Sign In

Media & Entertainment

John Malone wields hammer over media coffin

6 Sep 2023

A dispute has cut Charter’s cable viewers off from Disney content. Charter backer Malone is betting traditional TV is fading, risking $17 bln of rich fees for Disney. Forcing a showdown makes sense. It’s hard to see why distributors should subsidize the pivot to streaming.

Barbie’s a boss but not a business model

5 Sep 2023

Warner Bros says the doll-based movie, its biggest ever at $1.4 bln, will boost cash flow and help pay down debt. The contribution is welcome amid a costly writers’ strike. Relying on old brands has a patchy track record, however, partly because they’re up against more new faces.

DeSantis chose wrong Disney battle, right war

22 Aug 2023

Homing in on the $157 billion entertainment company was politically foolish. But the Florida governor is right that Disney's sweetheart deal doesn't make sense. Other similar arrangements are finite and fairer, and still end up bad for states' finances.

TikTok challenger backpedals into public arena

21 Aug 2023

After nixing a $5 bln reverse merger last year, Triller plans to sell shares in a direct listing. Music videos and live-streamed brawls hosted by stars such as Snoop Dogg have attracted brands. A pivot to social media tools and questionable growth, however, make it a lightweight.

Saudi binge is fiscal free kick for European clubs

18 Aug 2023

The Kingdom’s top league has spent some 600 mln euros this year buying star soccer players, like striker Neymar. The boom in transfers helps Europe’s teams meet new wage rules. It could be an own goal, but Saudi’s dream of becoming a football powerhouse looks like a distant risk.

Wynn shrewdly pares online betting chips

14 Aug 2023

In the face of fierce competition from MGM, DraftKings and others, Wynn Resorts is concentrating its digital sports betting in markets with actual casinos. Like poker, online betting is a winner-takes-most game. That means there will be loads of losers.

Fairy-tale ending will elude Disney in India

11 Aug 2023

The $168 bln Magic Kingdom is bleeding subscribers in the emerging market. Boss Bob Iger wants to sell or find a partner to salvage the business’ cratering value. Even if he can do a deal with giants like Reliance or the enlarged Sony-Zee, the terms will be less than blockbuster.

Altice’s beaten-up debt is only a bet for the bold

8 Aug 2023

Patrick Drahi’s telco empire faces a funding crunch, with $60 bln of debt coming due by 2030. He must pull off a tough turnaround in France and sell assets, a tricky task made even harder by a corruption probe. Even with current high yields, Altice debt is a risky punt on Drahi.

Adland consumer-goods boon has limited shelf-life

4 Aug 2023

Food and beverage giants like PepsiCo are ramping up marketing amid soaring sales. That’s a fillip for WPP and peers, which have seen revenue from tech clients stumble. The risk is that, with inflation falling, consumer goods’ momentum slows before Big Tech gets back on its feet.

Britain’s trustbuster has a shot at redemption

3 Aug 2023

Three months after saying no, the UK’s antitrust watchdog is giving Microsoft’s $69 bln Activision acquisition a second look. The U-turn is hurting the CMA’s reputation. But if Microsoft could acquire only parts of its quarry, the trustbuster’s blushes may yet be spared.

Dish Network enters dangerous financial orbit

31 Jul 2023

Charlie Ergen’s satellite operator is among the many companies to scrape by on low interest rates. It borrowed heavily to bet on wireless spectrum. With $5 bln of debt maturing soon, higher borrowing costs and pay-TV cash flow ebbing, it now faces a predicament others will, too.

Capital Calls: Biotech alarm, Spotify’s tightrope

25 Jul 2023

Concise views on global finance: Pharma supplier Danaher’s reduced forecast contrasts biotech doldrums against broader market exuberance, in a warning sign for investors; the Swedish music streamer is caught between margin-hungry investors and music labels.

Saudi Mbappé bid even less rational than it looks

25 Jul 2023

State-owned Al Hilal offered $1.1 bln in fees and pay for soccer star Kylian Mbappé, reports say. Spain’s LaLiga gets less in international broadcast revenue a year. Saudi’s nascent league would gain, but the data doesn’t suggest either it or “sportswashing” overall will work.

AMC can build Dreamhouse on Barbenheimer buzz

24 Jul 2023

Shares in $2.6 bln theater chain AMC soared after a judge delivered its shareholders a win. Record-breaking sales from the “Barbie” and “Oppenheimer” releases suggest in-person movies have a shot. With a multiple not too terribly high, AMC’s survival isn’t fantasy.

Capital Calls: Netflix, Thailand

20 Jul 2023

Concise views on global finance: The streaming giant warned its revenue will fall short of Wall Street’s expectations; a court’s move to suspend the leader of the election-winning Move Forward Party as a lawmaker raises the stakes in the underperforming $500 bln economy.

Capital Calls: AMC’s meme investor backlash

18 Jul 2023

Concise views on global finance: A new lawsuit looking to force a shareholder meeting adds to growing antagonism between $2 bln movie theater chain AMC and the retail investors who buoyed its business during the pandemic. For boss Adam Aron, meme stock stardom comes at a cost.

Sony’s Microsoft truce marks new gaming reality

17 Jul 2023

After opposing its US rival's $69 bln Activision buy, the Japanese group signed a deal over the latter's "Call of Duty" title. It will help Microsoft appease regulatory holdouts, but Sony benefits too. Boss Kenichiro Yoshida can now focus on how to outplay the sector's behemoth.

Megalomania runs in the Disney DNA

13 Jul 2023

The $165 bln media company is letting boss Bob Iger stay until 2026 despite a sagging stock price. Iger’s predecessor Michael Eisner stuck around forever, too, and that didn’t end well. With Disney in a serious transition, Iger isn’t doing himself – or shareholders – any favors.

Meta’s Threads isn’t worth 11 Twitters

7 Jul 2023

The social media company’s market capitalization has ballooned $500 bln since Elon Musk bought its smaller competitor for $44 billion. Measures boss Mark Zuckerberg has taken are helping. But even if he puts Twitter out of business, Meta has already received the benefit.