Tag Archives: ITV

Apple's Done This Before. Can It Do It Again?

By Evan Niu, CFA, The Motley Fool

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There have been quite a few things that only Apple could have successfully pulled off. The ability to commandeer legally owned trademarks is on that list. Apple’s done it before — can it do it again?

The most prominent example of this was when Apple repurposed two of networking giant Cisco Systems‘ trademarks and made them its own. Both iPhone and iOS were once the property of Cisco. Apple famously unveiled the original iPhone in January 2007 without obtaining the rights to the “iPhone” trademark in advance, settling with the networker months later after the fact. However, Apple did ink a deal with the company over its use of IOS when it rebranded its mobile operating system platform in 2010.

The broader media has now taken to casually referring to the long-rumored Apple TV set as the “iTV,” even though iTV is also an existing recognized trademark that’s owned by British commercial television network ITV (uppercase “I”). In fact, when Apple first unveiled its first-generation set-top box for local streaming, it originally referred to the device as the iTV. Steve Jobs pointed out that this was just an internal code name, presumably due to some trademark issues.

Original Apple “iTV” unveiling. Source: Engadget.

A few months later, when Apple dropped the “Computer” from its name and unveiled the iPhone, it rebranded the device as Apple TV. In 2010, the company was rumored to be exploring a rebrand to iTV again, which caused a ruckus with the Brits. ITV Network said it has a very strong brand and has numerous registered trademarks, with exec Mike Large saying the network has “vigorously defended” its IP in the past.

There’s also the U.S.-based iTV Entertainment, which pre-emptively issued a press release roughly a year ago, warning Apple not to infringe on its trademark. iTV Entertainment noted that the ITV network appeared to have abandoned its U.S. trademark application in January 2012, and that ITV exec Paul Dale tweeted about being at Apple’s Europe headquarters.

iTV Entertainment hints that ITV Network may have inked a deal with Apple, saying the network “conspicuously” reversed its position and now denies it would take action against the Mac maker. iTV Entertainment is looking to finagle a license agreement.

Barring any official deals, Apple is unlikely to try to commandeer any trademarks these days. This is because Tim Cook is known to be a much more conservative leader that tends to play by the book, while Jobs was accustomed to simply willing things into existence. No other tech executive has been known to launch a breakthrough product that directly encroaches on legally owned trademarks, only to sort out the details later.

That’s just another way that Tim Cook differs from Steve Jobs. The only way that the rumored set is called the “iTV” will be if Cook scores the rights first.

Is Apple a buy? The Motley Fool’s senior technology analyst and managing bureau chief, Eric …read more
Source: FULL ARTICLE at DailyFinance

Should You Buy ITV?

By Royston Wild, The Motley Fool

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LONDON — The shares of broadcaster ITV  have steadily marched higher since the summer of 2012 and are currently up almost a quarter in the year to date against a 10% rise for the whole FTSE 100 index, just off a recent record peak of 132 pence.

The company has undergone extensive reshaping in recent years and last year delivered double-digit profit growth despite a subdued television advertising backdrop. Broker Liberum Capital has placed a 155 pence price target on the stock, suggesting the price still has further ground for gains.

Advertising revenues set to march higher
ITV‘s 2012 results released last month showed revenues rise 3% to 2.2 billion pounds, driving earnings before interest, taxes and amortization 13% higher to 520 million pounds.

The results were particularly encouraging, given the lack of growth in TV advertising, illustrating the strength of the firm’s online and content divisions. But even here the environment looks ready to improve.

Liberum said it expects pay-TV and broadband advertising spending to become much more aggressive as we approach the summer.

With BT Group ready to launch its Premier League portfolio, prompting a scramble among competitors British Sky BroadcastingVirgin Media, and Talk Talk, ITV should experience rising advertising revenues.

And with ITV continuing to build its share of the television advertising market — 2012 levels stood at 45.8% versus 44.7% in 2009 — and “real time” TV viewing rising over the period, the broadcaster’s structural drivers continue to improve.

Elsewhere, ITV‘s extensive cost-cutting program is set to match last year’s 20 million pounds of savings in 2013. And further savings can be expected further out as additional measures come to fruition, including the restructuring of its news operations.

The price is right
City analysts expect earnings per share to rise 11% in 2013, to 10 pence, before rising a further 7% next year to 11 pence.

ITV‘s shares currently change hands on P/E ratios of 12.9 and 12 for 2013 and 2014, respectively, below the wider media average of 13.6. I expect the P/E multiple to continue trending lower as earnings improve further out.

The broadcaster is also anticipated to continue building dividends, and analysts predict last year’s 2.6 pence-per-share payout to rise to 3.9 pence in 2013 and to 4 pence per share in 2014.

These prospective payments are represented by yields of 3% and 3.1% for this year and next, below the FTSE 100 average, but they are safeguarded with coverage of about 2.6 times for both years. A reading above 2 is considered the benchmark for splendid protection.

Bolster your investment income with the Fool
If you already hold ITV shares and are looking for more FTSE 100 winners to really jump-start your investment income, then you should check out this brand-new and exclusive report covering a multitude of other premium payers right now.

Our “5 Dividend Winners to Retire On” wealth report highlights a selection of tasty stocks with an excellent record of providing juicy shareholder returns.

Among our picks are top retail, pharmaceutical and utilities plays that …read more
Source: FULL ARTICLE at DailyFinance

Phone hacking victim's lawyer says hundreds of new victims discovered

British investigators have found hundreds more potential phone-hacking victims of Rupert Murdoch‘s now-defunct News of the World tabloid, a victim’s lawyer said Monday.

Lawyer Hugh Tomlinson made the announcement at Britain’s High Court during legal arguments related to the lawsuits against News of the World publisher News International. Tomlinson did not go into much detail, but hundreds of extra victims could translate into millions of extra damages for the UK newspaper company.

The phone hacking scandal has greatly damaged the reputation of the British tabloid press, which has been found to have hacked into the voicemails of celebrities, politicians, crime victims and others. Murdoch’s company has already paid millions of pounds in settlements, and a national outcry forced British politicians to promise action to make the medial more responsible.

At a court hearing Monday, a lawyer said journalists at The Sun newspaper — another Murdoch title — harvested data from a lawmaker’s stolen phone.

Lawyer David Sherborne said parliamentarian Siobhain McDonagh has accepted substantial but undisclosed damages from the newspaper after her cellphone was stolen from a parked car in 2010. Her text messages had later been accessed by The Sun, Sherborne said.

News International lawyer Dinah Rose acknowledged that The Sun was guilty of “serious misuse of her private information.”

The revelations of new victims came only hours after British politicians announced they struck a last-minute deal over press regulation, unveiling a new code meant to curb the worst abuses of the country’s scandal-tarred media.

The code follows days of heated debate over how to implement the recommendations of Lord Justice Brian Leveson, who held an inquiry that aimed to clean up a newspaper industry plunged into crisis by revelations of widespread phone hacking.

Victims’ groups have lobbied for an independent watchdog whose powers are enshrined in law but media groups have said that threatens press freedom.

The deal struck early Monday appears to be a complicated compromise.

“I think we have got an agreement which protects the freedom of the press, that is incredibly important in a democracy, but also protects the rights of people not to have their lives turned upside down,” senior opposition leader Harriet Harman told broadcaster ITV.

Unlike the U.K.’s widely discredited Press Complaints Commission, which barely bothered to investigate allegations of phone hacking before the scandal broke, the new regulator being proposed by politicians would be independent of the media and would have the power to force newspapers to print prominent apologies.

Submitting to the regulatory regime would be optional, but media groups staying outside the system could risk substantial fines if they get stories wrong.

And rather than being established through a new press law, which advocates of Britain’s media have described as unacceptable, the regulatory body would be created through a Royal Charter, a kind of executive order whose history stretches back to medieval times. Adding to the complexity, a law would be passed to prevent ministers from tweaking the system after the fact.

Harman acknowledged that the charter was “quite a sort of complex and old-fashioned thing” but said it “kind of more or …read more
Source: FULL ARTICLE at Fox World News

Broadcaster Accidentally Uses Assassin's Creed Image

It’s happened again.

After the BBC confused the Halo logo for the UN‘s and ITV used footage of ArmA 2 instead of stock war footage, it seems as if Danish news channel TV2 is the latest broadcast to confuse video games with reality.

To illustrate a story discussing conflict in present-day Syria, TV2 used an image from Assassin’s Creed depicting Damascus 720 years ago.

Continue reading…

…read more
Source: FULL ARTICLE at IGN Video Games

Is ITV the Ultimate Retirement Share?

By Roland Head, The Motley Fool

Filed under:

LONDON — The last five years have been tough for those in retirement. Portfolio valuations have been hammered and annuity rates have plunged. There’s no sign of things improving anytime soon, either, as the eurozone and the U.K. economy look set to muddle through at best for some years to come.

A great way of protecting yourself from the downturn, however, is by building your retirement fund with shares of large, well-run companies that should grow their earnings steadily over the coming decades. Over time, such investments ought to result in rising dividends and inflation-beating capital growth.

In this series, I’m tracking down the U.K. large-caps that have the potential to beat the FTSE 100 over the long term and support a lower-risk income-generating retirement fund (you can see the companies I’ve covered so far on this page).

Today, I’m going to take a look at one of the U.K.’s biggest television broadcasters, ITV  . After a very successful run recently, does it have the making of a retirement share?

ITV vs. FTSE 100
Let’s start with a look at how ITV has performed against the FTSE 100 over the last 10 years:

Total Returns

2008

2009

2010

2011

2012

10-Year Trailing Avg.

ITV

(50.6%)

31.7%

33.8%

(2.1%)

57.3%

10.7%

FTSE 100

(28.3%)

27.3%

12.6%

(2.2%)

10%

10.2%

Source: Morningstar. Total return includes both changes to the share price and reinvested dividends. These two ingredients combined are what make it possible for equity portfolios to regularly outperform cash and bonds over the long term.

ITV‘s average annual total return over the last 10 years has been almost identical to that of the FTSE 100, despite its recent outperformance, which has been the result of its post-2008 turnaround plan.

What’s the score?
To help me pinpoint suitable investments, I like to score companies on key financial metrics that highlight the characteristics I look for in a retirement share. Let’s see how ITV shapes up:

Year Founded

2004

Market Cap

5 billion pounds

Net Debt (cash)

(206 million pounds)

Dividend Yield

2%

Five-year average financials

Operating Margin

(12%)*

Interest Cover

2.8 times

EPS Growth

14.3%

Dividend Growth

(3.8%)*

Dividend Cover

2.8 times

*Caused by a 2.7 billion pound goodwill impairment in 2008, when the dividend was also canceled for a year.

Here’s how I’ve scored ITV on each of these criteria:

Criteria

Comment

Score

Longevity

ITV was only formed in 2004, but its parts are much older.

3/5

Performance vs. FTSE

Evenly matched.

3/5

Financial strength

Rising profit margins and net cash.

4/5

EPS growth

Decent growth.

4/5

Dividend growth

Rising payout but checkered history and low yield.

3/5

Total: 17/25

ITV‘s score of 17/25 shows that a few years of strong performance isn’t enough to score highly as a retirement share — companies with high scores have generally delivered many years of above-average performance, and often have much longer pedigrees than ITV.

To be fair, ITV is the result of a 2004 merger between regional broadcasters Carlton and Granada, both of which had been in business since the 1930s. ITV is also much leaner and more profitable than it was before 2008. Its recent full-year results showed that operating profits rose by 20% to 453 million pounds during 2012, thanks in part to a …read more
Source: FULL ARTICLE at DailyFinance

My Contrarian Picks Are (Still) Beating the Market

By Prabhat Sakya, The Motley Fool

Filed under:

LONDON — In September of last year, I wrote the article “My Contrarian Picks Are Beating The Market,” which article summarized the performance of my contrarian picks over the past year, noting that their return was around twice that of the wider market.

This was a learning experience for me — I had not expected to beat the market. Whenever you spot such an outlier, you are curious to learn more. Over a longer period of time, will the outperformance continue, or will there be a “reversion to the mean”? So I thought I’d revisit this topic in the following year to see how things have progressed.

So here is my update on my picks:

Tip Date

Company

Share Price Change, %

FTSE 100 Change, %

09/07/2012

Barclays

85.7

13.4

14/05/2012

Resolution

23.0

16.7

14/05/2012

First Group

(8.1)

16.7

29/12/2011

Barratt

171.6

14.6

14/12/2011

Fidelity China

26.5

18.9

05/12/2011

Admiral

36.9

14.6

05/12/2011

Inmarsat

48.2

14.6

05/12/2011

Kazakhmys

(38.3)

14.6

02/12/2011

BMW

25.8

14.9

23/11/2011

BSkyB

20.5

24.1

23/11/2011

Aviva

28.5

24.1

23/11/2011

BP

2.6

24.1

17/11/2011

ITV

84.2

17.6

17/11/2011

Vedanta

(12.0)

17.6

 

Average

35.4

17.6

In the original article, my picks’ performance was impressive: They were up 16%. They are now up by nearly 36%. My contrarian picks are continuing to beat the market, with a return that is double that of the FTSE 100. And if you add the dividend yield to these numbers, the outperformance is even greater.

Let’s focus on some of the best performers:

Barclays
Barclays  was the classic contrarian play. Take a situation where financials are seen as the most unloved, unwanted shares around. Throw in the eurozone crisis and then add the LIBOR rate-fixing scandal. It is a recipe for a share to be totally trashed. But contrarians know this is precisely the time to buy.

Since last summer Barclays has made an impressive comeback, nearly doubling in price. Chief Executive Anthony Jenkins is making substantial progress in sorting out its troubles. And the good news is: I see Barclays as a long-term investment that will continue to increase in price for many more years.

Barratt Developments
I remember a year ago that investing in homebuilders seemed out of the question. We were in the depths of the property slump, and there seemed to be no end in sight to the gloom.

Of course, this meant it was the time to buy rather than sell. Those brave enough to have bought Barratt Developments  then would, by now, have nearly tripled their money.

Could the shares increase further? Absolutely. You might be surprised to hear that, even now, Barratt is only at 20% of its all-time high.

ITV
So, no one’s watching TV anymore? Of course, people still are. The nature of television has evolved, with a wide variety of programming available from Sky, Virgin, BT, and Freeview.

But despite the naysayers, ITV  has been holding its own, and Adam Crozier‘s turnaround of the U.K. broadcaster is working a treat. The company still puts out hugely popular television, which ranges from “Downton Abbey” and “Coronation” Street to the “X Factor.” The shares have nearly doubled in value.

Foolish final thoughts
It’s been an exceptional year for contrarian investing. I can’t guarantee that 2013 will be anywhere near as good, but I am hopeful that contrarian investing will still produce decent returns.

If Ben Graham invented …read more
Source: FULL ARTICLE at DailyFinance

5 FTSE 100 Shares You Should Have Bought In February

By Alan Oscroft, The Motley Fool

Filed under:

LONDON — After January’s dramatic rise, the FTSE 100 settled into a steadier month in February, gaining 105 points to reach 6,381. The index of the U.K.’s biggest companies did pop its head over the 6,400 parapet on Feb. 20, but it has yet to close above that level.

A number of the FTSE 100’s constituents have soundly beaten the average during February, and some of them will surely go on to even better things. Here are five that have risen and might still be good values.

Legal & General
The insurance sector has been making a bit of a comeback, and Legal & General Group has done well along with the rest of it. The shares gained a relatively modest 5.3% during February to reach 160 pence, but that adds up to a rise of more than 30% over the past 12 months.

Full-year results are due next week, and they look like they should be good. The City is forecasting a 13% rise in earnings per share, and that puts the shares on a relatively modest price-to-earnings ratio of 11. There’s also a dividend yield of 4.7% expected, topping two previous years of dividend rises, and it’s likely to be about twice covered. There could still be more to come from the shares.

Rolls-Royce
Shares in Rolls-Royce Holdings climbed 8.7% to 1,028 pence, taking them up more than 25% over the past 12 months. Full-year results released on Feb. 14 showed revenue up 8% to 12.2 billion pounds, pre-tax profit up 24% to 1.4 billion pounds, and earnings per share up 22% to 59.3 pence. That resulted in an 11% dividend lift to 19.5 pence per share.

Since then, Rolls-Royce has announced a new $40 million contract to provide “equipment and related services to power the flow of natural gas through the Uzbekistan section of the Turkmenistan-China natural gas pipeline.”

Forecasts for 2013 put the shares on a P/E of 15.5, which is not high for a quality company, and there’s a further dividend hike expected to yield 2.1%.

Hargreaves Lansdown
ISAs, SIPPs, stockbroking — it has all added up to a great month for Hargreaves Lansdown, whose share price powered up a whopping 25% to 867 pence in February — and that’s on top of a strong year that has seen the price nearly double.

On Feb. 6, first-half results showed record revenue of 140 million pounds, up 24%, with pre-tax profit up 30% to a record 93.7 million pounds. The firm now has 30.4 billion pounds in assets under administration — and yes, that’s also a new record. Forecasts for the full year suggest a 25% rise in earnings per share, but that does put the shares on a prospective P/E of 28, which is about twice the long-term FTSE average. Many will see that as a bit pricey.

ITV
ITV shares had a good February, rising 8.2% to 124 pence. In addition, you …read more
Source: FULL ARTICLE at DailyFinance

Thunderbirds to Go Again!

Thunderbirds are set to go again, with ITV Studios planning to update the hugely popular 1960s children’s show.

According to Deadline, ITV is teaming up with New Zealand-based Weta Digital and Pukeko Pictures to produce 26 half-hour episodes of Thunderbirds Are Go!

As with the original series (and 2004 film that it inspired), the show will revolve around the efforts of International Rescue – which is made up of ex-astronaut Jeff Tracy and his five sons – to save those in danger.

According to the site, “The new series will be produced using a unique mix of CGI animation and live-action model sets while also paying tribute to the legacy of model locations from Anderson’s original.”

Continue reading…

Source: FULL ARTICLE at IGN Movies