Table of Contents
Key Sector Views and Top Picks ............................................3
Key Investment Themes ..........................................................6
Secular Outlook — Telecoms..................................................7
Secular Outlook — Media ......................................................10
Price Targets...........................................................................11
Stock Investment Theses ......................................................12
Earnings Calendar..................................................................16
Key Telecom News and Research of the Week ...................17
Key Media News and Research of the Week........................24
Media: Audience Developments............................................26
Valuation: Multiples................................................................27
Valuation: DCF Valuations.....................................................29
Key Company Projections .....................................................38