Focus on Entertainment Stocks
Spotlight on Walt Disney Co.: Following reports that Euro Disney had posted a net loss of $905 million in the fiscal year ended Sept. 30, Chairman Michael D. Eisner acknowledged that the European theme park’s performance has been “dreadful†and said the huge loss was the “first real financial disappointment†of his nearly 10-year tenure at Disney. The possibility of closing the park has not been ruled out, but such action would probably not be taken until at least late spring.
Major Properties
* Movies: “The Nightmare Before Christmas,†“Tombstoneâ€
* Cable: Disney Channel
* Television: KCAL-TV, Los Angeles; “Home Improvementâ€
* Theme Parks: Disneyland, Walt Disney World, Euro Disney, Tokyo Disneyland
Financial Data
* Market capitalization: $23.0 billion
* Cash: $363.0 million
* Borrowings: $2.4 billion
* 1993 revenue: $8.5 billion
* 1993 profit: $299.8 million
* Earnings per share: $0.55
Industry Performance
Stock prices for key entertainment companies for Jan. 3, in dollars and cents:
FILM, MUSIC
52-wk. 52-wk. Volume Mon. Daily high low Ticker Mkt. Company in 000s close chg. 1.75 0.50 CRC N Carolco Pictures 154 0.63 +0.06 7.50 3.50 DCPI O Dick Clark Prod. N/A 6.50 None 47.88 36.00 DIS N Walt Disney Co. 1,376 43.13 +0.50 15.00 6.75 SG A Samuel Goldwyn 1 11.13 None 43.75 31.75 KWP N King World 168 37.63 -0.75 141.50 87.00 MC N Matsushita N/A 134.75 -0.25 26.00 11.50 NLN A New Line Cinema 69 25.75 -0.13 63.25 36.00 NWS N News Corp. 446 52.00 -0.75 9.50 2.00 ORPC O Orion Pictures 56 6.75 -0.25 83.50 42.13 PCI N Paramount 778 78.25 +0.50 40.13 23.25 PLG N Polygram 122 39.38 None 14.50 6.75 RPICA O Republic Pictures N/A 12.75 +0.13 22.00 14.75 SPEI O Savoy Pictures 62 20.38 -0.63 50.63 32.00 SNE N Sony Corp. 39 50.00 +0.13 10.38 4.75 SP N Spelling Ent. 35 9.75 -0.25 46.88 28.75 TWX N Time Warner 913 44.13 -0.13
52-wk. % chg. P-E high YTD ratio 1.75 -33.3% N/A 7.50 +62.5 15.0 47.88 +0.3 23.0 15.00 +11.3 N/A 43.75 +11.9 14.0 141.50 +44.9 78.0 26.00 +85.6 36.0 63.25 +27.6 16.0 9.50 +184.2 N/A 83.50 +73.9 40.0 40.13 +62.4 23.0 14.50 +70.0 N/A 22.00 +20.7 N/A 50.63 +46.5 68.0 10.38 +56.0 31.0 46.88 +50.9 N/A
TV BROADCASTERS
52-wk. 52-wk. Volume Mon. Daily high low Ticker Mkt. Company in 000s close chg. 82.75 59.13 BHC A BHC Comm. 4 80.50 -1.50 643.75 476.00 CCB N Cap Cities/ABC 25 609.00 -10.50 326.50 186.13 CBS N CBS 37 283.00 -5.50 43.38 30.25 CCN N Chris-Craft 68 36.88 +0.25 107.00 80.88 GE N General Electric 1,285 104.00 -0.88 39.50 30.25 MMEDC O Multimedia Inc. 177 34.38 +0.13 22.50 12.00 SBTVF O Scandinavian N/A 21.00 None 61.25 48.00 TRB N Tribune Co. 155 60.13 None
52-wk. % chg. P-E high YTD ratio 82.75 +34.2% 12.0 643.75 +19.9 23.0 326.50 +50.5 14.0 43.38 +16.6 9.0 107.00 +21.6 18.0 39.50 +5.8 16.0 22.50 +36.6 N/A 61.25 +25.3 26.0
CABLE
52-wk. 52-wk. Volume Mon. Daily high low Ticker Mkt. Company in 000s close chg. 20.13 13.63 BTV N BET Holdings 5 19.50 -0.25 42.25 17.50 CMCSA O Comcast Corp. 489 34.50 -1.88 15.00 8.75 FAL A Falcon 24 13.75 -0.13 29.00 18.00 GET N Gaylord 20 28.00 -0.13 15.38 4.13 HSN N Home Shopping 185 14.63 -0.25 25.13 13.63 FAM N Int’l Family Ent. 65 19.25 -1.50 32.00 12.50 LBTYA O Liberty Media 439 28.00 -1.13 11.00 6.63 PLA/A N Playboy Ent. 7 11.00 None 73.00 37.00 QVCN O QVC Network 664 39.50 +0.25 30.13 18.50 TCAT O TCA Cable 147 27.63 -0.88 33.25 17.50 TCOMA O Tele-Comm. 2,176 29.50 -0.75 29.75 19.38 TBS/A A Turner 4 27.50 +0.25 67.50 37.13 VIA A Viacom 16 48.75 -0.13
52-wk. % chg. P-E high YTD ratio 20.13 +43.1% 30.0 42.25 +78.1 N/A 15.00 +42.9 N/A 29.00 +36.6 79.0 15.38 +77.3 N/A 25.13 +37.5 27.0 32.00 +121.8 N/A 11.00 +49.2 N/A 73.00 +1.6 27.0 30.13 +28.5 37.0 33.25 +38.8 N/A 29.75 +28.7 125.0 67.50 +10.8 38.0
MOVIE EXHIBITORS, VIDEO DISTRIBUTORS
52-wk. 52-wk. Volume Mon. Daily high low Ticker Mkt. Company in 000s close chg. 14.88 5.75 AEN A AMC 3 13.38 -0.13 34.25 15.75 BV N Blockbuster 634 31.00 +0.38 20.75 12.88 CKE N Carmike Cinema 3 17.75 -0.25 3.75 1.13 CPX N Cineplex Odeon 23 2.75 None 41.50 28.13 H N Harcourt General 135 35.75 -0.50 3.00 1.63 LVE N Live Ent. 14 2.38 None
52-wk. % chg. P-E high YTD ratio 14.88 +114.0% 18.0 34.25 +65.3 32.0 20.75 +24.6 12.0 3.75 +57.1 N/A 41.50 +8.7 17.0 3.00 +26.7 N/A
Key: N--NYSE; A--AMEX; O--NASDAQ
Sources: Associated Press, Walt Disney Co., Bloomberg Business News
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