They are looking for a good sale of Toy Story one and two (to be re-released next quarter), and while they are cautious about it, they are not overly concerned about it.
Michael Kupinski
good story
Although we view the cost cutting favorably, we believe the cuts are inadequate relative to the currently challenged ad environment.
environment cutting view
He has experience running a media conglomerate, and that carries a lot of weight.
experience running media weight
We're talking about help wanted, real estate and automobile advertising. They've developed zoned advertising, the addition of color so they can retain their retail advertisers, as well as the addition of special sections. All of these factors have been very advantageous to them to develop advertising and also to retain advertisers and charge higher prices.
real color talking special advertising
I think the stocks are moving higher on two fronts. One is obviously an anticipation of some sort of announcement from the FCC. Secondly, I think it's broadly in response to the Fed rate cut, as it relates to advertising and the improving economic picture in the second half of this year.
anticipation moving improving advertising picture
We have met with a number of the FCC commissioners and they've indicated that this deal should go through, so I don't think there is going to be a holdup from the FCC.
We think the revenues were in line or perhaps a little better than the Street, which is attributable to the deceleration of declines in radio revenue and improving outdoor advertising revenues.
improving advertising radio
Hold. While likely to grow faster than its peers, we forecast a deceleration in revenue growth.
growth grow
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