3 Media Stocks in Focus: Comcast’s Ratings Deadline, News Corp.’s CFO Bids Adieu, and Coinstar’s Spin-Off Potential
Comcast (NASDAQ:CMCSA): NBC Entertainment President Jennifer Salke has said that management at the broadcaster has two years to turn the network around, and pull its ratings out of the gutter. New shows on the network will be promoted on The Voice but will then need to stand on their own, she pointed out.
News Corp. (NASDAQ:NWSA): Shares are sliding slightly on the news released on Thursday that CFO David DeVoe, a veteran of 23 years of News Corp., will be stepping down. DeVoe will remain on the media giant’s board, and serve as a “senior advisor.” His successor, deputy CFO John Nallen, will oversee Fox’s finance functions after News Corp.’s company split.
Coinstar (NASDAQ:CSTR): Piper Jaffray, saying its sum of the parts analysis indicates the stock is undervalued, has raised its price target from $65 to $75, as it sees the sale of Coinstar’s Coin business as a potential path for the company. It keeps an Overweight rating on the shares.