Media Firm Investing

[Packer16]

I am thinking of in some of the less levered radio and TV broadcasting firms but am hestitant due to their debt levels.  I know the assets are worth multiples of what they are trading for today but 2 have upcoming debt puts or rollovers and the debt of both are yielding in the 30 to 50% YTM.  I have burned by these types of situations in the past and have made out better by investing after the restucuturing versus before.  Has anyone been able to get comfortable these types of firms prior to re-structuring?  TIA.

 

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[arbitragr]

Too much flux going on in the media industry for my liking. old media vs. new media rah rah ...

[ExpectedValue]

I feel like the toughest issue here with media companies is normalizing earnings. It seems like a lot of them are losing ground to newer players.

[omagh]

Why not look at the ad agencies instead?  It's a cheaper call option on the upside from renewed ad spend.

 

-O

I am thinking of in some of the less levered radio and TV broadcasting firms but am hestitant due to their debt levels.  I know the assets are worth multiples of what they are trading for today but 2 have upcoming debt puts or rollovers and the debt of both are yielding in the 30 to 50% YTM.  I have burned by these types of situations in the past and have made out better by investing after the restucuturing versus before.  Has anyone been able to get comfortable these types of firms prior to re-structuring?  TIA.

 

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