Media & Entertainment

Corona Capital: Bond bonanza, Albertsons

12 Jan 2021

Concise views on the pandemic’s corporate and financial fallout: U.S. companies' bond issuance in 2020 hits records across the board; and America’s No. 3 grocer continues to take advantage of the shopping habits created by Covid-19 lockdowns.

Corona Capital: KKR/music, IMF

11 Jan 2021

Concise views on the pandemic’s corporate and financial fallout: Private equity giant KKR buys a stake in hip OneRepublic music royalties; and the International Monetary Fund half-heartedly bumps up its target lending cushion.

ViacomCBS is stuck between blockbuster and indie

7 Jan 2021

The $22 bln media group is selling Simon & Schuster. Boss Bob Bakish should keep the M&A book open. Disney’s streaming success is turning the screws on rivals with less content and scale. Despite recently reuniting two companies, ViacomCBS needs to be either bigger or smaller.

Corona Capital: Video rental stores, Conagra

7 Jan 2021

Concise views on the pandemic’s corporate and financial fallout: A last surviving U.S. video rental chain shutters, Conagra’s boosted sales aren’t enough for investors.

Corona Capital: Commercial real estate, IBM

5 Jan 2021

Concise views on the pandemic’s corporate and financial fallout: Commercial office real estate is Zoom’s mirror image; IBM taps former Goldman-exec Gary Cohn.

2020 hindsight: Our best-read stories of the year

31 Dec 2020

The virus and U.S. politics were the focus for readers on Reuters.com. But Refinitiv terminal and Breakingviews’ website subscribers displayed more eclectic tastes. Their top picks included stories on India’s richest man, triathlons, Swedish oat milk, and big data.

IPO engineers get double Christmas bonus

24 Dec 2020

A new blank-check company that could spawn another rather than starting over is no surprise after 2020’s surge in SPAC activity. Meanwhile watchdogs have approved the raising of capital alongside so-called direct listings. The menu of options for going public is getting longer.

European soccer will try on American-style pay cap

24 Dec 2020

Empty stadia wiped out nearly $4 bln in sales, pushing even rich clubs like Manchester United and Barcelona into the red. A partial return for fans barely eases the pain. To save itself, the beautiful game will have to import the U.S. National Football League’s limit on salaries.

An indie ESPN will keep Disney ahead of the game

22 Dec 2020

The $300 bln company is shifting its focus to Disney+. The sports network is still valuable but high programming costs from franchises like the NFL and declining subscribers due to cord cutting are looming problems. An ESPN spinoff is the way boss Bob Chapek can make his mark.

Picture this: Netflix and Amazon buy cinema chains

22 Dec 2020

The tech giants’ streaming services have become more powerful with people cooped up at home. But competition has intensified, and theatres remain an important marketing channel. To extend their leads, bundling box office access with a subscription serves as a key differentiator.

Corona Capital: Holiday Zoom

18 Dec 2020

Concise views on the pandemic’s corporate and financial fallout: The video call company is removing the 40-minute time limit on free calls for the holidays – a gift it can easily afford, and one that may not be appreciated.

Corona Capital: Filming drama, Spanish bank

16 Dec 2020

Concise views on the pandemic’s corporate and financial fallout: Actor Tom Cruise’s outburst about social distancing may not have been scripted, but it’s on point; Spanish bank Sabadell lines up a new leader.

Corona Capital: NFL’s ad fumble

14 Dec 2020

Concise views on the pandemic’s corporate and financial fallout: This year fewer people are watching the National Football League, and that means broadcasters like Comcast’s NBC are lowering prices for commercials or offering free ad space.

Disney streaming empire strikes back at Netflix

11 Dec 2020

With a trove of content including the Marvel and Star Wars franchises, the Magic Kingdom is eyeing 350 mln streaming subscribers in four years' time – more than double the count now. For Netflix, staying ahead may mean stumping up to buy a content-producing studio.

Viewsroom: Davos in Singapore, Bob Dylan sells out

10 Dec 2020

The World Economic Forum’s decision to hold its annual chinwag in Southeast Asia instead of Switzerland this coming spring isn’t as simple as it sounds, Davos vets Peter Thal Larsen and Una Galani tell Rob Cox. Meantime, Anna Szymanski breaks down the folk bard’s catalogue deal.

Dylan sale suits him, but not changin’ times

7 Dec 2020

Universal Music is buying the 79-year-old songwriter’s entire catalog. With touring on hold and asset prices high, cashing out makes sense for older stars. Greener artists may need the dosh, but should think twice before selling too much work as the shape of the industry changes.

Corona Capital: Movie releases, Ads, Running

4 Dec 2020

Concise views on the pandemic’s corporate and financial fallout: HBO Max uses its muscle on movie releases; advertising wins some and loses some; Brooks’ beast year.

Murdoch lets Bertelsmann pay up for publishing

25 Nov 2020

The German media group will buy Simon & Schuster for an eye-popping $2.2 billion in cash. It already owns the massive Penguin Random House and size gives it more power. But it also means U.S. regulators could thwart the deal, leaving Murdoch an opening.

Music royalty boom comes with dissonant undertones

25 Nov 2020

Hipgnosis, set up by bigwig Merck Mercuriadis, has spent $1.8 bln on hits by artists from Rihanna to 50 Cent. A fat yield and low returns elsewhere explain the fund’s pull. Investors must close their ears to poor disclosure, manic dealmaking and a rapidly changing industry.

Corona Capital: Cash stockpiles, Empty real estate

23 Nov 2020

Concise views on the pandemic’s corporate and financial fallout: U.S. companies hoard money; retailer rout causes real estate double whammy.