3 Media Stocks in Focus: Fox Copes with Phone Hacking, the NFL Could Help Time Warner, and Viacom-Sony Deal Could Spark Costs
21st Century Fox (NYSE:FOXA): Fox is shielding itself from the phone-hacking scandal that has rocked News Corp. (NASDAQ:NWS) The company set aside $150 million to cover costs associated with the scandal and has acknowledged that it paid out $40 million in costs associated with the issue to date. At the end of the first quarter, News Corp.’s costs were just shy of $390 million.
Time Warner Corp. (NYSE:TWC): The NFL, being the cash cow that it is, could be just what doctor ordered in order to solve an ongoing dispute between Time Warner and CBS (NYSE:CBS). According to Bloomberg, digital rights content is as equally pressing a concern as are retransmission fees as the two media giants seek to settle their brawl.
Viacom (NYSE:VIA): Craig Moffett, an independent analyst, told Deadline that a deal between Viacom and Sony (NYSE:SNE) could lead to increased streaming prices. Moffett said to the publication, “This isn’t just a side show, this is THE central issue defining the value of the cable industry going forward.” Moffett’s musings follow a deal between the two companies whereby Viacom has allowed Sony to stream some of its channels.