ESPN Layoffs

[Ralonzo]

 

Layoffs? You kidding me?

[chongli]

1 hour ago, Ralonzo said:

 

Layoffs? You kidding me?

 

Yep...good one! Every tam I see the thread title, I think it's a typo for "playoffs".

[thronethinker]

On 6/30/2023 at 1:59 PM, Einstein said:

 

Correct.

 

But the other side of the coin is networks can no longer demand the fees from cable/satellite providers that they need to float. Cable/satellite is hemorrhaging from people moving to internet based media.

I work for a major cable company and we are posting record profits. The thought about cable companies “Hemorraging”” customers is ridiculous. Cable companies money makers are data because it is nearly all profit after the cost of maintains the infrastructure. Cable companies are not losing data subscribers. The Other real money maker for some cable companies is now cellular, it is a cash cow. 

 

Cable companies are happy to see video go because the cost of equipment and video rebroadcast agreements are astronomical for the cable company too. 

[Einstein]

16 minutes ago, thronethinker said:

I work for a major cable company and we are posting record profits. The thought about cable companies “Hemorraging”” customers is ridiculous.

 

Cable as we know it now won’t even exist in 10 years.

 

https://www.yahoo.com/entertainment/cable-tv-dying-industry-only-211216126.html

 

https://www.hollywoodreporter.com/business/business-news/cord-cutting-2022-cable-pay-subscriber-losses-1235340253/amp/

 

https://www.mediaplaynews.com/charter-loses-241000-q1-spectrum-tv-subscribers-ends-quarter-with-less-than-15-million-subs/

 

Your profits are from Internet service. Which consumers need to stream the media they have replaced cable with.

 

Cable = / = Internet in my mind. But if it does in yours, that may be the disconnect. Since we are talking about ESPN - a television channel - I thought that was obvious. Cable TV will disappear but their internet service will remain.

 

.

Edited July 2, 2023 by Einstein

[thronethinker]

2 minutes ago, Einstein said:

 

Your company is lying to you. Cable as we know it now won’t even exist in 10 years.

 

https://www.yahoo.com/entertainment/cable-tv-dying-industry-only-211216126.html

 

https://www.hollywoodreporter.com/business/business-news/cord-cutting-2022-cable-pay-subscriber-losses-1235340253/amp/

 

https://www.mediaplaynews.com/charter-loses-241000-q1-spectrum-tv-subscribers-ends-quarter-with-less-than-15-million-subs/

Losing VIDEO subscribers, not data subscribers. They are still there as a subscriber, just on a service with much higher profit margins than video. 

[Einstein]

1 minute ago, thronethinker said:

Losing VIDEO subscribers, not data subscribers. They are still there as a subscriber, just on a service with much higher profit margins than video. 

No one ever mentioned data or internet. You made that up.

 

Since we are talking about ESPN - a television channel - I thought that was obvious. Cable TV will disappear but their internet service will remain. I think we all know the internet is not going anywhere 😂

 

Your profits are from Internet service. Which consumers need to stream the media they have replaced cable with.

 

[thronethinker]

2 minutes ago, Einstein said:

No one ever mentioned data or internet. You made that up.

 

Since we are talking about ESPN - a television channel - I thought that was obvious. Cable TV will disappear but their internet service will remain. I think we all know the internet is not going anywhere 😂

 

Your profits are from Internet service. Which consumers need to stream the media they have replaced cable with.

 

That was my point about cable companies. They are not losing sleep over video subscribers going away. At least not cable companies that offer DATA services.  A company like DIRECTV is going to be gone in 10 years.

[Einstein]

11 minutes ago, thronethinker said:

That was my point about cable companies. They are not losing sleep over video subscribers going away. At least not cable companies that offer DATA services.  A company like DIRECTV is going to be gone in 10 years.

 

So back to my original point.

Because cable companies are hemorrhaging video customers, it no longer makes sense to pay networks (like ESPN) increasing subscriber fees, when there are less and less people paying for the video in the first place.

 

Correct?

[maddenboy]

On 6/30/2023 at 11:28 AM, Mike in Horseheads said:

Kellerman used to be good on HBO boxing

yeah.   he was supposed to be the heir-apparent to Jim Lampley / larry merchant.  As the next big boxing commentator

 

https://bleacherreport.com/articles/2210468-ranking-the-best-commentators-in-boxing-today

 

That ranking is from 2014.

 

I'm guessing that with the decline in boxing and the surge in UFC type fighting, Kellerman struggled to find another niche.   And failed.

 

I did enjoy him on morning radio with Marcellus Wiley here in L.A. a few years ago.   He was smart and Marcellus was gregarious and smart and drunk (self-admittedly, on the air.  "I think when I drink" and "you know me.  I gotta stay hydrated")

 

Edited July 2, 2023 by maddenboy

[Augie]

PROGRAMING ALERT: ESPN2 is showing archived footage from Nathan’s Famous Hot Dog Eating Contest! Currently showing 2018. With that kind of programing gold, they will probably need to hire these people back pronto! 

[Mr. WEO]

18 hours ago, Einstein said:

 

No. Disney will likely purchase the remainder of Hulu. Not sell it. Unless they purchase Netflix, in which case they will likely be forced to sell Hulu to avoid a monopoly.

 

Disney is already the largest streaming entity in the world, and will only strengthen that hold over the next decade.

Netflix has a market cap that is 30 billion more than the entirety of Disney.  But they might “purchase Netflix”…

[The Wiz]

2 hours ago, Einstein said:

No one ever mentioned data or internet. You made that up.

 

Since we are talking about ESPN - a television channel - I thought that was obvious. Cable TV will disappear but their internet service will remain. I think we all know the internet is not going anywhere 😂

 

Your profits are from Internet service. Which consumers need to stream the media they have replaced cable with.

 

 

[Punching Bag]

I wonder how many of the people fired by ESPN will get jobs on NFL Network replacing "personalities"?

[Einstein]

51 minutes ago, Mr. WEO said:

Netflix has a market cap that is 30 billion more than the entirety of Disney.  But they might “purchase Netflix”…

 

Yes. And also yes.

 

- Disney's revenue was $83 Billion in 2022. Netflix revenue was $32 Billion. Disney's revenue is almost 3x Netflix.

- Disney's profit was $28 Billion in 2022. Netflix profit was $4.4 Billion. Disney's profit is more than 6x Netflix.

- Disney's balance sheet shows $202 Billion in assets in 2022. Netflix shows $48 Billion in assets in 2022. Disney has nearly 4x more assets than Netflix.

 

Disney is much larger than Netflix, and has billions more in cash-on-hand, and real estate, and assets than Netflix. Market cap is simply the sum of a companies value in it's shares of stock. It is driven by wall-street, not the actual size of the company. It's formed by speculative bubbles. For example, Tesla had a market cap over $1 TRILLION in 2020. And then the market cap dropped to $400B in 2021. Did the company split in half? No. Did their revenue drop to half of what it was? No. It's value on wall-street simply fell. But thank you for laugh (I literally chuckled). Another example: NVIDIA has a market cap of $1 Trillion, yet TSMC has a market cap of $480B. TSMC has 3x the number of employees and 3x the revenue. They are a much bigger company yet half of the market cap. 

 

Netflix pales in comparison to Disney's size. Just like your knowledge in this sector pales in comparison to mine. Your ignorance is showing.

 

.

 

Edited July 2, 2023 by Einstein

[RiotAct]

quick, everyone whip out their 2022 tax returns!

[Einstein]

26 minutes ago, RiotAct said:

quick, everyone whip out their 2022 tax returns!

 

If they've already filed theirs, I think we know what tax bracket they're probably in  

[WotAGuy]

47 minutes ago, Einstein said:

 

If they've already filed theirs, I think we know what tax bracket they're probably in  

If only @Einsteinwere this lucid during their football threads. 

[djp14150]

4 hours ago, Einstein said:

 

Cable as we know it now won’t even exist in 10 years.

 

https://www.yahoo.com/entertainment/cable-tv-dying-industry-only-211216126.html

 

https://www.hollywoodreporter.com/business/business-news/cord-cutting-2022-cable-pay-subscriber-losses-1235340253/amp/

 

https://www.mediaplaynews.com/charter-loses-241000-q1-spectrum-tv-subscribers-ends-quarter-with-less-than-15-million-subs/

 

Your profits are from Internet service. Which consumers need to stream the media they have replaced cable with.

 

Cable = / = Internet in my mind. But if it does in yours, that may be the disconnect. Since we are talking about ESPN - a television channel - I thought that was obvious. Cable TV will disappear but their internet service will remain.

 

.

 

rxcept cable isn’t going to die.

 

With streaming services raising fees it becomes a thing of what is the cheapest option.

 

you have the same issues with streaming as with cable where you have to pay for the full family of stations, not just the one or two you want.

 

 

[Augie]

35 minutes ago, WotAGuy said:

If only @Einsteinwere this lucid during their football threads. 

 

If I were to argue his point there, it could come off as sounding snooty or delusional. I’m not sure if he can sniff snooty, but it might sound almost like “I have $5.3 million in Disney stock alone”. 

 

 

….so there’s that.   🤷‍♂️

 

 

.

Edited July 2, 2023 by Augie

[Einstein]

52 minutes ago, WotAGuy said:

If only @Einsteinwere this lucid during their football threads. 

 

We all have our talents and downfalls  

[Mr. WEO]

20 hours ago, Einstein said:

 

Yes. And also yes.

 

- Disney's revenue was $83 Billion in 2022. Netflix revenue was $32 Billion. Disney's revenue is almost 3x Netflix.

- Disney's profit was $28 Billion in 2022. Netflix profit was $4.4 Billion. Disney's profit is more than 6x Netflix.

- Disney's balance sheet shows $202 Billion in assets in 2022. Netflix shows $48 Billion in assets in 2022. Disney has nearly 4x more assets than Netflix.

 

Disney is much larger than Netflix, and has billions more in cash-on-hand, and real estate, and assets than Netflix. Market cap is simply the sum of a companies value in it's shares of stock. It is driven by wall-street, not the actual size of the company. It's formed by speculative bubbles. For example, Tesla had a market cap over $1 TRILLION in 2020. And then the market cap dropped to $400B in 2021. Did the company split in half? No. Did their revenue drop to half of what it was? No. It's value on wall-street simply fell. But thank you for laugh (I literally chuckled). Another example: NVIDIA has a market cap of $1 Trillion, yet TSMC has a market cap of $480B. TSMC has 3x the number of employees and 3x the revenue. They are a much bigger company yet half of the market cap. 

 

Netflix pales in comparison to Disney's size. Just like your knowledge in this sector pales in comparison to mine. Your ignorance is showing.

 

.

 

 

 

The topic is the ability of one company to purchase another.  It's not about how man employees or how many assets Disney has, unless they were to be sold to purchase Netflix. 

 

Yes the cap is the sum of current price but what offer could Disney make that Netflix holders would accept?  Where does Disney, a company the just fired 7000 employees to save cash and is letting go very high profile talent/brands from one of their flagship lines in order to scrape a few more pennies into the till, get the cash to buy out the biggest streamer in the market---at a time when streamer is undergoing a seismic correction due to low (or, in Disney's case less than zero) profitability?

 

Netflix's current profits would barely cover Disney's current streaming losses.  Who would vote for this? oh....

 

 

[Einstein]

57 minutes ago, Mr. WEO said:

The topic is the ability of one company to purchase another.

 

Yes, and Disney could buy Netflix.

 

57 minutes ago, Mr. WEO said:

It's not about how man employees or how many assets Disney has, unless they were to be sold to purchase Netflix. 

 

lol that is not how it works. I don't understand why you keep pontificating on processes that are not in your wheelhouse.

 

B2B acquisitions are not simply made in cash like you purchased your 2007 Chevy Malibu. They are made through debt and equity financing. Either in whole or in part (like how Disney purchased Hulu at a 70% stake).

 

Netflix is in a speculative bubble right now, which is the only reason their market cap is (artificially) inflated at the moment. Literally only 3 months ago their market cap was $130B (below Disney's). In 2021 it was as high as $300B. Again, it's wall street. Not the size of the company. 

 

57 minutes ago, Mr. WEO said:

Yes the cap is the sum of current price but what offer could Disney make that Netflix holders would accept?  Where does Disney, a company the just fired 7000 employees to save cash... Netflix's current profits would barely cover Disney's current streaming losses.  Who would vote for this? oh....

 

Much of this is a misrepresentation of the facts. Disney is not hurting for cashing or attempting to scrape pennies into the till. Again, they profited nearly $30 BILLION last year. Which is 6x what Netflix profited. Why would Netflix stock holders want to be purchased by a company that profits 6x more than they do? Is that a serious question?

[Mr. WEO]

Disney’s quarterly net income past 4 Qs is under 6 billion.  Did Bob Iger tell you it was 30 billion in the same shareholders meeting where he told you Disney+ will be profitable next year and the might buy Netflix?

 

And Netflix is on a price bubble right now? You might want to trace their price history the past 2 years and rephrase that.

 

But since you’re stuck on this, what combo of cash, stock swap and debt assumption would get a deal like that done? Use the acquisition of 21st Fox to help you.  And show your math

[4th&long]

On 6/30/2023 at 6:24 PM, Buffalo619 said:

It has nothing to do with politics and everything to do with protecting children. The US has had enough of these companies and their conditioning. People are still watching tv, just not any Disney affiliated ones. 

Worst crock of ***** take I have read on here!

[Augie]

25 minutes ago, Mr. WEO said:

Disney’s quarterly net income past 4 Qs is under 6 billion.  Did Bob Iger tell you it was 30 billion in the same shareholders meeting where he told you Disney+ will be profitable next year and the might buy Netflix?

 

And Netflix is on a price bubble right now? You might want to trace their price history the past 2 years and rephrase that.

 

But since you’re stuck on this, what combo of cash, stock swap and debt assumption would get a deal like that done? Use the acquisition of 21st Fox to help you.  And show your math

 

Oh no! Is there going to be more math? 😱

 

I think I’ve had enough math already. 

[Mike in Horseheads]

22 minutes ago, Augie said:

 

Oh no! Is there going to be more math? 😱

 

I think I’ve had enough math already. 

Don't ya enjoy other peoples tax returns?

[Augie]

8 minutes ago, Mike in Horseheads said:

Don't ya enjoy other peoples tax returns?

 

I don’t know why, but this made me think of my banking days years ago when people would ask “Which set of books do you want to see?”  😂 

[Mike in Horseheads]

2 minutes ago, Augie said:

 

I don’t know why, but this made me think of my banking days years ago when people would ask “Which set of books do you want to see?”  😂 

LMAO... yes sounds like no risk there

[Augie]

16 minutes ago, Mike in Horseheads said:

LMAO... yes sounds like no risk there

 

Let us just say, there are better ways to start a relationship.  

[Einstein]

1 hour ago, Augie said:

 

Oh no! Is there going to be more math? 😱

 

I think I’ve had enough math already. 

 

Don't worry, I won't bother with the extremely simple math he needs done. I always know when a poster is beginning to flail when they don't even quote me anymore. They want to get the last word in, without me seeing it.

 

PS...

 

On 7/1/2023 at 6:45 PM, Augie said:

 

Screen shot???    

 

 

😋

 

https://streamable.com/e62m91

 

.

Edited July 3, 2023 by Einstein

[Punching Bag]

42 minutes ago, Augie said:

 

I don’t know why, but this made me think of my banking days years ago when people would ask “Which set of books do you want to see?”  😂 

 

Yea I worked on IRS Agent Investigation Platform and there were things flagged to signify to do manual check of business also getting books for flagged suppliers. They almost always ended up resulting in investigated company with double books with typical excuse "we changed bookkeeping method or accountant/accountant firm",

[Mr. WEO]

2 hours ago, Augie said:

 

Oh no! Is there going to be more math? 😱

 

I think I’ve had enough math already. 

Don’t make me show you my Stop and Shop receipts!!

[RyanC883]

7 hours ago, Einstein said:

 

Yes, and Disney could buy Netflix.

 

 

lol that is not how it works. I don't understand why you keep pontificating on processes that are not in your wheelhouse.

 

B2B acquisitions are not simply made in cash like you purchased your 2007 Chevy Malibu. They are made through debt and equity financing. Either in whole or in part (like how Disney purchased Hulu at a 70% stake).

 

Netflix is in a speculative bubble right now, which is the only reason their market cap is (artificially) inflated at the moment. Literally only 3 months ago their market cap was $130B (below Disney's). In 2021 it was as high as $300B. Again, it's wall street. Not the size of the company. 

 

 

Much of this is a misrepresentation of the facts. Disney is not hurting for cashing or attempting to scrape pennies into the till. Again, they profited nearly $30 BILLION last year. Which is 6x what Netflix profited. Why would Netflix stock holders want to be purchased by a company that profits 6x more than they do? Is that a serious question?

 

While Disney may be able to purchase Netflix, I have a hard time envisioning a Disney acquisition passing antitrust review since it also owns Hulu.  

[Einstein]

20 minutes ago, RyanC883 said:

 

While Disney may be able to purchase Netflix, I have a hard time envisioning a Disney acquisition passing antitrust review since it also owns Hulu.  

 

You’re right. They would have to sell Hulu.

[4merper4mer]

On 7/2/2023 at 1:23 PM, Einstein said:

 

Yes. And also yes.

 

- Disney's revenue was $83 Billion in 2022. Netflix revenue was $32 Billion. Disney's revenue is almost 3x Netflix.

- Disney's profit was $28 Billion in 2022. Netflix profit was $4.4 Billion. Disney's profit is more than 6x Netflix.

- Disney's balance sheet shows $202 Billion in assets in 2022. Netflix shows $48 Billion in assets in 2022. Disney has nearly 4x more assets than Netflix.

 

Disney is much larger than Netflix, and has billions more in cash-on-hand, and real estate, and assets than Netflix. Market cap is simply the sum of a companies value in it's shares of stock. It is driven by wall-street, not the actual size of the company. It's formed by speculative bubbles. For example, Tesla had a market cap over $1 TRILLION in 2020. And then the market cap dropped to $400B in 2021. Did the company split in half? No. Did their revenue drop to half of what it was? No. It's value on wall-street simply fell. But thank you for laugh (I literally chuckled). Another example: NVIDIA has a market cap of $1 Trillion, yet TSMC has a market cap of $480B. TSMC has 3x the number of employees and 3x the revenue. They are a much bigger company yet half of the market cap. 

 

Netflix pales in comparison to Disney's size. Just like your knowledge in this sector pales in comparison to mine. Your ignorance is showing.

 

.

 

Excluding a scenario where Netflix stock price crashes pre-acquisition, can you explain how Disney would acquire Netflix and pay a traditional premium to Netflix shareholders?

 

Can you cite some recent examples of large cap mergers where the acquisition target had a larger market cap than the buyer?