Industries
Media & Entertainment
Toutes les analyses de Media & Entertainment — 8 analyses.
50/100
69Buffett
The New York Times : l'économie du bundle à pleine valeur
The New York Times Company est une entreprise de médias premium, portée par l'abonnement, dont les 13.08 millions d'abonnés, dont environ 12.52 millions en numérique seul, financent le journalisme, le sport via The Athletic, les jeux, la cuisine et la publicité. La thèse centrale est que son bundle multiproduit rend les abonnements plus difficiles à résilier : le chiffre d'affaires des abonnements 2025 a atteint 1.95 milliard de dollars US sur un total de 2.825 milliards, et au T1 2026 le revenu des abonnements numériques seuls a progressé de 16.1 %, mais à environ 32x les bénéfices passés et 20x la VE/EBITDA l'action intègre déjà une bonne part de la prochaine étape, un effet fiscal temporaire de trésorerie embellissant le flux de trésorerie disponible tandis que la recherche par IA menace le haut de l'entonnoir de découverte. Note Conserver : un rare gagnant à grande échelle de l'information payante, mais l'économie du bundle, la qualité du flux de trésorerie et l'optionalité IA sont déjà proches de la pleine valeur, sans marge de sécurité pour de nouveaux acheteurs.
34/100
Paramount Skydance Corporation: A Long-Term Value Investing Study
Good assets, bad security. The content assets are real (CBS, Paramount+, a vast film library), but linear TV keeps eroding, free cash flow is thin, and the equity is being reshaped by a mega-acquisition of WBD: a $47 billion equity raise plus roughly $79 billion of net debt. The $10.61 margin of safety is hard to verify, with an ideal entry below $7. Rating Avoid: real content assets attached to an unsettled, likely heavily diluted, more highly leveraged future platform, with no verifiable margin of safety for a conservative value investor.
40/100
News Corp Class A Deep Value Investment Research
News Corp's non-voting Class A shares are a different share class of the same company as voting NWS Class B shares. The company is a hybrid information-services holding company built from Dow Jones, REA/Move digital real estate, HarperCollins, and news media assets, with uneven moat quality across segments, consolidated ROE only in the mid-single digits, and a governance discount from the Murdoch dual-class structure. Rating Watch: at roughly $26.10, the shares sit within a reasonable value range, free cash flow yield is below Treasuries, and the margin of safety is insufficient, with an ideal buy range of $20-23.
47/100
TKO Group Deep Value Investment Research
TKO is a scarce sports IP and rights distributor built around UFC and WWE, with strong brands, multi-year media rights contracts, and low capital intensity. The core thesis is that business quality is above most media and entertainment companies, but the current price of roughly $205 implies about 34.5x last year's free cash flow and leaves too little margin of safety. Research rating Watch: a high-quality compounder to track closely, with an ideal buy range of $90-110.
42/100
74Buffett
Fox Corporation: A Deep Value Investing Analysis
A news-and-sports media company with strong cash flow, heavy buybacks and a moderate moat, but its linear distribution is being eroded by streaming; at $59.23 the margin of safety is insufficient, with an ideal buy range of $50–55. Rating: Watch.
41/100
26Buffett
Live Nation Entertainment: A Long-Term Business Owner's Perspective
The world's largest live entertainment company; 2025 revenue of $25.2 billion serving 159 million live attendees; Concerts runs on thin margins while Ticketing/Sponsorship are high-margin, but antitrust is eroding the flywheel and the valuation sits at the optimistic ceiling. Rating Watch, ideal buy $60-80.
45/100
39Buffett
Disney: A Long-Term Owner's Perspective
A good asset at a fair price: Disney's IP + sports + experiences composite ecosystem shows real improvement, but at about $103 the market has already largely priced in the buyback recovery, the streaming turnaround, and the leadership transition, leaving a thin margin of safety. Rated Watch.
32/100
Warner Bros. Discovery: A Long-Term Owner's Perspective
A combination of streaming, studios, and linear television; 2025 FCF of 3.1 billion gives a 4.6% FCF yield, roughly even with the 4.57% 10-year Treasury. The PSKY merger at $31 per share in cash has shareholder approval, and today's 27.03 already carries an event premium; on standalone operating value the ideal buy range is $12-17, leaving the current price neither cheap nor clean. Rating Watch: a strong-asset company mid-transformation whose price already prices in the deal, with too little standalone margin of safety for a conservative long-term owner.