Cable, Film Should Drive News In 2007.(Merrill Lynch media analyst Jessica Reif Cohen's report)
Multichannel News, February, 2007
By Staff Merrill Lynch media analyst Jessica Reif Cohen restated her "buy" rating on News Corp., citing strong growth at its movie studios that will offset fiscal second-quarter weakness in its broadcast television business. In her report, Reif Cohen lowered her second-quarter growth estimate for earnings before interest and taxes (EBIT) to 22% from her previous projections of 31% and reduced her earnings per share estimate to 25 cents per share from 26 cents.
The revision was made mainly because of what she expects to be poor performance at its MyNetworkTV and Fox broadcast networks and its StarTV international satellite networks. Reif Cohen left her full-year growth estimates for News Corp. unchanged -- revenue growth of 8% and operating...
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