Broadcast Stocks Decline (NWSA) (LMCA) (CBS)

June 12, 2013 3:41 PM EDT
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Price: $11.97 -0.58%

Rating Summary:
    19 Buy, 9 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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A number of Broadcast/entertainment stocks declined on Wednesday. Decliners included News Corp. (Nasdaq: NWSA), CBS Corporation (NYSE: CBS), and Liberty Media Corporation (Nasdaq: LMCA), among others. In comments this morning, Nomura's Michael Nathanson noted ratings declines.

"Using the latest STD ratings (L+7 except for the last two weeks which are Live+SD), Adult 18-49 primetime ratings are down 8% with a wide range of variability. FOX, due to the declines of big shows like American Idol and X-Factor, is down 23%. ABC is down 8%, CBS (which includes the 2013 Super Bowl and the AFC Championship Game in Primetime) is down 3%, and NBC (which is comping against the 2012 Super Bowl) is down 4%. Excluding the Super Bowl, obviously CBS would be down more and NBC would be close to flat. While the broadcast universe is down 8%, ad-supported cable networks have not gained share with ratings down 1% STD," said Nathanson.

In other entertainment news, Fox is said to have collected $1.75 billion in ad commitments vs $1.95 billion in the prior season, according to Bloomberg reports. Fox average prices were up 5-7% and it received commitments for 80% of season inventory.

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