TWX: We Expect a Deal - Upgrading to Buy -- Pivotal Research

VALUATION. We value TWX based on the valuation embedded in AT&T's proposed acquisition.

RISKS to Time Warner include those around the closing of the sale to AT&T. At an operating level, risks include the hit-driven nature of television programming, perceptions around the "death" of TV advertising and risks around slow-downs in the pay TV business.

FULL REPORT INCLUDING RISKS AND DISCLOSURES CAN BE FOUND HERE: TWX 11-13-17.pdf

The opinions and points of view expressed in this content are exclusively the views of the author and/or subject(s) and do not necessarily represent the views of MediaVillage.com/MyersBizNet, Inc. management or associated writers.

 

 

Brian Wieser

Brian Wieser is a Senior Analyst at Pivotal Research Group, where he covers securities which are impacted by the advertising economy, including Facebook, Google, Yahoo, Interpublic, Omnicom, WPP, Publicis, Nielsen, CBS, Viacom and Discovery Communications.... read more