This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Strike May Rewrite Stocks' Script

The upfront season usually costs the networks around $3 million to $5 million, but they bring in billions in ad buys. Networks are spinning the strike as an opportunity to break with the industry's traditions and do things differently. Conversely, the Los Angeles Times reported that "dozens of striking film and TV writers are negotiating with venture capitalists to set up companies that would bypass the Hollywood studio system and reach consumers with video entertainment on the Web."

If Wall Street was caught flat-footed by the writers' strike, it may reflect a lack of a sense of history. The last such strike occurred in 1988 and it went on for 22 weeks. The current strike has only been in place for seven weeks.

NBC's late-night comedy hosts Jay Leno and Conan O'Brien have agreed to return to the air on Jan. 2 with or without their writers, but that offers little hope of an overall resolution since both hosts were careful to express support for the guild.

Negotiations between the writers and the production companies have revolved largely around issues related to the distribution of movies and television shows over the Internet. Recently, guild demands for jurisdiction over reality TV and animated-film writers have also been a sticking point.

All the networks are expected to lean heavily on reality TV in January and February to fill their prime-time schedules. News Corp.'s Fox Broadcasting is especially well positioned with its smash hit talent show "American Idol" on tap. For its part, NBC will have reality shows on almost every night of the week, with shows like "American Gladiator" and "Celebrity Apprentice."
3 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
CBS $53.03 0.00%
DIS $121.12 0.00%
GOOG $631.21 0.00%
GE $25.87 0.00%
NWS $14.06 0.00%

Markets

Chart of I:DJI
DOW 17,598.20 -91.66 -0.52%
S&P 500 2,098.04 -5.80 -0.28%
NASDAQ 5,115.3820 -12.8990 -0.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs