The ranks of Wall St. analysts covering media companies shrank by...
The ranks of Wall St. analysts covering media companies shrank by 2 in as many months as firms pared research because it’s less profitable than other investment businesses. In early May, longtime cable analyst Douglas Shapiro left Banc of…
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America Securities. Last week, Prudential Financial Senior Vp Katherine Styponias said she left after a decade because the company decided to stop providing stock research to investors. Styponias had covered cable and satellite companies; she and Shapiro declined to say where they next will work. Other analysts have told us that dwindling of publicly traded media companies has made stock research tougher by reducing investor demand for their work. Changes at securities firms have prompted other media analysts to switch companies while continuing to follow the industry. Longtime A.G. Edwards broadcast analyst Michael Kupinski left last month to work at Noble Financial, shortly before A.G. Edwards agreed to be sold. In recent years Cox, Insight and Univision have gone private, with Cablevision, Clear Channel and Tribune set to follow.