3 Media Stocks in Focus: Disney’s ESPN Set to Hike Prices, Dreamworks Crushes Earnings Estimates, and Cablevision Snags New Users
Walt Disney Corporation (NYSE:DIS): Walt Disney is set to hike prices, which are already the highest in the industry, as well as maintain opposition to a proposed idea in Congress that would force cable providers to offer a la carte channel selections as a part of reforming how the cable industry is currently structured. Prices are expected to rise from a carriage fee of $5.54 per subscriber, to as high as $7.
Dreamworks Animation (NASDAQ:DWA): Dreamworks has reported EPS of $0.26, beating estimates by $0.08, with revenue of $213.4 million, beat by $32.55 million, and up 31 percent. The Croods “incredibly successful box office run” brought in $71.8 million alone in revenue for the period, as Dreamworks has ”a great deal of momentum within [the] television, consumer products, and location-based entertainment businesses,” said CEO Jeffrey Katzenberg, pushing for diversification.
Cablevision Systems Corporation (NYSE:CVC): Cablevision shares are up over 5 percent, after the company reported EPS of $0.11, beating by $0.07, and revenue of $1.57 billion, which missed by $0.01. Net revenues for cable increased 0.9 percent to $1.402 billion, largely attributed to continued growth of data and voice customers, and higher data rates partially offset by lower video revenues and a decrease in advertising revenues.