The document provides an analysis of the U.S. TV households' reach by various companies, highlighting the impact of retransmission fees on broadcasters' revenue. It discusses the industry landscape, noting that retransmission fees are becoming a significant part of broadcasters' revenue, offsetting the decline in core advertising. The document also mentions the potential impact of cord-cutting on MVPDs' revenue and the entry of digital services into the distribution arena. The analysis concludes with a positive outlook for the High Yield TV sub-sector in 2018, recommending overweighting TV credits.
doj/DataSet10/EFTA01385425.pdf
{"title":"HY Corporate Credit - Media, Cable & Satellite","document_date":"2018-01-03","document_type":"tabular","key_organizations":["Deutsche Bank","ION","Tribune","Univision","Nexstar","CBS","Sinclair","FOX","NBC+TM","TEGNA","ABC","Hearst","EW Scripps","Raycom","Entravision","Meredith","Cox","Gray","Graham"],"reference_numbers":["DB-SDNY-0086709","SDNY_GM_00232893","EFTA01385425"]}