Good morning, Media Deals readers!
😬 Situational awareness: The New York Times swapped out today's Wordle word after discovering last week that the five-letter answer relates to Roe v. Wade.
1 big thing: Another busy earnings week
The (mostly) final week of media earnings kicks off with IAC and AMC Theatres today and ends with Disney on Wednesday.
Why it matters: Disney's streaming subscriber gains will be closely watched amid a broader Wall Street cooling on that industry's long-term outlook. For AMC, it's a chance for CEO Adam Aron to explain why a theater owner bought a gold mine.
- Even though it won't factor into the earnings results, AMC will be feeling pretty good about the summer movie season with the $185 million opening for "Doctor Strange in the Multiverse of Madness" over the weekend.
By the numbers: Both have seen their stock prices get hammered since the year began.
- Disney has lost $46 off its share price and is trading at $110.29, while AMC has seen its shares nearly cut in half, falling to $13.76 a share.
Be smart: During its last quarterly results, Disney+ had stronger than expected growth, which led to a pretty nice stock bump.
Yes, but: The past month has not been kind to Disney, as the Mouse House engaged in a political battle with Florida Gov. Ron DeSantis.
Other earnings we're paying attention to this week:
- Monday: Tegna reported before the bell. IAC (Dotdash Meredith) reports after the bell.
- Tuesday: Nexstar reports before the bell. The Trade Desk reports after the bell. Sony Corp reports overnight from Japan.
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