Steven Tananbaum: At Current Prices, Traditional Media Stocks Offer 'Great Opportunities'
In a preview, this Sunday's Wall Street guest Steve Tananbaum looked at the traditional media sector and highlighted that the selloff in the general sector – somehow related to Walt Disney Co (NYSE: DIS)’s ESPN’s poor performance – seems unjustified, especially when the trends and secular changes are taken into account.
Given the unjustified selloff, the investor added, GoldenTree Asset Management sees some “great opportunities” ahead.
So, broadly speaking, whether it is Time Warner Inc (NYSE: TWX) or even Tribune Media Co (NYSE: TRCO), Tananbaum remains positive.
He explained that through Tribune, “Something we know from the bankruptcy, and they basically split their publishing and their TV operations – and the TV is the operations we are focused on, we think it [...] is a great value today, relative to what it was called a month or six weeks ago.”
To conclude, Tananbaum said he continues to think traditional media still offers great value at today’s prices, despite the scare this summer from the surge of “cord-cutting.”
Check out the full interview on the an all-new Wall Street Week, airing Sunday morning, 9 a.m. EST.
Disclosure: Javier Hasse holds no stakes in any of the securities mentioned above.
Image Credit: Public Domain
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Posted-In: GoldenTree Asset Management Steven Tananbaum Wall Street WeekAnalyst Color Long Ideas Media Trading Ideas
