Tag: Media and Entertainment

Cumulus Media (CMLS) – Likely To Complete Debt Swap

Posted on by cpereira@noblefcm.com


Monday, April 22, 2024

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.

Amended debt swap. Upon pressure from the majority of its debt holders, the company amended the terms of its debt swap, decreasing the discount on the debt from 80% to 94%, but also decreasing the interest rate from the previous plan of 8.75% to 8.0%. This plan for the debt conversion appears likely to be completed given that it is estimated that 90% plus of the holders have agreed to the terms. The company needs only 95% of its lenders to agree to the new terms by May 1 to complete the conversion. 

Lengthens maturities. The new debt will extend maturities from 2026 to 2029, providing a large runway for the company to execute its growth initiatives and debt reduction efforts. 


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 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 – Gray Television Stations Win Large Market and Small Market Service to America Awards

Posted on by aweinsoff@channelchek.com

Research News and Market Data on GTN

April 16, 2024 07:00 ET| Source: Gray Television, Inc.

ATLANTA, April 16, 2024 (GLOBE NEWSWIRE) — The National Association of Broadcasters Leadership Foundation (“NABLF”) selected two television stations owned by Gray Television, Inc. (NYSE: GTN) for this year’s coveted Service to America Awards. The NABLF’s Service to America Awards recognize outstanding community service by local broadcasters each year for their exemplary service to their communities. The NABLF recognizes the winners in each category at an in-person gala in Washington, DC, on June 4, 2024.

WANF (CBS) in Atlanta, Georgia, won the Large Market category for its investigative series “In Plane Sight: an investigation into racial profiling at airports by TSA and DEA.” Atlanta News First Investigates exposed plainclothes drug agents seizing money from innocent passengers at Hartsfield-Jackson Airport, the busiest airport in the world. By employing special investigative techniques to uncover the drug agents and their methods — and using a 360-degree camera, WANF Chief Investigator Brendan Keefe was able to hold local police and the federal government accountable for taking millions in cash from people who were never arrested or charged with crimes, most of whom were people of color. Congress is now poised to pass The FAIR Act, a proposed new law that would no longer force airline passengers to prove themselves innocent just to keep their own money.

WJHG (NBC) in Panama City, Florida, won the Small Market category for its community service program “Chapter Chat,” a campaign to close the reading gap among children that was further widened after Hurricane Michael and the pandemic. This effort began after the WJHG news team reported less than half of third graders in Bay County, Florida could read on grade level, and over 900 children were considered homeless. While the news team asked tough questions to school officials, they also sought solutions. They created the Chapter Chat book club to promote reading and encourage using the public library, they held a book drive that collected over 1000 books for F.L.O.W., a free library on wheels that distributes books to children, and they read to children at local schools. Library officials credit the Chapter Chat campaign with helping improve visitation by almost 20 percent, and they report a 14 percent increase in library card holders since the campaign started. The station’s campaign also helped them secure a grant to get more books in circulation.  WJHG-TV previously won the Service to Community Award for Small Market Television in 2020 for its enterprise series “Remembering the Forgotten” about the lack of federal aid following Hurricane Michael in 2018.

“We are very proud of the great journalism across our company and industry that leads to actual results that improve local communities,” said Gray Executive Chairman and CEO Hilton H. Howell Jr. “We salute all of our honorees and especially Gray television stations WANF and WJHG for their continued commitment to quality journalism.”

About Gray:

Gray Television, Inc. is a multimedia company headquartered in Atlanta, Georgia. Gray is the nation’s largest owner of top-rated local television stations and digital assets. Its television stations serve 114 television markets that collectively reach approximately 36 percent of US television households. This portfolio includes 79 markets with the top-rated television station and 102 markets with the first and/or second highest rated television station. Gray also owns video program companies Raycom Sports, Tupelo Media Group, and PowerNation Studios, as well as the studio production facilities Assembly Atlanta and Third Rail Studios.   Gray owns a majority interest in Swirl Films. For more information, please visit www.gray.tv.

Gray Contact:

Kevin P. Latek, Executive Vice President, Chief Legal and Development Officer, 404-266-8333

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Release – Entravision Ignites Phoenix Airwaves with Launch of Fuego 106.7 FM

Posted on by aweinsoff@channelchek.com

April 15, 2024

Featuring a Latin Urban and Musica Mexicana Fusion, Today’s Hottest Global Musical Movement

SANTA MONICA, Calif.–(BUSINESS WIRE)–Entravision Communications Corporation announces the highly-anticipated launch of Fuego 106.7 FM, marking a significant milestone in the realm of radio broadcasting in Phoenix. As a vibrant celebration of culture and music, Fuego 106.7 FM emerges as the premier destination for the dynamic and thriving Latino community in Phoenix and surrounding areas.

“Aimed at the growing Latino youth segment, Fuego 106.7 FM strategically taps into their influence in both cultural and ideological landscapes. This initiative provides a platform to elevate their voices and mobilize them toward community and civic issues, all while celebrating their culture through their love of music”Post this

With a steadfast commitment to Latino diversity, vibrancy, and community engagement, Fuego 106.7 FM presents a carefully curated fusion of Latin Urban beats and Musica Mexicana rhythms, capturing the essence of today’s hottest stars in the global music scene. This groundbreaking initiative underscores Entravision’s dedication to amplifying the voices and experiences of Latino youth, providing a dynamic platform where culture and creativity converge harmoniously.

“We are thrilled to unveil Fuego 106.7 FM; it represents a milestone moment in our journey to connect with Latino audiences on a deeper level. Through the power of music and cultural storytelling, we aim to ignite passion, spark conversation, and foster a community where listeners and brands can connect, celebrate and be inspired,” said Jeffery Liberman, President and Chief Operating Officer at Entravision.

Fuego 106.7 FM will showcase a curated lineup featuring the hottest Latin hits from today’s most celebrated artists such as Peso Pluma, Karol G, Xavi, Anitta, Fuerza Regida and Bad Bunny. Designed to resonate with Arizona’s Latino bilingual and bicultural audience, the station complements Entravision’s top rated radio family in Phoenix, including La Suavecita KVVA 107.1 FM (Regional Mexican, 90s Grupero and Cumbia), and La Tricolor KLNZ 103.5 FM (Regional Mexican). Together, Entravision’s three-station radio cluster form a diverse and powerful radio ecosystem that caters to the diverse musical tastes of the local Latino community.

A bicultural and bilingual talent lineup on Fuego 106.7M, including Edgar “Shoboy” Sotelo, Hector Millan, and Oscar “DJ Kazzanova” Cortes will deliver an immersive experience that resonates across generations and backgrounds.

“Aimed at the growing Latino youth segment, Fuego 106.7 FM strategically taps into their influence in both cultural and ideological landscapes. This initiative provides a platform to elevate their voices and mobilize them toward community and civic issues, all while celebrating their culture through their love of music,” said Nestor Rocha, Vice President of Audio Programming at Entravision.

Fuego program line-up includes:

  • The Shoboy Show | Monday – Friday 6AM – 10AM. A bilingual and bicultural sensation hosted by the dynamic Edgar “Shoboy” Sotelo, offers a feel-good journey tailored for the modern Latino generation embracing the “Spanglish” lifestyle.
  • Commercial-Free Mix Show at Noon | Monday – Friday 12PM.
  • Hector Millan | Monday – Friday 3PM – 7PM.
  • The Saturday Sunset Mix | Saturdays 4PM – 6PM.
  • The Saturday Fuego Night Mix | Saturdays 6PM – 10PM.

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 and Asia. Our digital segment offers a full suite of end-to-end advertising services across the world. We have commercial partnerships with X Corp. (formerly known as 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.

Contacts

Matthew Cárdenas
Senior Vice President, Integrated Marketing Solutions
matt.cardenas@entravision.com

Fabiola Rangel
Senior Director, Marketing and Communications
fabiola.rangel@entravision.com

Release – Snail Inc. Unveils Release Date for Anticipated Title, Bellwright

Posted on by aweinsoff@channelchek.com

Research News and Market Data on SNAL

April 11, 2024 at 9:00 AM EDT

CULVER CITY, Calif., April 11, 2024 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail” or “the Company”), a leading, global independent developer and publisher of interactive digital entertainment, is thrilled to announce its much-anticipated title, “Bellwright” is officially launching into Early Access on Steam, on April 23rd, 2024, at 12:00 pm UTC.

Bellwright promises to be a groundbreaking addition to Snail’s portfolio, offering an immersive gaming experience that transcends traditional gaming. Bellwright is a city builder, RPG, and survival strategy game where players are the leaders and catalysts of a revolution. Set in a rich and dynamic world filled with intricate storytelling and innovative gameplay mechanics, Bellwright brings something unique to the gaming landscape.

Following the success of Snail Inc.’s recent releases, including ARK Survival Ascended’s “Scorched Earth” map and “Bob’s Tall Tales” DLC, Snail Inc. is set to maintain its momentum entering the second quarter of 2024. ARK: Survival Ascended and Bob’s Tall Tales were both in the top three selling software on Steam at launch. These successes, resulting in an approximately 400% player increase on one of Snail’s biggest titles, serve as a testament to Snail’s dedication to delivering immersive experiences that resonate with players.

Bellwright underwent a sneak peek creator beta test last month, generating overwhelmingly positive feedback from participants. This successful beta test further solidified Snail’s confidence in the game’s potential to resonate with players. “I think we’ll be playing more of it. This first look is good, but … the more we play the better it will get.” -Raptor (Streamer and YouTube Creator)

“We are incredibly excited to unveil Bellwright to the world,” said Jim Tsai, CEO of Snail, Inc. “With its compelling narrative and immersive gameplay, we believe Bellwright has the potential to captivate players and become a long-term success.”

As Bellwright’s official release date approaches, Snail Inc. remains committed to delivering value to shareholders and stakeholders.

For more information, visit Snail Games.

About Snail, Inc.

Snail, Inc. 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, including the scheduled release date of ‘Bellwright’ and the overall acceptance and positive feedback of ‘Bellwright’ by players. 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. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, which was filed by the Company with the SEC on April 1, 2024, and other documents filed by the Company from time to time with the SEC. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

Contacts:

Investors:

investors@snail.com

Press:

media@snail.com 

Release – Snail Games Unveils First Expansion Map and DLC for ARK: Survival Ascended

Posted on by aweinsoff@channelchek.com

Research News and Market Data on SNAL

April 3, 2024 at 8:00 AM EDT

CULVER CITY, Calif., April 03, 2024 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or “the Company”), a leading global independent developer and publisher of interactive digital entertainment, today announced the release of significant new content for ARK: Survival Ascended. This update, featuring the Scorched Earth Expansion Map and Bob’s Tall Tales DLC, is designed to enhance the gaming experience and deepen the ARK universe, underlining Snail Games’ dedication to engaging a broader audience.

The Scorched Earth Expansion Map, available at no additional cost to players of ARK: Survival Ascended starting April 1st, introduces players to an immersive desert environment filled with new survival dynamics and challenges. Additionally, the paid DLC, Bob’s Tall Tales, voiced by Karl Urban, offers players a narrative-rich adventure through the lore of ARK. The first story of Bob’s Tall Tales available at launch, Frontier Showdown, features desert-themed goodies, the new ability to build train tracks across the landscape, and Wild West-style dino raids. Further stories, including Steampunk Ascent and Wasteland Wars, are slated for future release. The dual launch aims not only to enrich the player’s experience but also to extend the appeal of ARK Survival Ascended. Moreover, starting April 1st, ARK Survival Ascended (Cloud, PC, Xbox Series X|S) becomes available on Microsoft’s Game Pass, extending its reach to a wider player base.

“These new additions to our ARK Survival Ascended represent another strategic initiative to enhance our flagship franchise’s position in the competitive gaming industry,” said Jim Tsai, CEO of Snail, Inc. “Our investment in expanding ARK: Survival Ascended with compelling content aims to cater our dedicated player base and broaden our game’s market reach, brand presence and visibility within the gaming community. We’re excited about the future of the ARK franchise as we continue to explore innovative ways to expand and engage our global audience. Moreover, we aim to leverage our expansion and success in the ARK universe and other game titles to increase our market penetration and shareholder value.”

About Snail, Inc. – https://www.snailgamesusa.com/

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.

Contacts:

Investors:

investors@snail.com

Press:

media@snail.com

Snail (SNAL) – Nearing The Berth Of Ark

Posted on by cpereira@noblefcm.com


Wednesday, April 03, 2024

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.

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.

Noisy Q4 results. The company reported Q4 revenue of $28.6 million, below our estimate of $31.6 million. Adj. EBITDA for the quarter was $3.6 million, substantially lower than our estimate of $12.4 million. The results were driven by higher than expected deferred revenue and engine fees. Notably, deferred revenue will be recognized as DLC packages included in the sale of ARK: Survival Ascended (ASA) are released.

Deferred revenue recognition. The deferred ASA revenue will be split evenly across the five DLCS that are included in the game and recognized as the DLCs are released. Three of the DLCs included in ASA will be released in 2024 (Q2, Q3, Q4) with the remaining two expected in 2025. Simply put, revenues are being deferred, but not all of the associated costs are being deferred. 


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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. 

AdTheorent (ADTH) – Is A Sweetened Offer Possible?

Posted on by slightbourne@noblecapitalmarkets.com


Tuesday, April 02, 2024

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.

Definitive merger agreement. On April 1, 2024, the company announced it has entered into a definitive merger agreement to be acquired by privately held Cadent, LLC, a subsidiary of Novacap, for $324 million. The merger is an all cash transaction at $3.21 per share. Notably, the ADTH shares have increased roughly 160% over the past six months and currently trade slightly above the offering price.

Terms of the agreement. The merger agreement includes a 33-day go-shop period, which allows the company to solicit alternative acquisition proposals until its expiration at 11:59 pm ET on May 4. The agreement includes a termination fee of approximately $11.4 million. Importantly, accepting a superior deal during the go-shop window would lower the termination fee to roughly $6.5 million. Pending shareholder approval, the transaction is expected to be completed by the third quarter of 2024.

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 – Snail, Inc. to Report Fourth Quarter & Full Year 2023 Financial Results

Posted on by aweinsoff@channelchek.com

Research News and Market Data on SNAL

April 1, 2024 at 8:31 AM EDT

PDF Version

CULVER CITY, Calif., April 01, 2024 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or “the Company”), a leading, global independent developer and publisher of interactive digital entertainment, announced today that it will report financial results for the fourth quarter and full year ended December 31, 2023, today, April 1, 2024. Management will host a conference call and webcast on the same day at 4:30 p.m. ET to discuss the results.

Participants may listen to the live webcast and replay on the Company’s investor relations website at https://investor.snail.com/.

About Snail, Inc.
Snail, Inc. 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, PC’s and mobile devices.

Contacts:

Investors:
investors@snail.com

Press:
media@snail.com

Townsquare Media (TSQ) – Alleviates A Stock Overhang

Posted on by slightbourne@noblecapitalmarkets.com


Monday, April 01, 2024

Townsquare is a community-focused digital media and digital marketing solutions company with market leading local radio stations, principally focused outside the top 50 markets in the U.S. Our assets include a subscription digital marketing services business, Townsquare Interactive, providing website design, creation and hosting, search engine optimization, social media and online reputation management as well as other digital monthly services for approximately 26,800 SMBs; a robust digital advertising division, Townsquare IGNITE, a powerful combination of a) an owned and operated portfolio of more than 330 local news and entertainment websites and mobile apps along with a network of leading national music and entertainment brands, collecting valuable first party data, and b) a proprietary digital programmatic advertising technology stack with an in-house demand and data management platform; and a portfolio of 321 local terrestrial radio stations in 67 U.S. markets strategically situated outside the Top 50 markets in the United States. Our portfolio includes local media brands such as WYRK.com, WJON.com, and NJ101.5.com and premier national music brands such as XXLmag.com, TasteofCountry.com, UltimateClassicRock.com and Loudwire.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.

Repurchases shares. The company announced that it has repurchased and will retire 1.5 million of its shares from MSG National Properties for a $9.76 per share, or an attractive 11% discount from its closing price on March 29th. We believe that the repurchases alleviates a large overhang for the TSQ shares, with MSG now owning less than 200,000 shares post the repurchase. The move follows a 1.5 million share repurchase from MSG in June 2023 at $9.70 per share. 

Financially capable. As of December 31, there was $61 million in cash and it generated significant cash flow of $68 million last year. Furthermore, its debt leverage has been coming down, currently 4.4 times adj. EBITDA from over 5 times just 2 years earlier. Given its improving fundamental outlook, the board recently increased its annual dividend to $0.79 per share, offering a current annualized dividend yield at an attractive 7.2%. 

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 – Bowlero Promotes Zac Sulma To Chief Sales Officer

Posted on by aweinsoff@channelchek.com

Research News and Market Data on BOWL

03/28/2024

RICHMOND, Va.–(BUSINESS WIRE)– Bowlero Corp. (NYSE: BOWL) (“Bowlero” or the “Company”), one of the world’s premier operators of location based entertainment, announced today the promotion of Zac Sulma as Chief Sales Officer. Mr. Sulma has been a driving force behind the company’s same store sales expansion in fiscal year 2024 and will be responsible for enhancing future sales initiatives. Mr. Sulma will report directly to Thomas Shannon, Bowlero’s Founder, Chairman, and CEO.

“We are pleased to announce the promotion of Mr. Sulma to Chief Sales Officer,” stated Thomas Shannon, Founder, Chairman, and CEO of Bowlero. “Under his leadership, the Sales Department has exceeded expectations, showcasing their ability to navigate challenges and capitalize on new opportunities. In his new role, Mr. Sulma will continue to spearhead key initiatives, including the launch of our innovative National Sales Program. With his proven track record of success, Mr. Sulma is the perfect leader to drive this initiative and others forward, revolutionizing our sales approach and strengthening our market position.”

Mr. Sulma has been an employee since 2008, starting as an assistant manager at AMF Houston Lanes. Throughout his tenure, Mr. Sulma showcased his leadership skills playing an instrumental role in the successful launch of numerous Bowlero venues. In 2016, his performance led him to transition to the Sales Department, where he excelled as Regional Vice President. Most recently Mr. Sulma assumed oversight of the entire sales department, a skilled team comprising over 200 associates.

In closing Mr. Shannon said, “Mr. Sulma’s dedication and commitment to our company’s success make him an invaluable asset to our team. We look forward to the impact of his leadership as we embark on this exciting new chapter at Bowlero.”

About Bowlero Corp.

Bowlero Corp. is one of the world’s premier operators of location-based entertainment. With approximately 350 locations across North America, the Company serves more than 40 million guest visits annually through a family of brands that include Lucky Strike, Bowlero and AMF. In 2019, Bowlero acquired the Professional Bowlers Association, the major league of bowling and a growing media property that boasts millions of fans around the globe. For more information on Bowlero, please visit BowleroCorp.com.

For Media:

PR@BowleroCorp.com

Source: Bowlero Corp

Direct Digital Holdings (DRCT) – Hits The Reset Button

Posted on by cpereira@noblefcm.com


Wednesday, March 27, 2024

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.

Q4 miss. The company reported disappointing Q4 results with revenue of $41.0 million and adj. EBITDA of $2.3 million. Both figures were well below our estimates of $67.9 million and $6.4 million, respectively. The underperformance was largely driven by system changes that the company made to its Sell-side segment during the quarter.

Re-positioning for the future. During the quarter, the SSP underwent technological changes to enable it to process ad impressions using alternative IDs. This transformation was necessary for the company to prepare for the impending cookie deprecation, which Google is expected to implement later this year.


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 – Bowlero Corp. Opens Lucky Strike Miami

Posted on by aweinsoff@channelchek.com

Research News and Market Data on BOWL

03/25/2024

RICHMOND, Va.–(BUSINESS WIRE)– Bowlero Corporation (NYSE: BOWL), the global leader in bowling entertainment, announced today the opening of Lucky Strike Miami, the second new build using the Lucky Strike brand since it was acquired in September. Lucky Strike Miami is located in the heart of Downtown Miami within Miami Worldcenter, a 27-acre, $6 billion mixed-use destination transforming Miami’s urban core with world-class shopping, dining, hospitality, and residential options, just steps away from the Kaseya Center, home to the Miami Heat.

“Lucky Strike Miami epitomizes our commitment to innovation and excellence,” stated Thomas Shannon, Founder, Chairman, and CEO of Bowlero Corp. “As we continue to strategically expand the Lucky Strike brand nationwide, this new location represents not only a new chapter in our growth but also a testament to our commitment to providing unparalleled experiences for guests across the country.”

Lucky Strike Miami is a 30,000 sq. ft. premier entertainment destination featuring 28 state-of-the-art bowling lanes and a contemporary aesthetic. Beyond bowling, this destination elevates leisure with its expansive arcade, a craft cocktail bar, and an intimate VIP room with six private bowling lanes. Lucky Strike Miami’s menu will consist of dynamic culinary concepts that feature luxe fair with quality ingredients while elevating traditional classics.

“Not only are we thrilled to be welcoming Lucky Strike to Miami Worldcenter, but we are excited to be bringing the beloved bowling brand back to Miami once again following its nearly decade-long run on Miami Beach,” said Nitin Motwani, Managing Partner of Miami Worldcenter Associates. “Lucky Strike will not only enhance Downtown Miami’s status as a family-friendly destination, but it will also be a wonderful complement to Miami Worldcenter’s various food, beverage, and entertainment options.”

Lev Ekster, President of Bowlero Corp., said in closing “Lucky Strike Miami embodies the vibrant ambiance of Miami, redefining the bowling experience for guests of all ages. Our mission extends beyond entertainment; it’s about creating memorable moments and fostering positive guest experiences. We look forward to this next chapter in Miami as we open our doors to the community.”

Lucky Strike Miami will open to the public on March 25th.

About Bowlero Corp.

Bowlero Corporation is one of the world’s premier operators of location-based entertainment. With approximately 350 locations across North America, the Company serves more than 40 million guest visits annually through a family of brands that include Lucky Strike, Bowlero, and AMF. In 2019, Bowlero acquired the Professional Bowlers Association, the major league of bowling and a growing media property that boasts millions of fans around the globe. For more information on Bowlero, please visit BowleroCorp.com.

About Miami Worldcenter:

Miami Worldcenter is a new $6 billion mixed-use destination in the heart of Downtown Miami. As one of the largest private urban real estate developments underway in the United States, the project occupies 27 acres spanning ten city blocks and offers world-class retail, hospitality, commercial and residential uses. Several phases of the project have already been completed and occupied, including three residential towers, a significant portion of the retail component, and a newly opened citizenM hotel.

Miami Worldcenter Associates serves as the master developer for the overall mixed-use development, led by Managing Partners Art Falcone and Nitin Motwani, in partnership with CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer. Together they have assembled a best-in-class development team that is currently transforming the urban core of Miami into one of the country’s largest mixed-use destinations. Learn more at www.miamiworldcenter.com.

For Media:

PR@BowleroCorp.com

mwc@schwartz-media.com

Source: Bowlero Corp

Snail (SNAL) – Media Strategy Potentially Reaches New Audiences

Posted on by cpereira@noblefcm.com


Friday, March 22, 2024

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.

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.

Delivers animated series.  The company’s highly anticipated series, ARK: The Animated Series, which stars Academy Award winning actors Michelle Yeoh and Russell Crowe, is now available on Paramount+. We believe the series can leverage Paramount’s 67.5 million subscribers to reach new audiences and potentially convert new viewers to ARK players. We view the release of ARK: The Animated Series as a significant step in the company’s crossover media strategy. 

Animated series DLC. In unison with the release of ARK: The Animated Series, the company is releasing a new DLC package that includes four new character skins from the series. The DLC release aims to drive user engagement across platforms and offer content to existing players who are fans of the show and new players alike. 


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