Roku’s stock was hammered on Monday, after Morgan Stanley put out a note to clients warning its share price is overvalued following a remarkable run this year.
Viacom has hired Morgan Stanley and LionTree to review its capital structure, a source familiar with the situation said on Wednesday, as the media company seeks ways to shore up its finances in the face of falling advertising sales. The review is a short-term assignment, said the source, who was not authorized to speak publicly about the matter and requested anonymity.
McGraw-Hill has begun shopping its four-station group and is said to be drawing interest from the likes of Nexstar, Meredith and Belo. Based on its financials for 2010 and 2011, the group is worth between $150 million and $200 million, although bidding and the expection of big revenue gains from political advertising in 2012 could push the number higher.