'Comparisons to DirecTV are perhaps inevitable,' says Craig Moffett, but keeps his 'buy' rating on Comcast.
"Comparisons to DirecTV are perhaps inevitable," says Craig Moffett, but keeps his"buy" rating on Comcast.
Moffett started off by highlighting that "after a six-month bidding war with Disney that was roundly criticized by Comcast’s investors, Comcast sealed the deal for Sky in September 2018 for the princely sum of $48 billion , an astounding 16 times enterprise value to earnings before interest, taxes, depreciation and amortization multiple that represented a near tripling from the roughly six times multiple at which the shares had been trading just a year before.
Live sports have been canceled, the U.K. advertising market "utterly imploded," and pubs and clubs that have Sky subscriptions were shuttered amid the pandemic. Comcast CFO Michael Cavanagh during a recent investor conference acknowledged that "the macro climate in Europe is as challenged, if not more challenging, ... across Italy, U.K. and Germany" amid the pandemic.
Comcast management has always spoken of the Sky deal as providing strategic and financial benefits for the long-term. Executives have highlighted such benefits of owning Sky as the fact that its U.S. streaming service Peacock could leverage Sky know-how and technology, that Comcast has funded an increase in Sky's push into original content to turbo charge it, and NBCUniversal and Sky are planning to launch a global news service.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Get your first look at 'The Sky Blues,' a YA novel about living with prideRobbie Couch doesn't explore coming-out in 'The Sky Blues,' but rather takes his comfortably out hero on a different kind of teen journey.
Lire la suite »
Milky Way Photographer Of The Year: 25 Mesmerizing Images Of Our Night SkyLook deep into our galaxy’s center 25,000 light years distant.
Lire la suite »
Top analysts are betting on stocks like Mastercard and Nvidia right now into the second halfYour weekend brief: Top analysts are betting on stocks like Mastercard and Nvidia right now into the second half
Lire la suite »
Summer’s Very Best Drive-In Events: Concerts, Movies, Comedy And So Much MoreDrive-ins are our summer salvation in these times of social distancing.
Lire la suite »