Discovery: Advertising Impact Minimal, Buy The News [Seeking Alpha]
Discovery, Inc. - Series A (DISCA)
Last discovery, inc. - series a earnings: 2/27 07:00 am
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US:NASDAQ Investor Relations:
corporate.discovery.com/contact/investor-relations
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Source: Seeking Alpha
Investment thesis The CEO of Discovery, Inc. ( DISCA ) ( DISCB ) ( DISCK ), David Zaslav, spoke at the UBS 46th annual UBS Global Media and Communications Conference in New York on December 3rd 2018. Among the many positives he shared such as the higher than expected cost synergies with Scripps, faster deleverage and possible deals with the FAANGS, he also revealed that advertising revenue is likely to grow at 2-3% instead of 3-5% in the fourth quarter due to a hiccup in TV ratings in nineteen channels. The market chose to focus on the negative and sold off its shares at $25 from $31, twice steeper than the broad market. Since our first report on Discovery, the investment case has not changed; the stock is just 20% cheaper. We took the opportunity to add to our position, making it a medium-sized portion in our portfolio. For new readers, please go through the first article here for more details, and refer to the conference webcast here . Initial thesis – Not
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