The filmed entertainment business has just gotten tough.
Monday Night Football is a television institution, if not a cultural institution, ... It's not unlike '60 Minutes' trying to go to '60 Minutes II.' It never really captured the audience.
It may be as new generations of moviegoers come along that this is the absolute best way for studios to capture additional dollars from these highly visible, highly successful products.
The biggest criticism against Disney is that it hasn't used strategic acquisitions to leverage franchises.
Historical studies would probably show you could get a 10-to-15 percent boost in revenue for the top film of the year, and it drops off precipitously from there.
Because ratings were down in a high-single digit level, concerns are about the up-front advertising market, which may be soft, perhaps more for ABC than others. I think analysts have gotten nervous.
There are just under 4 million shares short right now, so there's some pain out there for somebody.
There's a glut of sports programming out there. It's all going after male viewers age 18 to 49. To reach other demographics, you have to spread your buys around.
Management makes a very impressive presentation of taking this company and building what is arguably the last pure-play franchise in the filmed entertainment business. Certainly the chairman of the firm has a history of turning companies around, and there's no reason to think he won't do that here too.
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