DIRECTV on Upward Trajectory DIRECTV Group, Inc. (DTV) has vigorously grown its free cash flow and earnings over the last two years. It is now cutting churn-related costs, and raising the quality of its subscriber base by tightening credit standards. We believe the company is poised to sustain its strong revenue and earnings growth. The company is on track to roll out up to 150 high-definition (HD) channels in 2008 and 200 channels in 2009, which should continue raising average revenue per user and help stem decelerating subscriber growth as DTV overtakes EchoStar Communications Corp's (DISH) HD lead with twice as many HD channel offerings, while the cable companies are several years away from catching up, in our view. We think the HD roll out with the Regional Bell Operating Companies as partners, will defend DTV s market...
[read full story]
Your Web Site
