UBS is holding a key media conference in New York City today, and CNBC’s Dennis Kneale and Trish Regan are at the conference interviewing media insiders about issues facing their industry.
Meeting of the Media Minds
"Right now, many of the entertainment companies are trading close to their historical low valuations, and there's a couple of reasons for that, we believe. One is concern about things in the coming year, like potentially weak advertising, how these companies can compete with the great 2007 on the film side, and concerns about the Writers' Guild strike, and also, investors are looking for where that next leg of long-term growth can come from."
- Michael Morris, UBS Media Analyst
NBC's Growth Strategy
"Our goal is to have a billion dollars in revenue by 2009, and we're well on our way to doing that. That's across the company, whether it's in film, television or theme parks, whatever. We're trying to grow both organically and through acquisition. Obviously, that began a year ago with the acquisition of iVillage, and we're continuing to grow organically as well, with things like the launch this year of CNBC.com."
- Jeff Zucker, NBC Universal President and CEO (NBC Universal, a unit of General Electric, is the parent of CNBC.com.)
Time Warner Cable Spinoff?
"The question is, whether it's good to be a vertically-integrated company any more. That was the theory about 20 years ago, that it was good to be vertically-integrated in content and distribution, so I think what's being debated now is whether that's still a good idea or not."
- Glenn Britt, Time Warner Cable Chairman and CEO
Following the Audience
"The media companies are looking, 'Where did our audience go? Where are people spending their time?' They're spending their time online, either playing games, on the Web, all sorts of different things, but really, they're trying to find out: how can they follow their audience better, away from traditional television?"
- Benjamin Schachter, UBS Analyst
"The advertising should rebound in 2008, because the political, as well as the Olympics, tend to lift the advertising market."
- Aryeh Bourkoff, UBS Vice Chairman, Telecom, Media and Technology Investment Banking