3 Media Stocks in Focus: Fox Sinks a Hole-in-One, Discovery’s ‘Shark Week’ Brings a Bite, and CBS Talks
21st Century Fox (NASDAQ:FOXA): Fox Sports has agreed to a 12-year deal to carry the U.S. Open golf tournament to on its main Fox network and Fox Sports 1, swiping the event from long-term holders NBC and ESPN. The final bidding for the rights to the Open at least doubled the $37 million that NBC and ESPN had paid previously, Seeking Alpha reports.
Discovery Communications (DSCA): With Shark Week swimming ahead strongly, the popular program — which launched with 4.8 million viewers — shows little signs of slowing. Discovery is on track to beat its 2012 Shark Week record of 21.4 million total viewers, making it the top rated cable network for people aged 18 to 34 during that time, Bloomberg points out.
CBS Corp (NYSE:CBS): Executives representing CBS and Time Warner Cable (NYSE:TWC) have reported that discussions between the companies have shot “badly off course,” as the blackout for Time Warner subscribers of CBS programming hits the week mark. The conclusion of the PGA Championship this weekend will be the highest-profile event blacked out to date, if the impasse continues until then, says Seeking Alpha.