VIACA, VIAC - ViacomCBS

[MVP444300]

At $15 this was really a no brainer if i ever saw one.

 

Agreed I thought it was a no brainer at $12 per share; I dollar cost averaged in from $27 down to $12 per share with overall average around $27 per share. 

 

Any thoughts on its future from here with streaming growing at such a high rate of growth?

 

 

 

I have sold out of my entire VIAC position.  It just got too high above what I think intrinsic value is of the company.  Gonna have to pay short term cap tax on some of it.  :(

[CorpRaider]

Good little interview with Bob Bakish on Jack Hough's Barron's podcast here:

 

Many of the streaming/SAAS jargon phrases are employed in one paragraph to somewhat intelligible and persuasive effect...

 

 

[Mephistopheles]

Anyone buying with the Tiger Cub forced selling? We are at levels not seen since 2 months ago lol. Not too familiar with the industry but it doesn't look too bad on a valuation basis - like 10-12 x earnings or FCF.

[ANP301191]

Anyone buying with the Tiger Cub forced selling? We are at levels not seen since 2 months ago lol. Not too familiar with the industry but it doesn't look too bad on a valuation basis - like 10-12 x earnings or FCF.

I dont understand the sector either, but isn't the core business decaying fast? I dont get how people can afford umpteen amounts of streaming services either so I dont know how much value I put on the streaming business especially as they will probably have to lose money in the front end to get subscribers.

But I love the fact that its trading like a reddit stock - from 36 to 100 in the matter of 10 weeks - Roaring Kitty would be proud.

[shhughes1116]

Anyone buying with the Tiger Cub forced selling? We are at levels not seen since 2 months ago lol. Not too familiar with the industry but it doesn't look too bad on a valuation basis - like 10-12 x earnings or FCF.

I sold some puts.  Jan 2023 @ $40 strike for $11.50.  I'd be happy to buy Viacom again in the high 20's. 

Seems like we are going to end up with five or six big players in the United States - Netflix, Disney Plus, HBO Max, Peacock/Hulu, Paramount Plus and maybe Prime Video or Apple TV, and these services become the new "TV bundle".  I have a hard time envisioning a scenario where ViacomCBS does not own a substantive portion of the streaming pie.  I tend to think the smaller players (i.e. Discovery Plus, Showtime, EPIX) get rolled up into the larger services to provide additional scale and content.     

[CorpRaider]

Anyone buying with the Tiger Cub forced selling? We are at levels not seen since 2 months ago lol. Not too familiar with the industry but it doesn't look too bad on a valuation basis - like 10-12 x earnings or FCF.

I sold some puts.  Jan 2023 @ $40 strike for $11.50.  I'd be happy to buy Viacom again in the high 20's. 

Seems like we are going to end up with five or six big players in the United States - Netflix, Disney Plus, HBO Max, Peacock/Hulu, Paramount Plus and maybe Prime Video or Apple TV, and these services become the new "TV bundle".  I have a hard time envisioning a scenario where ViacomCBS does not own a substantive portion of the streaming pie.  I tend to think the smaller players (i.e. Discovery Plus, Showtime, EPIX) get rolled up into the larger services to provide additional scale and content.   

Ooh I like that.  I was looking at that convertible preferred, but it didn't really move today.

[Mephistopheles]

Anyone buying with the Tiger Cub forced selling? We are at levels not seen since 2 months ago lol. Not too familiar with the industry but it doesn't look too bad on a valuation basis - like 10-12 x earnings or FCF.

I sold some puts.  Jan 2023 @ $40 strike for $11.50.  I'd be happy to buy Viacom again in the high 20's. 

Seems like we are going to end up with five or six big players in the United States - Netflix, Disney Plus, HBO Max, Peacock/Hulu, Paramount Plus and maybe Prime Video or Apple TV, and these services become the new "TV bundle".  I have a hard time envisioning a scenario where ViacomCBS does not own a substantive portion of the streaming pie.  I tend to think the smaller players (i.e. Discovery Plus, Showtime, EPIX) get rolled up into the larger services to provide additional scale and content.     

I ended up selling a bunch of puts too. I looked at BABA, TME, DISC and settled on VIAC because the valuation is reasonable.

The premiums were so juicy and I am at 50% cash so it was an easy decision. I sold a $45 strike put expiring 4/1/21 for $2.75, and $40 strike expiring in Sept for $5.25. If I happen to get put the stock this week, I plan to sell some upside calls as I am sure the premiums will continue to be fat.

I like that they managed to issue $2.7 billion of common at $85, and convertibles that convert at $100 IIRC, just last week. So the real numbers are better than what the current balance sheet shows.  I also saw they signed a new deal with the NFL that will go to ~2031. Content library contain a whole bunch of movie classics. Streaming subscriptions are shooting up. And, the multiple is in the low teens so I feel like I have a decent cushion.

[CorpRaider]

I'm watching the NCAA tournament on Paramount + right now. 

[CorpRaider]

You probably saw this but it looks like Credit Suisse (still) has about 34MM shares to liquidate.  They are offering in a secondary (with a pretty tiny discount to close today).  Maybe something to watch tomorrow.  Also blowing out of $VIPS and a couple of others. 

[JayGatsby]

Anyone here still following? What's the bear case to the earnings report? Seems like things are working.