Comcast Reactions --- BCS Under Fire --- DVD Woes
• Analyze This: At presstime, no Avatar for News Corp as profit drops about a quarter; details in The Morning BRIDGE. --- Liberty Global reports after the Bell today ... and Citi’s Jason Bazinet expects revenue growth of just under 5% and OCF margins of about 45% on expected revenue of about $2.45B. Of note, Mike Fries will join the Cable TV Pioneers in Chicago next month. --- Alaska's GCI reported 1Q11 revenues up y/y from $152.4M to $164.8M; of note, the TERRA project is on schedule. --- Charter is issuing $1.5B in 10-year notes. --- Chiming in on Comcast after this morning's call: Bernstein Research’s Craig Moffett writes, “Unfortunately, the predictable focus on NBCU will obscure a very strong quarterly result for the cable business. Too bad. Because hiding in plain sight is a very strong core business. And Cable is, after all, ~87% of Comcast's proportionate revenue.” Citadel’s Vijay Jayant agrees noting, “Cable inline, NBCU not a clean comparison.” Collins Stewart’s Tom Eagan cites “lowest basic sub loss in years” and has a ‘buy with a $32/share target. Citi’s Jason Bazinet cited the ARPU of $132.91 - +8.1%. And, Brian Roberts is “delighted.” --- Time Warner, coming off so-so films like Red Riding Hood and Hall Pass, posted a mixed 1Q11 with net earnings down 10% to $653M. BB rights cost and lousy movies hurt a bit. Meanwhile, Warner Bros. is buying the parent of movie reviewer Rotten Tomatos’ parent Flixster. --- Sinclair reported diluted 1Q11 19¢/eps and declared a 12¢ quarterly dividend on a +5.4% revenue gain. --- Boingo Wireless raised $77.9M in its IPO selling 5.8M shares @ $13.50 each. --- Netflix’ Reed Hastings: “Compete with cable? Who, me?”
• Sports: The NCAA got a letter today from the Dept. of Justice opening an antitrust inquiry into the Bowl Championship Series system.
• Rules & Regs: Rep. Anna Eshoo (D-CA) has introduced a bill that would require a conduit be installed as any Federal highway is built ... the conduit is for fiber optic cables.
• Tech: Glasses-free 3D TVs? Maybe in 10 years reports SNL Kagan’ Sarah Barry James from Digital Hollywood. So far, they’re just a parlor trick for trade shows.
• Online: DISH will ‘air’ Pacquiao-Mosley PPV boxing match live online this Saturday ... via DISH satellite, too ... and via replay online for a day.
• Retail: BTIG’s Rich Greenfield says “DVD biz [is] so troubled, Warner Bros. offers 67% discount on Groupon for Mother’s Day - Consumers unexcited.”
• Advertising/Marketing: “The 4A’s and BlackArrow announced 4 new partners – ABC, NBCU, CTAM and Intel – have joined the Advanced Advertising Media Project (AAMP).
• Measurements & Ratings: Parks Assoc. says ‘TV everywhere’ really will be so by the end of this year.
• Programming: RLTV will air the Mrs. America pageant on Mother’s Day @8pm EDT.
• Up, Over & Down There: BBC says News Corp and Exor really want Formula One. --- China’s RenRen IPO jumped 50% on opening to $21.
• Mobile: The major wireless carriers, AT&T, T-Mobile USA and Verizon are said, by CNET’s Marguerite Reardon, to be abandoning plans for their own mobile payment plans in favor of working with the credit card companies to create mobile wallets.
• More News in The Morning BRIDGE ... early tomorrow morning in your in-box.•