Analyst: Media Giants Must Be ‘Live, Large’ or Risk ‘Death’

Hollywood Reporter: MoffettNathanson analyst Michael Nathanson: “The media industry is now collectively trading at an 80 percent relative discount to the market multiple, which is the lowest relative level since 2008. However, we are not expecting to see a similar dramatic sector-wide rebound [as] post 2008 as we strongly believe this time is different. Instead, stock performance will diverge by the quality of content, brands and asset base.” His conclusion: “Either you are live and large … or dead.”