S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Media

Watch Cable Stocks Rally (CVC)(CMCSA)(TWC)

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

The FCC wants to further regulate cable companies. The firms have too much power over what programming gets on the air. The big cable firms continue to expands though acquisitions. The monopoly power gives them control over what people see and how it is priced.

At least that is what the FCC says, and it uses an old law which says that once 70% of households that can get cable actually become subscribers it can increase regulation. Two weeks ago, it looked like a lock for the agency.

The fear of more regulation plus new competition has pushed cable stocks to one-year lows. Comcast (CMCSA) traded at over $30 earlier this year. On a good day its sees $20. Shares in Cablevision (CVC) and Time Warner Cable (TWC) have also been scalped.

But, it now appears that the FCC’s 70% calculation may be a bit off. And Republican Congressmen are all over the agency with concerns that regulation could become too heavy handed.

All of the fighting means that the FCC may not change its rules at all and its may not ask Congress for new laws governing cable. Even if it does, Congress may simply turn a deaf ear.

The odds are that cable shares are going to rally.

Douglas A. McIntyre

For more coverage of cable and other parts of the media industry, get the 24/7 New Media Newsletter.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Douglas A. McIntyre |

The Death Of Cable (CMCSA)(TWC)(CHTR)

The largest cable company in the US, Comcast (CMCSA), hit $30.18 last January. Mark that down. The shares may well…
Douglas A. McIntyre |

Regulating Risk Is Risky Business

“Certainly do not give a systemic regulator the job of determining when the next financial crisis will hit,”  Alan Greenspan said in…
Douglas A. McIntyre |

Bank Reform May Be Short The Votes It Needs

The healthcare reform package, the centerpiece of the Obama presidency, never made it though Congress, at least not in the…
NYDFS Adopts New Supervisory Fees Rule for Crypto Companies With Bitlicense
247patrick |

NYDFS Adopts New Supervisory Fees Rule for Crypto Companies With Bitlicense

The New York State Department of Financial Services has announced it has adopted new rules aimed at governing cryptocurrency companies…
Douglas A. McIntyre |

An Ombudsman For Credit Rating Agencies

The president of Portugal recently said that credit ratings agencies have too much power. The agencies’ comments have thrown Europe’s…
Under the Radar: The Supreme Court Decision Brett Kavanaugh Is Most Likely to Overrule
Paul Ausick |

Under the Radar: The Supreme Court Decision Brett Kavanaugh Is Most Likely to Overrule

William Galston of the Brookings Institution argues that if Brett Kavanaugh is confirmed as an associate justice of the U.S.…
Douglas A. McIntyre |

What Happens If Government Kills Comcast Deal for Time Warner? Nothing

What happens if the government kills the proposed combination of Time Warner Cable and Comcast? Cable service will remain poor.…
Web Companies, Public Interest Groups Plan Day of Action to Save Net Neutrality
John Harrington |

Web Companies, Public Interest Groups Plan Day of Action to Save Net Neutrality

Technology companies such as Amazon, Etsy, Kickstarter and Mozilla plan to participate in what is being called “a day of…
Douglas A. McIntyre |

Breaking The Banks With A New “Sin Tax”

Regulators in the US and Europe are still sifting through a variety of programs that would create a tariff on…

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618