The cable industry, already basking in better profits and an improved advertising forecast--and even lower numbers of lost basic subscribers--has now been given the good news that brokerage house Goldman Sachs has hiked its rating from "neutral" to "attractive." The better feelings also extended to the satellite industry.
Almost mimicking the old saying "As General Motors goes, so goes the nation," a lot of the good feeling about cable was generated by the industry's leading MSO, Comcast (Nasdaq: CMCSA).
"Strategically, Comcast now has a commanding seat at the table in future content and distribution negotiations, as well as an important hedge against rising content costs and over-the-top video risks," Goldman Sachs noted.
For more:
- Reuters has this story
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