|Bid||0.00 x 800|
|Ask||0.00 x 3000|
|Day's Range||27.27 - 28.12|
|52 Week Range||23.79 - 34.89|
|Beta (3Y Monthly)||1.32|
|PE Ratio (TTM)||13.55|
|Earnings Date||Aug 5, 2019 - Aug 9, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||34.84|
As OTT media consumption expands, Gamut is positioned to meet marketplace demand NEW YORK , Aug. 14, 2019 /PRNewswire/ -- Gamut, the leader in premium OTT advertising, has announced a partnership with ...
More than two months before CBS Corp and Viacom Inc succeeded at a third attempt to recombine, controlling shareholder Shari Redstone had already decided the new company needed to get bigger. "We would want to look at something after that to ... develop more scale as we move forward,” Redstone said at The Information's Women in Tech, Media and Finance conference in June. To the audience of executives in the Times Square high rise overlooking the storied Paramount building, it was clear that her ambitions went well beyond the hard-won reunion of the two companies her father, Sumner Redstone, put together and then pulled apart 13 years ago during a very different era in media.
(Bloomberg Opinion) -- The road to a merger of CBS Corp. and Viacom Inc. was winding and treacherous, featuring boardroom clashes, legal battles and a MeToo moment. But on Tuesday, after years of friction and back-and-forth, the two Hollywood companies officially agreed to reunite. It’s about time. CBS is buying Viacom in an all-stock deal that values the company at about $18.5 billion including debt, formalizing a plan their controlling shareholder, Shari Redstone, has long pursued. The terms involve CBS exchanging 0.59625 a share for each Viacom share, and the new entity will be called ViacomCBS. The transaction puts CBS, the broadcaster, and Showtime, a premium cable channel, back under the same roof as Viacom’s networks, such as MTV, BET, Nickelodeon and Comedy Central, as well as the Paramount Pictures movie studio. Fourteen years ago, these businesses formed a single company. The endless melodrama that’s revolved around CBS and Viacom ever since provides important context in understanding why they need each other now.Beginning in the late 1980s, Shari Redstone’s father, the movie-theater mogul Sumner Redstone, spent what would normally be one’s retirement years snapping up media assets. Then, in 2006, he split his conglomerate in two. The reasons were just as ego-driven as they were business-minded, giving each of his two favorite successor candidates a company to run: Les Moonves with CBS and Showtime on one side and Tom Freston with Viacom and Paramount on the other. An elated Moonves said the move would resolve an internal “schizophrenia,” but it spawned a corporate-sibling rivalry. It wasn’t long before Redstone fired Freston (bizarrely, for not taking over the website MySpace), and Philippe Dauman was chosen as the next Viacom CEO, the one who would oversee its vicissitudes of fortune.Redstone called Dauman “the wisest man I have ever known.” He would often say Moonves was a “super genius.” He was wrong on both accounts. Under Dauman, Viacom’s cable networks lost popularity, and the movie business suffered steep losses, greenlighting small films with unjustifiably big budgets. CBS was the stronger sibling, and Moonves was considered especially skilled at crafting its programming lineup. However, Moonves was accused of abusing his power, fostering a culture of sexism, harassment and intimidation. Dauman was ousted in 2016; the MeToo movement ushered Moonves out two years later.Since then, Viacom has been staging a turnaround under CEO Bob Bakish, who will remain in his role as chief of the combined entity, working to deliver on the annual $500 million of promised cost savings. Shari Redstone, who stepped into her father’s shoes some time ago, will be the new chair of the board. Joe Ianniello, Moonves’s former No. 2 and interim successor, has worked to get back into Redstone’s good graces after CBS’s suit last year to strip her of her voting power. He will stay on as chairman and CEO of the CBS business, reporting to Bakish. It’s not the juicy ending fans of HBO’s “Succession” — a TV series partly inspired by the Redstones and other media moguls — would want or expect from CBS and Viacom, but it’s the civilized outcome the companies need so they can fight to stay relevant in their industry. Bakish’s track record makes him a solid pick to lead that charge, or perhaps dress up the new entity for a sale. A roll-up-your-sleeves-type manager, he’s injected life back into Viacom after many investors thought it was too far gone. He’s reduced the debt that was once a serious strain on the business, and he’s invested in growth opportunities, such as the advertising-supported Pluto TV streaming service. Paramount Pictures is making money again.Still, the years of dysfunction did its damage, and CBS and Viacom’s rivals only got bigger. Walt Disney Co. purchased the 20th Century Fox studio and other assets from Rupert Murdoch for $85 billion this year. That deal came on the heels of AT&T Inc.’s $102 billion takeover of Time Warner, the parent of HBO.(1) Discovery Inc. now owns former Scripps properties such as HGTV. Netflix Inc., meanwhile, has grown its global subscriber base to more than 150 million. My column last week explained in more detail why CBS and Viacom would benefit from greater scale, which saves them money and provides greater ability to negotiate with pay-TV operators and devise a more tenable streaming strategy.A combined CBS-Viacom may even be a merger candidate for Discovery next. There are similarities: Like Viacom, Discovery focuses on unscripted programming — or reality TV — and it’s controlled by a billionaire, John Malone, who at 78 is thinking about how to tidy up his estate. As owners of the also-rans of the industry, it may be time for Redstone and Malone to work out a deal. Starz, the premium channel owned by Lions Gate Entertainment Corp., another Malone investment, is an option as well. Sumner Redstone turned 96 in May and was deemed incapacitated by a judge last year amid litigation involving his trust. He is said to communicate using iPad prompts, including one that curses on his behalf; only those closest to the ailing billionaire know what button he pressed when he heard about the merger. But in April 2008, when Redstone was still able to participate in earnings calls, he said this:I think that Les [Moonves]'s strategy will work for CBS, and I think that Philippe [Dauman]'s strategy will work for Viacom. It is not true that success between these two companies is mutually exclusive.The irony is that his misplaced faith in those managers is why CBS and Viacom’s fates are intertwined once again.(1) Transaction values include debt.To contact the author of this story: Tara Lachapelle at firstname.lastname@example.orgTo contact the editor responsible for this story: Daniel Niemi at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering deals, Berkshire Hathaway Inc., media and telecommunications. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Discovery's (DISCA) second-quarter 2019 results benefit from strong advertising and distribution revenues in the U.S. Network segment.
Discovery Communications (NASDAQ: DISCA ) reported second-quarter earnings of 98 cents per share versus the analyst consensus estimate of $1.05. This is a 27.27% increase over earnings of 77 cents per ...
Discovery (DISCA) delivered earnings and revenue surprises of -1.01% and 0.09%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
SILVER SPRING, Md. , Aug. 6, 2019 /PRNewswire/ -- Discovery, Inc. ("Discovery" or the "Company") (NASDAQ: DISCA, DISCB, DISCK) today reported financial results for the quarter ended ...
Media behemoth Disney and pizza chain Papa John’s are both scheduled to release quarterly results after the market close Tuesday.
The New York Times Company (NYT) projects total subscription revenue in the second quarter to increase in the low to mid-single digits
Discovery (DISCA) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
(Bloomberg) -- Cable- and satellite-TV customers continue their headlong flight toward streaming services. Bloomberg Intelligence found growing subscriber losses for the major U.S. providers in each of the past four quarters. That sets an ominous stage for this week’s earnings reports from companies including Walt Disney Co., Viacom Inc. and Discovery Inc., which are moving into online services themselves but still rely on those providers to get their channels to viewers.To contact the reporter on this story: John J. Edwards III in Geneva at firstname.lastname@example.orgTo contact the editors responsible for this story: Nick Turner at email@example.com, Cécile Daurat, Rob GolumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The cover story in this weekend's Barron's suggests ways investors can play the shifting retail landscape. Other featured articles discuss why utility stocks still make sense and how a climate scientist ...
Discovery's (DISCA) second-quarter 2019 results are expected to benefit from the solid content portfolio and strong domestic advertising growth.
Take Two Interactive's (TTWO) first-quarter fiscal 2020 results are expected to benefit from portfolio strength and solid increase in recurrent consumer spending amid stiff competition.
Discovery (DISCA) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
It took a while to get going, but once the buyers stepped up on Wednesday, they didn't look back. Once the S&P 500 was moving, its 0.47% gain carried it to a record-high close of 3,019.56.Source: Shutterstock Snap (NYSE:SNAP) led the charge with its 18.75% gain. The social media newcomer aced last quarter's earnings and sales estimates, but more importantly, drove its best user growth since 2016. Sprint (NYSE:S) was a champ too though, rallying more than 8% during the regular session and gaining nearly 2% in after-hours trading in anticipation that its long-impending merger with T-Mobile (NASDAQ:TMUS) could be ultimately approved before the end of the week.At the other end of the spectrum, shares of iRobot (NASDAQ:IRBT) plunged nearly 17% after issuing alarming guidance about its foreseeable future. Tariffs are getting in the way.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Tech Stocks to Buy Now for 2025 All of them have moved too explosively to handicap headed into Thursday's session though. Rather, the stock charts of AT&T (NYSE:T), DISH Network (NASDAQ:DISH) and Discovery (NASDAQ:DISCA) have emerged as the best bets. DISH Network (DISH)The breakout move Dish Network shares mustered in late May and early June was the real deal, and still stands. DISH stock was pushed sharply lower in 2017 and 2018, and has a great deal of room to continue recovering.That recovery isn't likely to continue in a straight line though. In fact, the already overbought DISH stock moved into problematic territory early this week. Its new vulnerability has started to become a true problem with yesterday's bar that took shape on word that it would be buying some of the assets forced to be sold in order for T-Mobile and Sprint to merge. * Click to EnlargeIt's called a bearish outside day, where one day's open is above the prior day's high and the close on that same day is below the prior day's low. It's a sign of a sudden but decided change of heart, in this case, for the worst. * Underscoring the sharp shift in sentiment is the volume behind Wednesday's reversal. One more small step forward opened the floodgates of profit-taking. * The weight of the rally since the end of last year is enormous. Dish Network shares' RSI indicator pushed above 70, into overbought territory last week, which it rarely ever does. AT&T (T)AT&T has been recovering reasonably well from a 2017/2018 meltdown. In March, it firmly broke above a falling resistance line plotted in yellow on the weekly chart, and though erratic, has continued to make higher highs in the meantime.That rebound was threatened last week and early this week by a strong wave of selling that materialized on even stronger volume. But, the action over the course of the prior three days confirms it's still intact. In fact, it may be even stronger than initially presumed. * 7 Bad ETFs That Just Aren't Worth the Trouble This Year * Click to EnlargeTuesday's hammer-shaped reversal bar followed by a major bullish follow-through on Wednesday forms what's called a "morning star," where the middle bar acts as the pivot. * Underscoring the pivot action is that Tuesday's bar was a high-volume affair, followed by even more volume on Wednesday. Volume spikes tend to also mark pivots, as T stock has demonstrated more than once on the daily chart. * Still, there's something about last month's high at $34.37. The weekly chart indicates that level was also a ceiling a couple of times last year. Discovery (DISCA)Most stocks dance from time-to-time with their most important moving average lines, finding support and resistance there. In many cases, a cross of two moving average lines can serve as a major bullish or bearish clues.Few stocks are as subject to the guidance of their moving average lines as Discovery is, however. And, given the context of this week's trading action, investors would be wise to heed the clues, even if there's room for a bit of volatility in the "wrong" direction. * Click to EnlargeAs of last week, even when DISCA stock was peeling back from its June rally, we saw a golden cross, where the purple 50-day moving average line crosses above the white 200-day line. * We're also on the verge of seeing the gray 100-day average move above the white 200-day moving average line, underscoring the idea that the tide is bullish. * Backing out to a view of the weekly timeframe, the advance is no major surprise. It started early in the year by a visit with a rising support line that has been in place since the late-2017 low.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 5G Stocks to Connect Your Portfolio To * 7 Stocks to Sell This Summer Earnings Season * 6 Upcoming IPOs for July The post 3 Big Stock Charts for Thursday: Discovery, AT&T and DISH Network appeared first on InvestorPlace.
Sports streaming service DAZN said on Thursday its subscribers would be able to receive Eurosport in Germany and three other European countries after a deal with the channel's owner Discovery. Under the agreement, live and on-demand content from Eurosport 1 HD and Eurosport 2 HD will be available to DAZN subscribers in Germany, Austria, Italy, and Spain from Aug. 1.
Aug.07 -- Gunnar Wiedenfels, Discovery Communications Inc. chief financial officer, discusses the company's second-quarter results, viewer demographics, and streaming expansion efforts on "Bloomberg Markets: European Close."