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6 million, or 55 cents per share in the same period last year MGM Narrows Second Quarter Loss Jul 29, 10:39 AM EST Film studio Metro-Goldwyn-Mayer reported a sharply reduced net loss for the second quarter Thursday on lower revenues during a period that saw only two small, but profitable, theatrical releases MGM shares fell 2 cents to $12 The studio is exploring a possible sale to Sony Corp The results beat estimates of analysts surveyed by Thomson First Call, who had expected a loss of 11 cents per share During the quarter, MGM paid a special, one-time dividend of $8 per share, financed by borrowings Shipment of DVDs increased 11 percent to 34 million during the quarter MGM, which also produces television shows and has significant income from one of the industry's largest film libraries, reported a net loss of $19 6 billion Revenue fell to $406 Those talks are ongoing and any announcement is still weeks away, according to studio sources who commented on the condition of anonymity 14 in midday trading on the New York Stock Exchange or Time Warner Inc MGM said its two theatrical releases in the quarter, "Walking Tall" and "Saved" would be profitable 7 million in the same quarter last year The studio, which also produced television shows such as "Stargate SG-1" and "Dead Like Me," reported net cash from continuing operations of $33 1 million from $487 7 million, or 8 cents per share, for the quarter ended June 30, compared to a loss of $133 The study showed that 38 percent of cable customers want to combine their cable TV service with some other product Study: Satellite TV Costs Trailing Cable Aug 19, 3:16 PM EST The average price of a satellite TV subscription this year fell below that of cable TV for the first time ever, according to a new study by J Power and Associates The push to bundle services, or putting multiple services onto a single bill, could also help cable Since 1998, the average monthly cost of satellite TV service is up 8 percent to $48 D D Power & Associates 62 During the same period, the monthly cost of cable surged 41 percent to $49 "Digital cable hasn't turned out to be the solution the cable industry needed to stem the tide of migration to satellite providers," said Steve Kirkeby, senior director of telecommunications research at J Much of that increase comes from the cost of upgrading networks and additional services such as digital TV, video-on-demand and high definition TV Instead, cable companies should focus on improving customer service, the study suggests The 2003 Residential Cable/Satellite TV Customer Satisfaction Study is based on responses from 7,340 U Both satellite broadcasters, DirecTV and Dish Network, received far better customer service ratings than cable operators S Yet despite the added services, satellite subscription is steadily growing, taking customers away from cable The report, released Tuesday, shows that the difference between average prices for cable and satellite TV "narrowed significantly" over the last five years households that evaluated their satellite or cable TV providers 93 a month |
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