NXST/TGNA: How will Trump’s New Posts and the WBD Battle Affect the De...

Recently, President Trump posted something the market perceived as negative news for the NXST/TGNA deal, sending both stocks down. We published a note in which we laid out why we believed that the risk to the deal has risen but still thought the odds favored approval. Some have challenged our view, and Trump subsequently directly criticized Nexstar’s news programming. In addition, the battle about WBD media consolidation have dominated headlines. In this note, we address how Trump’s most rece...

An Investor Framework for analyzing the WBD Battle: Phases and Scenari...

Investors are struggling to understand the antitrust and judicial process that will determine who will win WBD’s assets. We thought it would be helpful to frame the (at least three and up to six) phases of the process and the scenarios within each. In this note, we outline those phases and provide policy related guideposts to follow as the game plays out.

5 Things to Know in Investing This Week - The It Just Doesn’t Matter I...

Trump Helps/Hurts/Muddles PSKY Effort, Illustrating Ellison Antitrust ...

President Trump has said that the ownership of CNN must change, a potential sign that he is likely to instruct his DOJ to block the proposed NFLX purchase of WBD, as CNN is not part of the deal, while it would be part of a PSKY deal. In this quick note, we discuss how that comment illustrates the Ellison Antitrust Paradox we wrote about earlier this week.

The Ellison Antitrust Paradox: They Need Trump but Trump Card Could Ba...

PSKY has challenged the WBD board decision to accept the NFLX bid to buy WBD, arguing that WBD is “pursuing an inferior proposal” that would lead to “a challenging regulatory approval process.” In this note we quickly identify several problems with the Ellison approach that we have not seen reflected in the coverage this morning.

Update on WBD: What Trump Transaction Tax Could NFLX Pay?

Yesterday, multiple stories appeared on how the bidding for WBD by PSKY, NFLX and CMSCA is playing out, the biggest one—that WBD is now exclusively negotiating with NFLX—coming out late last night. In this note we update our thinking on the implications of the news and our sense where the game is headed.

As WBD Collects Bids, Has Anything Changed in Likely Government’s Appr...

Bids are due tomorrow for purchasing the WBD’s assets. In this note, we update our thoughts on the government’s likely reaction while also pointing out other market developments that may prove critical to investor thinking about what’s next.

WBD Drama Continues: What are Known Knowns?

The last several weeks have featured tons of analysis about potential bids for WBD. We think it dangerous to have conviction about who will bid what amount for what assets; the potential bids have many known unknowns. One, however, can have conviction about certain principles underlying the government review of the eventual proposed acquisition. In this note we address what we think investors should understand about that review, with some key points at odds with common perceptions.

Trump Administration Confirms Media Antitrust Policy (and It’s Not Abo...

The New York Post just ran a story headlined “Trump Admin Favors Paramount Skydance in Race to Buy Warner Bros. Discovery.” That conclusion is no surprise; it confirms our previous published analysis. It also, however, lays out new information about the Trump approach to reviewing deals, particularly involving media. In this note we analyze what the article signifies, including how it is an effort to lower bidding tension that will result in a “Trump Transaction Tax” on WBD shareholders, and h...

How Would the Government Review a Paramount/WBD Deal

Paramount is reportedly preparing to make an offer to buy WBD. In this note we provide preliminary thoughts on the government review process if Paramount and WBD reach an agreement.

InsiderInsights.com Daily Ratings Report: August 13, 2025

InsiderInsights Ratings of Companies with Open-Market Form 4 Purchases; Sales Filed at the SEC on the date above. We separate the real investment intelligence from the noise. Saving you time, and improving your research process

PSA Media & Entertainment: PSA's Rankings of Video Game Stocks After A...

This CY25 Q2 has been another tremendous quarter for the Japanese video game sector, driven by the release of the Switch 2. Analyst Pelham Smithers reviews the performance and offerings of the video game stocks PSA covers and delivers his updated rankings.

Vital Signs: Actionable charts

In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.

Video Games Industry Round-up

Pelham Smithers updates us on software and hardware sales and Steam rankings for the last week of FY24.

Vermilion Booster Shots: Attractive bottom-fishing stocks

For investors looking for bottom-fishing candidates; stocks that are breaking downtrends, exhibiting ascending reaction lows, and showing stabilizing relative strength.

Vermilion Booster Shots: Attractive bottom-fishing stocks

For investors looking for bottom-fishing candidates; stocks that are breaking downtrends, exhibiting ascending reaction lows, and showing stabilizing relative strength.

InsiderInsights Weekly Report: November 16, 2024

InsiderInsights Ratings of Companies with Open-Market Form 4 Purchases; Sales Filed at the SEC on the date above. We separate the real investment intelligence from the noise. Saving you time, and improving your research process

InsiderInsights.com Daily Ratings Report: November 12, 2024

InsiderInsights Ratings of Companies with Open-Market Form 4 Purchases; Sales Filed at the SEC on the date above. We separate the real investment intelligence from the noise. Saving you time, and improving your research process

NSR Policy: FCC Dings Nexstar for Exceeding Ownership Limits but Real ...

Last week, the FCC ruled that Nexstar’s relationship with Mission Broadcasting’s WPIX in New York City violated its rules and the national broadcast ownership cap. In this note, we discuss how this decision reflects the priorities of the current FCC, but also broader themes related to the decline of linear television and upcoming changes to both the market and the video regulatory environment.

Hardman & Co Insight: Streamed content takes over

The Great Correction of 2022 saw the share prices of streamers plunge after market leader Netflix reported a slowdown/fall in subscriber growth. Having formerly been seduced by hectic subscriber growth rates, investors quickly refocused, this time on fundamental metrics such as revenue, margins, profits and cashflow. Since then, streamers have continued to take a steadily greater share of viewing while linear TV continues to decline. But growth in streaming subscribers in the US and UK is now a ...