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17	member 11/21/17 4:26PM Re: Re: Re: Re: DOJ Complaint 16
CBS and FOXA may not be great comps. And CBS is probably undervalued right now and if Fox is broken up and sold to another media company, the probability that TWX is broken up and... login to read the rest view available tags
15	member 11/21/17 3:08PM Re: Re: DOJ Complaint 14
1-Why do you think $75 is the downside risk on a break? 2-In your IRR-how long are you forecasting the litigation will last? T has stated that it will request expedited hearing. view available tags
13	member 11/21/17 10:38AM DOJ Complaint 12
https://www.scribd.com/document/364999548/DOJ-sues-to-stop-AT-T-Time-Warner-merger#fullscreen&from_embed This is a good read for anyone interested in the topic. The govt's main argument seems to be that T will have an incentive to charge rival distributors higher prices for its networks (HBO/Turner)--if the... login to read the rest 1 view available tags
12	member 11/15/17 3:54PM If the deal does not go through-will Jeff Bewkes 11
Have to break-up the company to maximize the value? Provided you believe that HBO and Warner are higher multiple businesses-and would be interesting to a range of strategic buyers that would not be interested in... login to read the rest 1 view available tags
11	member 11/09/17 11:35AM Probably have to buy TWX here 10
Either the deal goes through, or it falls apart and TWX moves to realize break-up value, which is probably over $100/share. Fox changed the environment by demonstrating a willingness to reposition the assets to maximize... login to read the rest 1 view available tags
10	member 11/08/17 10:47PM Re: Re: Re: Re: Re: Re: TWX/T deal 8
Funny how many conflicting press reports came out today. WSJ article is probably the most accurate. Bottom line is that AT&T is not willing to comply with DOJ's request for structural remedies (i.e. divestitures) on... login to read the rest view available tags
9	member 11/08/17 6:11PM Re: Re: Re: Re: Re: Re: TWX/T deal 8
Trump doesn't like CNN :) He'll dick them over somehow. view available tags
8	member 11/08/17 5:06PM Re: Re: Re: Re: Re: TWX/T deal 7
It sounds like DOJ is demanding a sale of all of Turner--which would be a dealbreaker. It is difficult to understand why TWX would have to divest only CNN--Comcast did not need to sell NBC... login to read the rest view available tags
7	member 11/08/17 4:40PM Re: Re: Re: Re: TWX/T deal 6
not sure why if you are AT&T you just don't sell CNN instead of putting up a fight that will get dragged out. Win - where do you think TWX trades if there is a view available tags
6	member 11/08/17 2:52PM Re: Re: Re: TWX/T deal 5
I think you see TWX do what Fox is contemplating if this deal breaks apart----put HBO + Warner Bros into one company---spin-off Turner and domestic cable nets into another company (though Turner is pretty global).... login to read the rest 1 view available tags
5	member 11/08/17 2:25PM Re: Re: TWX/T deal 4
you called it on CNN in your write up. what do you think downside of TWX is under a deal break? view available tags
4	member 11/08/17 1:39PM Re: TWX/T deal 3
https://www.ft.com/content/149b22dc-c494-11e7-a1d2-6786f39ef675 According to FT, primary stumbling block is CNN view available tags
3	member 11/02/17 12:11PM TWX/T deal
repetek - thanks for the question. I struggle to see where this deal fails given that this deal is about vertical integration. If anything, companies like FB and GOOG have become signficantly stronger (and Twitter... login to read the rest 2 view available tags
2	member 11/02/17 11:29AM TWX/T deal
Updated thought sin light of the WSJ article this am and the widened spread? Where is risk to TWX if it fails? Isn't everyone on the tsreet invested in this here? I agree with you... login to read the rest view available tags
1	member 2/23/17 12:14AM PDF with formatted tables -
Link to full document https://www.dropbox.com/s/lnm2ocj986mtwwb/TWX%20writeup.pdf?dl=0 view available tags

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			2022	2023
Price:	8.12	EPS	1.23	1.30
Shares Out. (in M):	50	P/E	6.7	6.3
Market Cap (in $M):	408	P/FCF	7.0	6.5
Net Debt (in $M):	180	EBIT	100	105
TEV (in $M):	588	TEV/EBIT	5.9	5.8

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