Yet another big Wall Street firm has decided it can do without an analyst focusing on pure-play radio and TV companies. James Dix is gone from Deutsche Bank, where he had been the primary broadcast analyst since 2005 (6/6/05 RBR #110), when he took over the seat occupied for so long by Drew Marcus, who moved to the investment banking side at DB. Dix had covered Entravision, Radio One, ACME, Beasley, Clear Channel, Entercom, Hearst-Argyle, LIN, Salem, Sirius and XM.
RBR observation: The pool of broadcast analysts just keeps getting smaller. With both radio and TV stocks so beaten up, many knocked down into penny stock territory, it is easy to see why fewer and fewer brokerage firms see any reason to spend money on covering the sector. Hopefully, that will improve at some point. For now, we expect other media analysts at DB to pick up a few of the pure-play radio and TV stocks.