It’s time for another edition of Odds & Ends where we share some random articles and pieces that we have been reading… 1. Barron’s is bullish on ‘small-scale conglomerate’ Graham Holdings (GHC) and thinks it’s sorely undervalued on a sum of the parts basis. Although the stock is up about 17% from the date of publishing to ~$423,… Read More »
Every year Barron’s gathers a group of asset management luminaries for a roundtable discussion. The group collectively manages many many billions of dollars and includes people like Jeffrey Gundlach, Mario Gabelli and Meryl Witmer. While the discourse includes a bit about the overall macro environment, the focus is mainly on each individual’s top investments for the coming year.… Read More »
For years, Disney (DIS) shares were propelled upwards by consistently better results at its media network unit including ABC and ESPN. As ‘Event TV’ became live TV’s stand against streaming and recording options, sports became especially lucrative due to the high fees they were able to charge. Of course, things change. Costs went up, NFL & ABC ratings… Read More »
When Starz (STRZA) was first spun out of Liberty Media (LMCA) back in 2013, it seemed like only a matter of time before the company was acquired. Many rationalized the spinoff as purely an attempt to get the company sold and buyout rumors always seemed to swirl around the company (and keep its price up). It didn’t happen… Read More »
The Dolan family has spent the better part of the decade spinning off assets. The dynasty behind Cablevision(CVC) spun off the Madison Square Garden Company(MSG) in 2010, followed by AMC Networks(AMCX) in 2011. Now, all three companies are in the midst of radical transformations. Early this morning, Cablevision announced that it would be acquired by French telecom Altice… Read More »
After 31 rounds, the FCC’s AWS-3 auction has reached $36 Billion in bids. This has pushed up the value of Dish Network’s(DISH) shares, as the company already owns spectrum that, in the eyes of some analysts, is more valuable than what is currently being auctioned. In addition, TMF Associates identifies Dish as a major bidder in the current… Read More »
While Mr. Malone was busy making other news, Liberty Global (LBTYA) revealed in a filing related to a separate transaction that it was considering a spinoff of its Latin American businesses. A John Malone company thinking about a spinoff? In the words of Capt. Louis Renault ‘Im shocked, shocked’. From the 8-K filing: Liberty Global is disclosing in the offering memorandum… Read More »
John Malone does it again. In the first day of trading after its spinoff of Liberty Media(LMCA,LMCB,LMCAD,LMCBD), Starz(STRZA,STRZB) jumped 9.79% to close at $15.59. Despite a $1.1 billion debt burden, the Starz and Encore premium movie channels are thought to be a coveted prize for a larger media company. Starz is also investing heavily in original content such… Read More »