3 Media Stocks in Focus: Netflix Breaks Free With ‘Orange,’ CBS Sells Off Ad Unit, and Time Warner Cable Brings Wi-Fi to NYC Parks
Netflix (NASDAQ:NFLX): Orange is the New Black is proving to be popular, as indicated by early feedback, offering Netflix shares further gains as Wall Street digests how the lack of a Hulu sale will benefit the video streaming service. ”Netflix seems to be segueing to a new phase of its operation — where subscribers can just come to expect, on a semi-regular basis, the launch of new great shows,” says PaidContent’s Liz Shannon Miller, likening Netflix to HBO.
CBS (NYSE:CBS): CBS will be selling off its international outdoor advertising unit — CBS Outdoor International — to the private equity firm Platinum Equity for $225 million, following an announcement in January in which the company stated that it plans to divest its European and Asian outdoor ad unit, and to convert its American unit into a REIT.
Time Warner Cable (NYSE:TWC): Time Warner Cable and Cablevision have partnered with New York City to help bring Wi-Fi connectivity to 32 parks across the city in addition to free services already provided in some locations. However, users must be Time Warner Cable broadband subscribers in order to receive free access.