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Article: Playing the upfronts. (Wall Street).(Morgan Stanley's Richard Bilotti )(Brief Article)
- Article from:
- Broadcasting & Cable
- Article date:
- April 21, 2003
- Author:
CopyrightCOPYRIGHT 2003 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Here's some advice from Morgan Stanley's Richard Bilotti on how stock investors can make money in the upfronts: In the months prior to the upfront selling, Billotti says, broadcast nets churn out positive news to drive ad pricing and their stock prices. But, he says, actual revenue is typically 3%-4% below levels indicated by the upfront headlines. "Accordingly, we ...