On The Rock
Top Themes of the Week
Greetings fellow investors, in honor of Mother's Day, let us raise a toast to the resilience and ingenuity of mothers everywhere – qualities that are certainly reflected in the world of business and investing. This week's update features ambitious expansion plans and strategic shifts in broadcasting, all playing out against a backdrop of tech disruption.
NFL: Eyes on Private Equity
The NFL is exploring allowing owners to sell up to 30% of their teams to private equity firms. This move could inject significant capital into the league and alter ownership dynamics. However, the terms and implications remain uncertain, and decisions are expected in the coming months.
Diamond vs. Comcast (CMCSA): The Battle for Distribution
Diamond Sports, the owner of the Bally Sports regional networks, is taking a stand against Comcast in a dispute over distribution fees. In a message to subscribers, Diamond accuses Comcast of seeking higher fees that would increase costs for viewers. This highlights the tensions between content providers and distributors.
Formula E: Charging Up the US Market
Formula E, the electric racing series, is targeting the US as a growth area. With its lone US race weekend in Portland this June, Formula E is looking to capitalize on the popularity of electric vehicles and motorsport, mirroring Formula One's expansion.
Formula One (FWONA): Strong Performance and Financial Results
Formula One is enjoying continued success, with the recent Miami Grand Prix setting a new US TV audience record. Additionally, parent company Liberty Media reported a robust $553m in revenue for Q1 2024, underscoring the global appeal and financial strength of the motorsport.
NASCAR: Shifting Gears in Broadcasting
As NASCAR prepares for new media rights deals with Amazon (AMZN) and Warner Bros. Discovery, it is also adjusting its strategy. The 2024 season will see a rebalanced distribution of races between Fox Sports (FOX) and NBC Sports, with fewer races on each network. Adding Prime Video and TNT/Max in the mix signals NASCAR's effort to reach a wider audience.
