Industry Economic And Ratings Outlook: Economic Factors Support A Gradual Recovery In U.S. Advertising Jul 10
Standard & Poors, July 2010
Abstract
Standard & Poor's Ratings Services' base-case 2010 outlook for the U.S. media and entertainment industry is mixed across its many subsectors, based on the following fundamentals: A gradual economic recovery, handicapped by high unemployment; Dependence of ad spending on GDP growth and consumer spending; A prolonged downturn in most non-ad-supported subsectors that rely on consumer spending; and Weak credit markets and a volatile equity market. In the year to date, rating change trends have reversed from those of a year ago, and we have upgraded significantly more U.S. media and entertainment companies than we have downgraded. Those that were upgraded were mainly companies that obtained acutely needed refinancing or credit facility amendments, completed distressed tender offers, or, more recently, posted...
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- R.R. Donnelley & Sons Co.
- Gannett Co. Inc.
- Washington Post Co.
- Belo Corp.
- News Corp.
- Carmike Cinemas Inc.
- CBS Corp.
- Scholastic Corp.
- Omnicom Group Inc.
- Interactive Data Corp.
- American Media Operations Inc.
- Deluxe Corp.
- Sinclair Broadcast Group Inc.
- RentPath Inc.
- Manpower Inc.
- Allbritton Communications Co.
- Lamar Media Corp.
- Spanish Broadcasting System Inc.
- Valassis Communications Inc.
- The New York Times Co.
- The Walt Disney Co.
- Gray Television Inc.
- Iron Mountain Inc.
- LodgeNet Interactive Corp.
- Reader's Digest Assn. Inc.
- Salem Communications Corp.
- Cenveo Inc.
- Production Resource Group LLC
- The McClatchy Co.
- GateHouse Media Operating Inc.
- Live Nation Entertainment Inc.
- IAC/InterActiveCorp.
- Getty Images Inc.
- infoGROUP Inc.
- Cumulus Media Inc.
- Radio One Inc.
- Sirius XM Radio Inc.
- Nexstar Broadcasting Group Inc.
- Liberty Interactive Corp.
- The Nielsen Co. B.V.
- Priceline.com Inc.
- FTI Consulting Inc.
- Merrill Corp.
- Interpublic Group of Cos. Inc.
- Sabre Holdings Corp.
- American Reprographics Co. LLC
- Entravision Communications Corp.
- Dun & Bradstreet Corp. (The)
- Time Warner Inc.
- Media General Inc.
- NextMedia Operating Inc.
- Univision Communications Inc.
- The Sheridan Group Inc.
- Hanley Wood LLC
- American Achievement Corp.
- Canon Communications LLC
- Workflow Management Inc.
- Regal Entertainment Group
- LBI Media Inc.
- Dex One Corp.
- Knowledge Universe Education LLC
- Educate Inc.
- Bowne & Co. Inc.
- Visant Holding Corp.
- Warner Music Group Corp.
- Vertrue LLC
- Network Communications Inc.
- LIN TV Corp.
- Fisher Communications Inc.
- Affinion Group Inc.
- Harland Clarke Holdings Corp.
- Network Solutions LLC
- SGS International Inc.
- Deluxe Entertainment Services Group Inc.
- Viacom Inc.
- Caribe Media Inc
- CMP Susquehanna Radio Holdings Corp.
- Education Management LLC
- Koosharem Corp.
- Barrington Broadcasting LLC
- Expedia Inc.
- AlixPartners LLP
- West Corp.
- MediMedia USA Inc.
- Penton Business Media Holdings Inc.
- National CineMedia Inc.
- Cambium Learning Inc.
- Local TV LLC
- Bonten Media Group Inc.
- Advanstar Inc.
- Cinemark Holdings Inc.
- Catalina Marketing Corp.
- Cengage Learning Holdings II L.P.
- AMC Entertainment Holdings Inc.
- Orbitz Worldwide Inc.
- Laureate Education Inc.
- Prometric Inc.
- ProQuest LLC
- Local Insight Regatta Holdings Inc.
- Compass Group Diversified Holdings LLC
- Rovi Corp.
- Newport Television Holdings LLC
- Scripps Networks Interactive Inc.
- Bright Horizons Capital Corp.
- HSN Inc.
- FoxCo Acquisition LLC
- TWCC Holding Corp.
- CC Media Holdings Inc.
- Wallace Theater Holdings Inc.
- Discovery Communications Inc.
- Lions Gate Entertainment Corp.
- MDC Partners Inc.
- Language Line Holdings LLC
- ATI Acquisition Co.
- SuperMedia Inc.
- Quad/Graphics Inc.
- AutoTrader.com Inc.
- Bankrate Inc.
- Insight Global Inc.
Customers who bought this item also bought
All rights reserved. © Copyright 2013 Research and Markets WWW5
Terms and Conditions Privacy Policy Publishers Employment Opportunities Site Map Link to us Webmaster Affiliate Network
