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01/06/2003
Morgan Stanley Analyst Plugs 2003 Cable Values
BY MAVIS SCANLON Will cable stocks finally get some respect this year? Commenting to The New York Times last week, Morgan Stanley analyst Richard Bilotti predicted that cable companies would see higher strategic values than content companies in 2003. Underlying the shift are three main themes, he said. First, despite big cable companies being drastically […]
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01/06/2003
Rates Up, Subscribers Down
BY ALICIA MUNDY, K. C. NEEL AND STACI D. KRAMER The Federal Communications Commission Ninth Annual Report on Video Competition, released New Year’s Eve, confirms that cable rate hikes were much higher than the nation’s rate of inflation last year and noted that cable began losing subscribers in the second half of 2002. In analyzing […]
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01/06/2003
SPORTS NETS Get Closer to Home
BY STACI D. KRAMER Brushing aside the notion that bigger is better when it comes to regional sports networks, several large cable operators and team owners are betting they can run successful regional sports networks (RSNs) anchored by only one major league team and, in one case, only college and high school sports. For multiple […]
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01/03/2003
Good Riddance '02: It Can't Get Worse
It comes as no surprise that cable stocks fared far worse than the Dow and NASDAQ last year. But we were surprised by just how bad the numbers actually were. None of the MSOs could come close to the Dow’s 17% drop; and only 1 MSO fared better than NASDAQ’s 33% decline (that was Cox […]
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01/03/2003
In the States
Viacom [VIA] sold its NYC telephone booth biz to Van Wagner for an undisclosed price. — TiVo [TIVO] amended its product development agreement with DirecTV, according to an SEC filing. The amendment relates to the specifications, development schedules, the payment schedule and transition services for the development of "Series 2" DirecTV receivers. Specific details weren’t […]
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01/03/2003
Business/Finance
UBS Warburg added BSkyB [BSY] to its "Global 50 Highlighted Stocks" list and deleted AOLTW [AOL]. — EchoStar [DISH] announced the early redemption of its outstanding 91/4% sr notes due ’06. The $375mln principal amount of the notes will be repurchased Feb 1 at 104.525%. Interest will be paid through the redemption date. — Sanford […]