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Covered Companies
Xinhua Sports and Entertainment - XSELXinhua Sports and Entertainment opened for trading on the NASDAQ in 2007 at about $11, and in pretty short order traded to its all time high of $13. From there, XSEL was all downhill. Xinhua Sports and Entertainment made a couple of mistakes in the early going. Armed with $400 million for acquisitions, XSEL went on a bit of a drunken media spending spree- acquiring everything it could and probably over paying a bit in the media arena. Xinhua Sports and Entertainment dove into print, radio, outdoor advertising, and TV in a major way. XSEL made the mistake of retaining a US based CFO with a bit of a shady past, and short sellers piled in with the help of some media hatchet jobs. In 2008 the management and the board of Xinhua Sports and Entertainment decided to change course and refocus on a core strategy. XSEL decided to divest itself of non-core assets, and focus all of its energies on becoming the premier provider of sports programming in China- Xinhua Sports and Entertainment decided to replicate the ESPN model in a country with a far bigger audience. Hence, it's difficult to provide a succinct forecast for top and bottom line growth. XSEL is selling off its non-core media divisions which is making the top line go down, and shoring up the balance sheet. By the end of 2010 Xinhua Sports and Entertainment expects to have divested itself of all its peripheral businesses, and be laser focused on the sports broadcasting in China. At this time, a full 90% of XSEL revenues are coming from advertising and broadcast, so the transformation is nearly mature, and numbers should start to improve from here.
Quote Data
Business SummaryXinhua Sports & Entertainment Limited engages in the production of television programs, the placement of advertising, the provision of advertising services, market research, and the publication of magazines with a focus on sports and entertainment in the People's Republic of China, including Hong Kong. It operates in three segments: Broadcast, Print, and Advertising. The Broadcast segment includes the sale of advertising and the production of content, as well as the distribution of programming through television and radio channels. It also offers media mobile value-added services to mobile phone users. This segment’s media platforms include Inner Mongolia Satellite Television, the Shaanxi Satellite TV Channel, EasyFM 91.5 of Beijing, and other radio channels. The Print segment sells advertising for, and provides management and information consulting services to the magazines Money Journal and Chinese Venture, and the newspaper the Economic Observer. The Advertising segment plans, creates, and places advertising for Web sites, television, print media, radio, campus billboards, and outdoor media, as well as online advertising sales; and provides marketing services, and research services on products, advertisements, and markets. Xinhua Sports & Entertainment Limited has strategic partnerships with Shanghai Camera Media Investment Ltd., China Radio International, and the Economic Observer. It was formerly known as Xinhua Finance Media Limited and changed its name to Xinhua Sports & Entertainment Limited in February 2009 to enhance its focus on sports and entertainment media. The company is based in Beijing, the People's Republic of China. Xinhua Sports & Entertainment Limited is a part of the Xinhua Finance Limited group.
Disclosure
MarketByte LLC has been paid a fee of $20,000 and 30,000 ADSs (shares) by Xinhua Sports and Entertainment for coverage of the Company.
Recent News HeadlinesThu, 02 Sep 2010 14:26:00 GMT [Indie Research] - An interesting story boosted Chinese advertising small-cap China MediaExpress by 6% on Thursday. Wed, 11 Aug 2010 15:33:00 GMT [Indie Research] - China MediaExpress took off on Wednesday after the company posted second-quarter net income guidance of between $27 million and $29 million compared to the $21.5 million consensus. Mon, 09 Aug 2010 10:24:00 GMT [PR Newswire] - Xinhua Sports & Entertainment Limited , today announced that, on August 5, 2010, the Company was notified by the Staff of The NASDAQ Stock Market LLC that it has not regained compliance with the minimum $1.00 bid price requirement set forth in Listing Rule 5450. Wed, 21 Jul 2010 17:04:25 GMT Tue, 20 Jul 2010 03:21:00 GMT [PR Newswire] - Xinhua Sports & Entertainment Limited , a leading media group in China, announced today that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2009 with the U.S. Wed, 14 Jul 2010 07:56:00 GMT [PR Newswire] - Xinhua Sports & Entertainment Limited , announced today that it has entered into an agreement to restructure the terms of its secured convertible loan facility with affiliates of Patriarch Partners LLC , a global investment firm based in New York. Thu, 27 May 2010 13:34:51 GMT Tue, 11 May 2010 00:00:00 GMT Mon, 26 Oct 2009 19:39:19 GMT |
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