Tag: Media and Entertainment

Cumulus Media (CMLS) – Some Hopeful Signs Total Revenues Are Stabilizing

Posted on by cpereira@noblefcm.com


Monday, July 31, 2023

Cumulus Media (NASDAQ: CMLS) is an audio-first media company delivering premium content to over a quarter billion people every month — wherever and whenever they want it. Cumulus Media engages listeners with high-quality local programming through 406 owned-and-operated radio stations across 86 markets; delivers nationally-syndicated sports, news, talk, and entertainment programming from iconic brands including the NFL, the NCAA, the Masters, CNN, the AP, the Academy of Country Music Awards, and many other world-class partners across more than 9,500 affiliated stations through Westwood One, the largest audio network in America; and inspires listeners through the Cumulus Podcast Network, its rapidly growing network of original podcasts that are smart, entertaining and thought-provoking. Cumulus Media provides advertisers with personal connections, local impact and national reach through broadcast and on-demand digital, mobile, social, and voice-activated platforms, as well as integrated digital marketing services, powerful influencers, full-service audio solutions, industry-leading research and insights, and live event experiences. Cumulus Media is the only audio media company to provide marketers with local and national advertising performance guarantees. For more information visit www.cumulusmedia.com.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Q2 operating results. The company reported quarterly revenue of $210.1 million, in line with our estimate of $208.3 million.  While National/Network advertising remains weak, Local advertising has some greenshoots particularly with Digital Marketing Services revenue. Adj. EBITDA in the quarter was $28.7 million, beating our estimate of $21.8 million by an impressive 32%, excluding a $2 million nonrecurring benefit. The adj. EBITDA surprise was attributed to aggressive cost cutting efforts. 

Positive DMS outlook. Digital Marketing Services performed strongly, with revenue up 21% in the latest quarter. Management believes there is significant untapped growth potential in local DMSand is tripling its salesforce. Management anticipates an increase of 3x to 4x its current revenue run rate of $40 million in the next few years. 


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Travelzoo (TZOO) – Liftoff in Europe?

Posted on by cpereira@noblefcm.com


Friday, July 28, 2023

Travelzoo® provides its 30 million members with exclusive offers and one-of-a-kind experiences personally reviewed by our deal experts around the globe. We have our finger on the pulse of outstanding travel, entertainment, and lifestyle experiences. We work in partnership with more than 5,000 top travel suppliers—our long-standing relationships give Travelzoo members access to irresistible deals.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Solid Q2 results. The company reported better than expected revenue and adj. EBITDA in Q2. Revenue was $21.1 million and adj. EBITDA was $4.2 million, compared with our estimates of $20.5 million and $3.4 million, respectively. Revenue growth accelerated to 19% in Q2, compared with 17% growth in Q1.

Strong margins. Adj. EBITDA margins were up to nearly 20%, due in large part to 27% operating profit margins in the North America business segment. Operating profit in Europe, though, still negative, improved to nearly flat (-3%).


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – Entravision Schedules Second Quarter 2023 Earnings Release And Conference Call

Posted on by aweinsoff@channelchek.com

Research News and Market Data on EVC

07/27/2023

SANTA MONICA, Calif.–(BUSINESS WIRE)– Entravision (NYSE: EVC), a leading global advertising solutions, media and technology company, announced that it will release its second quarter 2023 financial results after market close on Thursday, August 3, 2023. The Company will host a conference call that day at 5:00 p.m. Eastern Time to discuss the second quarter 2023 results.

To access the conference call, please dial (844) 836-8739 (U.S.) or (412) 317-5440 (International) ten minutes prior to the start time. The call will also be available via live webcast on the investor relations portion of the Company’s website located at www.entravision.com.

If you cannot listen to the conference call at its scheduled time, there will be a replay available through Thursday, August 17, 2023, which can be accessed by dialing (844) 512-2921 (U.S.) or (412) 317-6671 (International) and entering the passcode 10180063. The webcast will also be archived on the Company’s website.

About Entravision

Entravision is a global advertising solutions, media and technology company. Over the past three decades, we have strategically evolved into a digital powerhouse, expertly connecting brands to consumers in the U.S., Latin America, Europe, Asia and Africa. Our digital segment, the company’s largest by revenue, offers a full suite of end-to-end advertising services in 40 countries. We have commercial partnerships with Meta, Twitter, TikTok and Spotify, and marketers can use our Smadex and other platforms to deliver targeted advertising to audiences around the globe. In the U.S., we maintain a diversified portfolio of television and radio stations that target Hispanic audiences and complement our global digital services. Entravision remains the largest affiliate group of the Univision and UniMás television networks. Shares of Entravision Class A Common Stock trade on the NYSE under ticker: EVC. Learn more about our offerings at entravision.com or connect with us on LinkedIn and Facebook.

Christopher T. Young
Chief Financial Officer
Entravision
310-447-3870

Kimberly Orlando
Addo Investor Relations
310-829-5400
evc@addo.com

Source: Entravision

Release – Travelzoo Q2 2023 Earnings Conference Call on July 27 at 11:00 AM ET

Posted on by aweinsoff@channelchek.com

Research News and Market Data on TZOO

07/21/2023

NEW YORK, July 21, 2023 /PRNewswire/ — Travelzoo® (NASDAQ: TZOO):

WHAT:Travelzoo, a global Internet media company that provides exclusive offers and experiences for members, will host a conference call to discuss the Company’s financial results for the second quarter ended June 30, 2023. Travelzoo will issue a press release reporting its results before the market opens on July 27, 2023.
WHEN:July 27, 2023 at 11:00 AM ET
HOW:A live webcast of Travelzoo’s Q2 2023 earnings conference call can be accessed athttp://ir.travelzoo.com/events-presentations. The webcast will be archived within 2 hours of the end of the call and will be available through the same link.
CONTACT:Travelzoo Investor Relations
ir@travelzoo.com

About Travelzoo

Travelzoo® provides its 30 million members with exclusive offers and one-of-a-kind experiences personally reviewed by our deal experts around the globe. We have our finger on the pulse of outstanding travel, entertainment, and lifestyle experiences. We work in partnership with more than 5,000 top travel suppliers—our long-standing relationships give Travelzoo members access to irresistible deals.

View original content to download multimedia:https://www.prnewswire.com/news-releases/travelzoo-q2-2023-earnings-conference-call-on-july-27-at-1100-am-et-301883079.html

SOURCE Travelzoo

Release – Travelzoo is the Top Choice for Travel Enthusiasts in Germany

Posted on by aweinsoff@channelchek.com

Research News and Market Data on TZOO

07/20/2023

BERLIN, July 20, 2023 /PRNewswire/ — Travelzoo® (NASDAQ: TZOO), a global Internet media company that provides exclusive offers and experiences for members, has won the top spot in the category of “Best Travel Deals Provider” in a nationwide consumer survey in Germany. The win has particular significance given Germany is the third-largest travel market in the world.

The survey was conducted by renowned research institute ServiceValue GmbH in partnership with Die Welt, one of the country’s most influential national newspapers.

Casting over 900,000 votes, consumers ranked 2,513 companies across 187 categories, making this one of the most comprehensive consumer-voted surveys in Germany. When asked which brand exhibits the highest quality for travel deals, consumers cast the largest number of votes for Travelzoo, naming it “Product Champion”.  

Winners in other categories included companies such as Mercedes-Benz, Lufthansa, Rolex, and Amazon.

Travelzoo was also recognized for “high customer value” in a second national survey this month, commissioned by popular broadsheet BILD Zeitung. Consumers cast over 500,000 votes, evaluating 2,198 companies in 138 categories.

Find out why Travelzoo is the choice of judges, industry experts, and more than 30 million members around the world. Become a Travelzoo member today: https://travelzoo.com/signup.

About Travelzoo

Travelzoo® provides its 30 million members with exclusive offers and one-of-a-kind experiences personally reviewed by our deal experts around the globe. We have our finger on the pulse of outstanding travel, entertainment, and lifestyle experiences. We work in partnership with more than 5,000 top travel suppliers—our long-standing relationships give Travelzoo members access to irresistible deals.

Travelzoo is a registered trademark of Travelzoo. All other names are trademarks and/or registered trademarks of their respective owners.

Media Contacts:    

Regina Schneider – Berlin
+49 160 7498 691
rschneider@travelzoo.com

Cat Jordan – London
+44 77 7678 1525
cjordan@travelzoo.com

Paige Cram – Los Angeles
+1 609 668 0645
pcram@travelzoo.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/travelzoo-is-the-top-choice-for-travel-enthusiasts-in-germany-301881413.html

Release – Salem Media Announces Management Changes

Posted on by aweinsoff@channelchek.com

Research News and Market Data on SALM

July 19, 2023 5:00am EDT

IRVING, Texas–(BUSINESS WIRE)– Salem Media Group, Inc. (NASDAQ: SALM) announced today some changes to the management structure of the company in a limited number of markets. These changes provide some cost savings and will allow Salem’s most seasoned leaders to expand their impact on the performance of the company.

  • Terry Fahy, Regional VP/GM for Los Angeles, will now also oversee Oxnard.
  • Steve Brodsky, GM for San Diego, will also manage Honolulu.
  • Dennis Hayes, GM for Portland, will now oversee Seattle as well.
  • Kevin Isaacs, GM for Cleveland, will now also manage Pittsburgh.
  • Mark Durkin, Regional VP/GM for Sacramento, will also manage Phoenix.

Earlier this year, Salem made similar changes with:

  • Carolyn Cassidy managing both Tampa and Columbus.
  • John Gallagher managing both Chicago and Little Rock.

In some cases, the former GM will stay on in a sales/sales management role.

Salem CEO, David Santrella, said “These changes were made to allow Salem to continue to innovate and invest in our business and to allow the very best leaders to oversee our radio stations.”

Some other changes were made as well. Salem is combining the sales efforts of Salem Media Reps and the Salem Web Network with the combined sales team reporting to Mike Reed and Mike DeAmicis at Salem Media Reps.

David Evans, Salem COO said, “This unified sales team will now have easier access to all digital assets within our company to more fully grow into a ‘One-World’ company that offers ministries, advertisers, and our audiences’ multiple platforms with which to consume content and reach communities.”

ABOUT SALEM MEDIA GROUP:

Salem Media Group is America’s leading multimedia company specializing in Christian and conservative content, with media properties comprising radio, digital media and book and newsletter publishing. Each day Salem serves a loyal and dedicated audience of listeners and readers numbering in the millions nationally. With its unique programming focus, Salem provides compelling content, fresh commentary and relevant information from some of the most respected figures across the Christian and conservative media landscape. Learn more about Salem Media Group, Inc. at www.salemmedia.com, Facebook and Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230714305565/en/

Evan D. Masyr
Executive Vice President and Chief Financial Officer
(805) 384-4512
evan@salemmedia.com

Source: Salem Media Group

Released July 19, 2023

Release – Salem Media Announces the Passing of its Co-founder Stuart Epperson Sr.

Posted on by aweinsoff@channelchek.com

Research News and Market Data on SALM

July 17, 2023 4:56pm EDT

IRVING, Texas–(BUSINESS WIRE)– Salem Media Group, Inc. (NASDAQ: SALM) with a heavy heart, announced today the passing of co-founder, Stuart Epperson. He was 86. Stuart, along with his brother-in-law, Edward Atsinger, founded Salem Communications (now Salem Media Group) in 1986 and expanded Salem’s influence with Christian and politically conservative News Talk formatted radio stations and media assets nationwide. Mr. Epperson was a longtime leader in Christian radio as a former member of the board of directors of the National Religious Broadcasters Association. In 2005, Time Magazine named him one of the 25 most influential evangelicals in America. Stuart was involved in several other conservative organizations dedicated to preserving Judeo Christian values in our culture through public policy. He was a member and the past president of the conservative Council for National Policy (“CNP”). In 1984 and 1986, Epperson was the Republican nominee for the fifth Congressional district of North Carolina.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230717970556/en/

Stuart Epperson Sr. (Photo: Business Wire)

Epperson attended Bob Jones University in Greenville, South Carolina, where he received a bachelor’s degree in radio/television broadcasting and a master’s degree in communications. Epperson is survived by his wife, Nancy, his four children, daughters Kristy, Karen, and Kathy, and son Stuart Jr. and by 21 grandchildren, 1 great grandchild and 2 more on the way, as well as a sister, Mary Lee King.

Salem Media Group Executive Chairman Ed Atsinger commented: “Stuart will be greatly missed by many. I will miss him, but I take comfort in realizing that he is already receiving his reward for a life well-lived. A life that personifies the words of the Apostle Paul in 2 Timothy 4:7-8: ‘I have fought the good fight. I have finished the race. Now there Is in store for me the crown of righteousness, which the Lord, the righteous Judge, will award to me on that day and not only to me, but also to all who have longed for his appearing.’”

ABOUT SALEM MEDIA GROUP:

Salem Media Group is America’s leading multimedia company specializing in Christian and conservative content, with media properties comprising radio, digital media and book and newsletter publishing. Each day Salem serves a loyal and dedicated audience of listeners and readers numbering in the millions nationally. With its unique programming focus, Salem provides compelling content, fresh commentary and relevant information from some of the most respected figures across the Christian and conservative media landscape. Learn more about Salem Media Group, Inc. at www.salemmedia.com, Facebook and Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230717970556/en/

Evan D. Masyr
Executive Vice President and Chief Financial Officer
(805) 384-4512
evan@salemmedia.com

Source: Salem Media Group, Inc.

Released July 17, 2023

RCI Hospitality Holdings (RICK) – 3Q23 Club and Restaurant Sales

Posted on by cpereira@noblefcm.com


Wednesday, July 12, 2023

With more than 60 units, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country’s leading company in adult nightclubs and sports bars/restaurants. Clubs in New York City, Chicago, Dallas-Fort Worth, Houston, Miami, Minneapolis, Denver, St. Louis, Charlotte, Pittsburgh, Raleigh, Louisville, and other markets operate under brand names such as Rick’s Cabaret, XTC, Club Onyx, Vivid Cabaret, Jaguars Club, Tootsie’s Cabaret, Scarlett’s Cabaret, Diamond Cabaret, and PT’s Showclub. Sports bars/restaurants operate under the brand name Bombshells Restaurant & Bar.

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

3Q23 Club and Restaurant Sales. RCI reported sales for the Nightclubs and Bombshells restaurants of $76.4 million for the fiscal third quarter ended June 30th. This is an 8.9% y-o-y increase, driven by acquisitions which was partially offset by a decline in Same Store Sales across both segments. We had projected full revenue for the quarter of $77.7 million and consensus was $77.6 million. Recall the $76.4 million does not include non-core operations, which typically can add some $0.5-$1.0 million to the final quarterly total.

Nightclubs. Revenue rose 14.1%, y-o-y, or $7.7 million, to $62.0 million, driven by acquisitions and two reopened/reformatted clubs, which added $13.3 million of revenue combined. Segment SSS declined 7.3%, the first SSS decline in nine quarters. While the Nightclub business is recession resistant, the sharp SSS decline is surprising. In the most recent quarters, management had noted some localized weakness but no discernable, overall softness in the business. Openings of new and remodeled clubs should benefit 4Q23.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – Snail, Inc. Announces Participation in Steam’s Summer Sale

Posted on by aweinsoff@channelchek.com

Research News and Market Data on SNAL

 

July 5, 2023 at 8:30 AM EDT

PDF Version

CULVER CITY, Calif., July 05, 2023 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail”), a leading, global independent developer and publisher of interactive digital entertainment, today announced its participation in the Steam Summer Sale event running from June 29 to July 13. This initiative aligns with Snail’s strategic objectives to bolster sales and expand its global footprint in the gaming community through the robust Steam platform.

As part of the Summer Sale event, Snail’s renowned survival adventure game, ARK: Survival Evolved (“ARK”), has been strategically marked down by 75%, pricing it at a highly competitive $4.99. Alongside ARK, Snail’s Old West-themed social deduction title, West Hunt, is also participating in the Summer Sale event. Developed by Tunisia-based indie game studio NewGen in collaboration with Wandering Wizard, Snail’s indie sub-label publishing division, West Hunt is offered at a 10% discount, pricing it at just $8.99.

The Summer Sale event coincides with exciting updates for West Hunt. The updates includes a dynamic, two-layered mining map along with a plethora of new content and enhancements. This innovative mining map design adds new depth to gameplay, enabling Sheriffs and Outlaws to strategize above ground or within the mine’s tunnels. It is anticipated that West Hunt will make its debut on the Nintendo Switch soon.

Jim Tsai, Chief Executive Officer of Snail, commented, “Participating in the Steam Summer Sale event offers us a significant opportunity to gain exposure of our games to a wider audience and expand our global player base. We anticipate that these discounts, coupled with our compelling new updates, will enhance the visibility and success of our games. The discount on ARK: Survival Evolved, which marked its 8th anniversary last month, signifies our strategic commitment to attract new players to this longstanding game, thereby encouraging its continued vitality.”

About Snail, Inc.

Snail is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs and mobile devices.

Forward-Looking Statements

This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “may,” “predict,” “continue,” “estimate” and “potential,” or the negative of these terms or other similar expressions. Forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements regarding Snail’s intent, belief or current expectations. These forward-looking statements include information about possible or assumed future results of Snail’s business, financial condition, results of operations, liquidity, plans and objectives. The statements Snail makes regarding the following matters are forward-looking by their nature: growth prospects and strategies; launching new games and additional functionality to games that are commercially successful, including the launch of ARK: Survival Ascended, ARK: The Animated Series and ARK 2; expectations regarding significant drivers of future growth; its ability to retain and increase its player base and develop new video games and enhance existing games; competition from companies in a number of industries, including other game developers and publishers and both large and small, public and private Internet companies; its relationships with third-party platforms such as Xbox Live and Game Pass, PlayStation Network, Steam, Epic Games Store, the Apple App Store, the Google Play Store, My Nintendo Store and the Amazon Appstore; expectations for future growth and performance; and assumptions underlying any of the foregoing.

Contacts:

Investors:

investors@snail.com 

Release – Snail, Inc. Releases Bellwright Demo at Steam Next Fest

Posted on by aweinsoff@channelchek.com

Research News and Market Data on SNAL

June 27, 2023 at 8:31 AM EDT

CULVER CITY, Calif., June 27, 2023 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail”), a leading, global independent developer and publisher of interactive digital entertainment, today announces that one of its gaming studios, Donkey Crew, launched a demo of Bellwright at Steam Next Fest, a renowned week-long celebration event running from June 19 to June 26, which features hundreds of free, playable game demos.

Bellwright, the upcoming project from Donkey Crew, is a medieval action survival game that places the power of settlement creation and expansion at players’ fingertips. The immersive gameplay invites players to spearhead a rebellion, unearth familial secrets, liberate oppressed territories, assist beleaguered villagers, and enlist support for their cause while grappling with the mysteries of a forsaken past. The interactive universe of Bellwright challenges players to strategically command their troops, demonstrate courage in combat, and solidify their legacy amongst their kinsfolk.

Steam Next Fest is a week-long celebration hosted by the Steam platform. It offers players and fans a chance to engage with new game demos, bookmark future game purchases, interact with developers, tune into live streams, and garner comprehensive information about upcoming Steam games. By the end of the Steam Next Fest, Bellwright has become the #4 most popular game among 1,200+ showcased demos.

Jim Tsai, Chief Executive Officer of Snail, commented, “The forthcoming launch of Bellwright represents an exciting time for us. Our participation in the Steam Next Fest not only offers Donkey Crew an invaluable platform for enhancing visibility and gathering insightful player feedback, but also increases Bellwright‘s exposure and broadens its user base on the Steam platform. Our unwavering dedication to incorporating feedback from our player community serves as a testament to our commitment in providing a gaming experience that is both unrivaled in quality and deeply immersive.”

About Snail, Inc.

Snail is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs and mobile devices.

Forward-Looking Statements

This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “may,” “predict,” “continue,” “estimate” and “potential,” or the negative of these terms or other similar expressions. Forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements regarding Snail’s intent, belief or current expectations. These forward-looking statements include information about possible or assumed future results of Snail’s business, financial condition, results of operations, liquidity, plans and objectives. The statements Snail makes regarding the following matters are forward-looking by their nature: growth prospects and strategies; launching new games and additional functionality to games that are commercially successful, including the launch of ARK: Survival Ascended, ARK: The Animated Series and ARK 2; expectations regarding significant drivers of future growth; its ability to retain and increase its player base and develop new video games and enhance existing games; competition from companies in a number of industries, including other game developers and publishers and both large and small, public and private Internet companies; its relationships with third-party platforms such as Xbox Live and Game Pass, PlayStation Network, Steam, Epic Games Store, the Apple App Store, the Google Play Store, My Nintendo Store and the Amazon Appstore; expectations for future growth and performance, including with regard to Donkey Crew and Bellwright; and assumptions underlying any of the foregoing.

Contacts:

Investors:
investors@snail.com

Entravision Communications (EVC) – M&A Signal?

Posted on by cpereira@noblefcm.com


Wednesday, June 21, 2023

Entravision Communications Corporation is a diversified Spanish-language media company utilizing a combination of television and radio operations to reach Hispanic consumers across the United States, as well as the border markets of Mexico. Entravision owns and/or operates 53 primary television stations and is the largest affiliate group of both the top-ranked Univision television network and Univision’s TeleFutura network, with television stations in 20 of the nation’s top 50 Hispanic markets. The Company also operates one of the nation’s largest groups of primarily Spanish-language radio stations, consisting of 48 owned and operated radio stations.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Shuns Inside Favorite. Entravision’s board appointed Michael Christenson as its Chief Executive Officer, effective July 1, 2023, denying Chris Young, the interim CEO and CFO, the position. Mr. Christenson has a decades long career as an investment banker and held leadership roles at software companies New Relic and CA Technologies. 

What does the move tell us? We believe that the appointment signals that the company will become more aggressive in seeking acquisitions. As of March 31, the company had a pristine balance sheet with roughly $180 million in cash and marketable securities and $207 million in debt, or a modest 0.3 times net debt to estimated cash flow. Given Mr. Christenson’s investment banking background, we believe that M&A likely will be his mandate.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – Entravision Appoints Michael Christenson As Chief Executive Officer

Posted on by aweinsoff@channelchek.com

Research News and Market Data on EVC

06/20/2023

SANTA MONICA, Calif.–(BUSINESS WIRE)– Entravision (NYSE: EVC), a leading global advertising solutions, media and technology company, today announced that Michael Christenson has been appointed Chief Executive Officer, effective July 1, 2023.

“We are excited to welcome Mike as Entravision’s next CEO,” said Paul A. Zevnik, Chair of Entravision’s Board of Directors. “Mike is a proven executive with operational and financial expertise and a track record of driving growth through operational execution and strategic acquisitions. We are confident that his skills and experience will help us unlock opportunities to expand our digital, television and audio segments, enhance our offerings and strengthen our competitive position in international markets. We are pleased that Mike will be joining our team to continue the mission that Walter Ulloa pursued in building the Company over many years and with the same core values that Walter instilled in the people of Entravision.”

Mr. Christenson joins Entravision with more than four decades of experience in helping companies navigate industry and technology transformation as a senior leader, investor and advisor. He previously served as President and Chief Operating Officer of two public software companies, New Relic and CA Technologies, and as an investment banker with Allen & Company and Salomon Brothers. He has also served on the board of a number of high-growth public and private technology companies.

“I am honored to join the team at Entravision,” said Mr. Christenson. “Entravision is an industry leader with a unique value proposition and an impressive suite of digital marketing services across its global footprint. As a leading global advertising solutions, media and technology company, Entravision is well positioned for continued growth and I look forward to leveraging my expertise and working together with the talented team to reach even greater heights.”

Mr. Zevnik added, “I want to thank our entire management team for working to continue the Company’s outstanding performance and building on 2022, which was a record financial year for revenue and consolidated adjusted EBITDA.”

About Entravision Communications Corporation

Entravision is a global advertising solutions, media and technology company. Over the past three decades, we have strategically evolved into a digital powerhouse, expertly connecting brands to consumers in the U.S., Latin America, Europe, Asia and Africa. Our digital segment, the company’s largest by revenue, offers a full suite of end-to-end advertising services in 40 countries. We have commercial partnerships with Meta, Twitter, TikTok and Spotify, and marketers can use our Smadex and other platforms to deliver targeted advertising to audiences around the globe. In the U.S., we maintain a diversified portfolio of television and radio stations that target Hispanic audiences and complement our global digital services. Entravision remains the largest affiliate group of the Univision and UniMás television networks. Shares of Entravision Class A Common Stock trade on the NYSE under ticker: EVC. Learn more about our offerings at entravision.com or connect with us on LinkedIn and Facebook.

Forward-Looking Statements

This press release contains certain forward-looking statements. These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this press release. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that actual results will not differ materially from these expectations, and the Company disclaims any duty to update any forward-looking statements made by the Company. From time to time, these risks, uncertainties and other factors are discussed in the Company’s filings with the Securities and Exchange Commission.

Kimberly Orlando
ADDO Investor Relations
310-829-5400
evc@addo.com

Source: Entravision

Harte Hanks (HHS) – Begins A New Chapter

Posted on by cpereira@noblefcm.com


Tuesday, June 20, 2023

Harte Hanks (NASDAQ: HHS) is a leading global customer experience company whose mission is to partner with clients to provide them with CX strategy, data-driven analytics and actionable insights combined with seamless program execution to better understand, attract, and engage their customers. Using its unparalleled resources and award-winning talent in the areas of Customer Care, Fulfillment and Logistics, and Marketing Services, Harte Hanks has a proven track record of driving results for some of the world’s premier brands including Bank of America, GlaxoSmithKline, Unilever, Pfizer, HBOMax, Volvo, Ford, FedEx, Midea, Sony, and IBM among others. Headquartered in Chelmsford, Massachusetts , Harte Hanks has over 2,500 employees in offices across the Americas, Europe and Asia Pacific .

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Appoints a new CEO. The company announced yesterday that it has appointed Kirk Davis as its new CEO, replacing Brian Lenscott, effective immediately. Davis has been nominated as a member of the company’s board of directors. Davis served as CEO of Metro Corp and previously as CEO of GateHouse Media. Davis will be aligned with shareholders, awarded 240,000 stock options to purchase HHS shares to be priced today. 

Bold move. We do not believe that there were any nefarious reasons for the abrupt CEO change. In our view, the change reflects the objectives of the board to focus on revenue growth and to consolidate its leadership at its headquarter offices in Massachusetts. 


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