 2013, if the 12-member congressional Super Committee can’t strike a deficit reduction deal soon. They still appear split — even though, as a practical matter, … Read More »

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TV Station Groups Unite To Offer Social Networking And Info To Mobile Devices

By DAVID LIEBERMAN, Executive Editor | Tuesday November 15, 2011 @ 8:32am PSTTags: Belo Corp, E.W. Scripps, Gannett, Media General, Meredith Corp.

The partnership involves big names in local TV including Belo, Cox, E.W. Scripps, Gannett, Hearst, and Media General. They want to enhance TV viewing beginning in early 2012 by offering an app that enables Apple or Android mobile devices to automatically detect what you’re watching. The stations then would feed additional info about the shows — including local and syndicated fare — as well as opportunities to connect with other viewers. Yes, they’ll also send ads to your device. Here’s how they describe the free service, to be called ConnecTV:

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E.W. Scripps Cozies Up To ABC With $212M Deal For McGraw-Hill TV Stations

By DAVID LIEBERMAN, Executive Editor | Tuesday October 4, 2011 @ 8:00am PDTTags: ABC, E.W. Scripps, McGraw-Hill, Nexstar

The nine-station acquisition includes ABC affiliates in Denver, Indianapolis, San Diego, and Bakersfield, CA. When the transaction is complete, 10 of Scripps’ 19 stations will be ABC affiliates – making it the largest independent owner of ABC stations. McGraw-Hill’s other stations are low-power affiliates of Spanish language network Azteca America. Wells Fargo analyst Marci Ryvicker says this morning that the terms are “a positive for the broadcast TV space” because they reaffirm the value of stations at a time when potential buyers are growing concerned about the prospects for the ad market. Nexstar is still looking to sell. McGraw-Hill wanted to unload its stations as it prepares to split into two companies, and deal with shareholder concerns that it has become too unfocused. Here’s the release: Read More »

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UPDATE: Media Stocks Down, But With Exceptions, As Overseas Debt Fears Grow

By DAVID LIEBERMAN, Executive Editor | Wednesday August 10, 2011 @ 8:59am PDTTags: AOL, Disney, E.W. Scripps, Gannett, LIN TV, Lionsgate, Live Nation, Martha Stewart Living Omnimedia, NASDAQ, New York Stock Exchange, Rovi, Standard & Poor's, The New York Times, Time Warner Cable, Westwood One

UPDATE 4:10 PM: The markets couldn’t sustain an early afternoon rally amid concerns that France might lose its AAA debt rating and that Spain or Italy might default on payments. The Dow Jones Industrial Average fell … Read More »

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