and Dominion Voting Systems ado “creates headline risk but is unlikely to impact business fundamentals and is already reflected in the equity price,” Evercore ISI analysts led by Vijay Jayant wrote in a note to clients last week.
Class A shares of Fox are down 6% over the last month, shedding some $520 million and $90 million in the first trading sessions following the Carlson and Dominion announcements, respectively. Helping to mitigate the potential bottom-line effects of the recent controversy is Fox’s hefty cash pile and Fox News’ success at replicating the ratings of Carlson’s primetime predecessor Bill O’Reilly, after his own sudden and controversial ouster due to sexual misconduct allegations, Evercore noted.
Fox is likely to offer further guidance on the tax impacts and insurance coverage of its settlement with Dominion during its Tuesday morning earnings call, Jayant wrote. In an April note to clients, CFRA analyst Kenneth Lofton knocked down his 2023 and 2024 earnings estimates for Fox by about 5%, pointing to the negative publicity’s likely drag on advertising revenue.Compared to other legacy media stocks, Fox will be “relatively less impacted” by the ongoing Writers Guild of Americaaffecting most scripted programming in the U.S.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Sumber: CNN - 🏆 4. / 95 Baca lebih lajut »