Numlock News: January 16, 2019

By Walt Hickey Liking Numlock? Forward today’s email to a friend you think may enjoy it and might subscribe. Debt The flurry of media consolidation has been touted as the established industry’s response to newcomers like Netflix as the streaming service spends a fortune on content. But even though Netflix is $10.4 billion in the hole — 6.2 times its earnings before interest, taxes, depreciation and amortization — that’s nothing compared to the conglomerates that have been throwing around billions to stave it off. Disney is in $54.0 billion of debt — 2.7 times earnings — after gobbling up Fox, Comcast is $114.7 billion in the hole after splurging on Sky, and AT&T (which bought Time Warner for $85 billion, shortly after it bought DirecTV for $49 billion) is the king here, owing

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