Rich Greenfield, best know to SAI readers as the analyst who’s always laying into Time Warner (TWX) and Warner Music Group (WMG), isn’t always bearish. Today, for instance, Rich urges investors (reg. required) to buy two cable networks: Viacom (VIAB) and Discovery (DISCA).
In general, Rich argues, cable network advertising is quite strong, and he’s bullish about ratings increases at both companies. Most interesting to us: Rich’s prediction that Viacom’s Q4 domestic ad revenue recorded organic growth of 6.5%, which would be impressive in the face of weakening overall ad market. Also interesting: Rich’s worry that Viacom will screw up its core business (and share price) by chasing Web or video game properties.
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