Disney (DIS) continues to act better than any other mega cap media stock. I think there are three reasons behind the good action. First, Bob Iger has clearly laid out a content driven strategy and acted to make it happen by divesting radio and acquiring Pixar (PIXR). Second, all of DIS’s divisions will be growing […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2006-03-10 11:41:052006-03-10 11:41:05Pixar’s Earnings Give Disney A Boost
One impact on the on the cable companies of the AT&T (T) – BellSouth (BLS) merger that I did mention in my previous post was wireless telephony. As has been widely discussed, one of the driving forces behind the T-BLS merger is the consolidation of Cingular wireless with T and the rebranding of the service […]
As a follow-up to my earnings coverage of Central European Media Enterprises (CETV), I wanted to mention that my spreadsheet now assumes 20% segment level EBITDA growth for 2006 to $237 million. EPS, using a very non-GAAP formula comes out at $2.20. For 2007, I think 15% EBITDA growth is easily achievable, with EPS potentially […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2006-03-08 14:03:592006-03-08 14:03:59Central European Media Enterprises: Final Thoughts on 4Q05
Some observations and thoughts related to cable and media on the AT&T (T) – BellSouth (BLS) merger after reading through all the stuff that my email inbox: • I’ve been bullish on Comcast (CMCSA/K) using a thesis that the shares had room to rise as long as the window remained open for a year or […]
Central European Media Enterprises (CETV) reported better than expected operating results for 4Q05. Segment revenue of $173 million slightly exceeded management guidance of $171 million. Analyst estimates were generally in line with guidance. EBITDA of $70 million easily exceeded guidance of $58 million. Analyst estimates for EBITDA were slightly above guidance but still under $60 […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2006-03-02 14:44:442006-03-02 14:44:44Central European Media Enterprises: Great Quarter and Increased Confidence in Growth Outlook
Cablevision (CVC) shares are up sharply after the company reported better than expected 4Q05 results and announced 2006 guidance for its cable division that is above current analyst estimates. As the conference call begins, CVC shares are up 5% and dragging Comcast (CMCSA/K), up over 1% along for the ride. Wall Street may hate cable […]
There were no changes to Northlake’s Market Cap or style models for March. Client portfolios remain long mid caps and value, which I execute using the exchange trade funds representing the S&P 400 Mid Cap (MDY), the Russell 1000 Value (IWD), and the Russell 2000 Value (IWN). Clients continue to own $3 in IWD for […]
Central European Media Enterprises (CETV) reports before the open on Thursday. I remain optimistic about the shares with the caveat that quarterly are quite volatile particularly on a country-by-country basis. If my forecast for 13% revenue growth and over 18% EBITDA growth in 2006 receives support from management, I think my target in the low […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2006-03-01 10:28:202006-03-01 10:28:20Central European Media Enterprises Earnings Preview
One week ahead of its March 2nd 4Q05 earnings report, Central European Media Enterprises (CETV) announced an increase in its ownership of its operations in Romania. In a negotiated agreement with its partner, CETV is paying $27.2 million for an additional 5% stake in Pro TV. CETV will now own 90% of Pro TV. The […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2006-02-27 08:44:052006-02-27 08:44:05Central European Media Enterprises Increases Stake in Romania at Attractive Price
The market has reacted coolly to the settlement between Time Warner (TWX) and Carl Icahn as TWX shares given up all their gains since the company reported earnings and the Icahn-Lazard report was released. I think the additional debt funding a larger share buyback is incrementally positive for TWX shares, especially if visibility for upper-single […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2006-02-27 08:33:252006-02-27 08:33:25Icahn and Time Warner Settle: Upside If TWX Can Sustain Growth
Pixar’s Earnings Give Disney A Boost
Disney (DIS) continues to act better than any other mega cap media stock. I think there are three reasons behind the good action. First, Bob Iger has clearly laid out a content driven strategy and acted to make it happen by divesting radio and acquiring Pixar (PIXR). Second, all of DIS’s divisions will be growing […]
Wireless Telephony, Cable, and the AT&T – BellSouth Merger
One impact on the on the cable companies of the AT&T (T) – BellSouth (BLS) merger that I did mention in my previous post was wireless telephony. As has been widely discussed, one of the driving forces behind the T-BLS merger is the consolidation of Cingular wireless with T and the rebranding of the service […]
Central European Media Enterprises: Final Thoughts on 4Q05
As a follow-up to my earnings coverage of Central European Media Enterprises (CETV), I wanted to mention that my spreadsheet now assumes 20% segment level EBITDA growth for 2006 to $237 million. EPS, using a very non-GAAP formula comes out at $2.20. For 2007, I think 15% EBITDA growth is easily achievable, with EPS potentially […]
Does the AT&T-BellSouth Merger Hurt Comcast?
Some observations and thoughts related to cable and media on the AT&T (T) – BellSouth (BLS) merger after reading through all the stuff that my email inbox: • I’ve been bullish on Comcast (CMCSA/K) using a thesis that the shares had room to rise as long as the window remained open for a year or […]
Central European Media Enterprises: Great Quarter and Increased Confidence in Growth Outlook
Central European Media Enterprises (CETV) reported better than expected operating results for 4Q05. Segment revenue of $173 million slightly exceeded management guidance of $171 million. Analyst estimates were generally in line with guidance. EBITDA of $70 million easily exceeded guidance of $58 million. Analyst estimates for EBITDA were slightly above guidance but still under $60 […]
Strong Quarter At Cablevision Could Boost Cable Stocks
Cablevision (CVC) shares are up sharply after the company reported better than expected 4Q05 results and announced 2006 guidance for its cable division that is above current analyst estimates. As the conference call begins, CVC shares are up 5% and dragging Comcast (CMCSA/K), up over 1% along for the ride. Wall Street may hate cable […]
March 2006 Model Signals
There were no changes to Northlake’s Market Cap or style models for March. Client portfolios remain long mid caps and value, which I execute using the exchange trade funds representing the S&P 400 Mid Cap (MDY), the Russell 1000 Value (IWD), and the Russell 2000 Value (IWN). Clients continue to own $3 in IWD for […]
Central European Media Enterprises Earnings Preview
Central European Media Enterprises (CETV) reports before the open on Thursday. I remain optimistic about the shares with the caveat that quarterly are quite volatile particularly on a country-by-country basis. If my forecast for 13% revenue growth and over 18% EBITDA growth in 2006 receives support from management, I think my target in the low […]
Central European Media Enterprises Increases Stake in Romania at Attractive Price
One week ahead of its March 2nd 4Q05 earnings report, Central European Media Enterprises (CETV) announced an increase in its ownership of its operations in Romania. In a negotiated agreement with its partner, CETV is paying $27.2 million for an additional 5% stake in Pro TV. CETV will now own 90% of Pro TV. The […]
Icahn and Time Warner Settle: Upside If TWX Can Sustain Growth
The market has reacted coolly to the settlement between Time Warner (TWX) and Carl Icahn as TWX shares given up all their gains since the company reported earnings and the Icahn-Lazard report was released. I think the additional debt funding a larger share buyback is incrementally positive for TWX shares, especially if visibility for upper-single […]