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Business

New ‘Walking Dead’ Spinoff In The Works, AMC Executives Confirm

A new spinoff of The Walking Dead is in the works, AMC Networks confirmed during its quarterly earnings call with Wall Street analysts. Asked to elaborate on CEO Josh Sapan’s mention of a third zombie outing, COO Ed Carroll said the spinoff is in “active development.” He declined to offer many more specifics, including whether it would fall under an existing distribution agreement with Hulu. “We’re not at a stage where we’ll be announcing its plans to premiere,” Carroll… Read

Business

AT&T CFO John Stephens Says WarnerMedia Culture Will Be Shielded From “A Finance Bean Counter From A Telephone Company”

AT&T

John Stephens, Senior EVP and CFO of AT&T, said Tuesday’s legal victory over the U.S. Department of Justice in a 16-month battle will free the combined company to take full advantage of synergies. At the same time, he said the parent company is taking pains to protect WarnerMedia from “a financial bean counter from a telephone company.” The executive delivered his remarks in a live-streamed appearance at Morgan Stanley’s Technology, Media and Telecom Conference in San… Read

Business

Sinclair Chief Coy About Fox Regional Sports Networks Amid Speculation: “We Like Our Positioning”

Sinclair Broadcast Group CEO Chris Ripley declined to offer many new details about the company’s pursuit of Fox’s high-profile portfolio of regional sports networks during the company’s fourth-quarter earnings call. But anyone listening could tell the company remains very much in the mix. In order to obtain regulatory approval for its acquisition of most of Fox, Disney has agreed to sell off the 22 RSNs, whose collective value is pegged at north of $15 billion. Fox… Read

Business

Sinclair Broadcast Group Q4 Results Cruise Past Wall Street Estimates

Sinclair Broadcasting

Sinclair Broadcast Group cruised past Wall Street estimates for the political advertising-rich fourth quarter. The company posted total revenue of $893.3 million, up more than 25% from the year-earlier quarter and better than the consensus outlook of analysts, which was a shade less than $880 million. Earnings per share came in at $2.10 on a diluted basis, which was less than half of the year-ago period’s $4.32 but a dime ahead of estimates. Sinclair blamed the profit… Read

Business

Imax Beats Q4 Estimates But Profit Slumps On Weaker Holiday Film Slate

Imax beat Wall Street estimates with its fourth-quarter total revenue, reaching just shy of $109 million, but a weaker film slate in the quarter compared with 2017 kept a lid on results. Total revenue slid 13% from the year-earlier quarter, to $109 million, while earnings per share of 26 cents fell from 34 cents. Both exceeded analysts’ forecasts. Gross box office from Imax films was $236.7 million in the quarter, down from $278.1 million in the 2017 period. The stronger… Read

Business

Nexstar Sets Q4 Revenue Record On Flurry Of Political Advertising Spending

Nexstar, which has grown from a single radio station 23 years ago into what will soon be the No. 1 owner of local TV stations in the U.S., reported record revenue of $798 million in the fourth quarter. Boosted by political ad spending, which was more than triple the level of the 2014 mid-term elections, total revenue rose 22% from the same period in 2017. Net income came in at $154.5 million for the period, or $3.34 a share, slightly below Wall Street estimates of $3.40 a… Read

Business

Cinemark MovieClub Reaches 560,000 Subscribers, Accounts For 10% Of Company Box Office

Cinemark

Cinemark's MovieClub subscription plan reached 560,000 active members by the end of 2018, up 26% from the end of the third quarter, the company revealed during its fourth-quarter earnings report. The major exhibition circuit posted record revenue and several encouraging top-line numbers for the quarter ending December 31. Earnings per share of 18 cents fell short of Wall Street estimates due to softness in Latin America and comparisons with a tax-gain-fueled 2017… Read

Business

Cinemark Posts Record Q4 Revenue, But Earnings Miss Wall Street Estimates

Major U.S. exhibitor Cinemark reported strong top-line results in the fourth quarter, with total revenue hitting a record $798.6 million, up 6.5% from the same period in the previous year. Earnings came in at 17 cents a share on a diluted basis, falling short of Wall Street’s consensus estimate of 44 cents. In the same period of 2017, earnings were 82 cents a share, with federal tax reform creating a $45 million benefit. Investors greeted the results with enthusiasm… Read

Business

Roku Thumps Wall Street’s Q4 Estimates As Revenue And User Total Post Big Gains

Roku continued its recent momentum by reporting fourth-quarter results that beat Wall Street expectations and validated its recent strategic shifts. Earnings per share came in at 5 cents, which was a dip from 6 cents in the year-earlier quarter, but well ahead of analysts’ consensus forecast for 3 cents. Total revenue climbed 46% to $275.7 million, exceeding the consensus estimate of $262.1 million. Average revenue per user for all of 2018, on a trailing 12-month basis… Read

Business

CBS Q4 Earnings Undershoot Wall Street Estimates Due To Entertainment Dip

CBS Corp

CBS Corp. reported fourth-quarter earnings that fell short of Wall Street analysts’ expectations, largely due to a dip in its Entertainment unit caused by timing of international licensing deals and tough comparisons with domestic sales in the year-ago quarter. Revenue came in at $4 billion, up 3% from the same quarter in 2017, but below the consensus estimate of $4.19 billion. Diluted earnings per share from continuing operations totaled $1.49 and $1.50 on an adjusted… Read

Business

Univision Posts Soft Q4 Results, But CEO Vince Sadusky Upbeat About Dish Truce: “It’s Down To A Matter Of Value”

Univision swung to a loss in the fourth quarter, blaming a downturn in revenue in part on a months-long carriage dispute with Dish, but CEO Vince Sadusky expressed guarded optimism about a resolution to the impasse during a conference call with analysts. Univision posted an operating loss of $40.2 million, compared with income of $390 million in the year-earlier quarter. Total revenue decreased 8.9% to $688.5 million from $755.5 million. With a massive executive turnover… Read

Business

Cinedigm Results Continue Upswing In Q3 As Company Pivots To Streaming

Continuing its long-term pivot away from cinema equipment and toward streaming, Cinedigm posted third-quarter results showing several encouraging signs, even if some red ink continues to flow. Total revenue of $14.6 million fell 21% from the year-ago quarter, largely due to a 37% slide in the company’s legacy equipment business. The net loss in the period came to $2.7 million, a 44% improvement over losses in the same quarter of 2017. Adjusted EBITDA came in at minus-$3.3… Read