Pink's Bottom Line on Media, Money and Sports
A new television network debuts, gasoline prices and the Masters golf tournament
In today’s newsletter, I discuss the debut of a new entertainment television network, gasoline prices and the Masters golf tournament.
MEDIA: New Television Network
TEGNA says Twist, which will run in most of the top 50 major television markets in the country including New York and Los Angeles, features lifestyle and reality programming.
Pink's Bottom LineTwist will be available free to air as a multicast channel. (Note: A local station can offer more than one channel digitally on the same signal — each of those additional channels are referred to as as multicast.)
It will be TEGNA’s third multicast channel — it already has launched True Crime and Quest.
The debut of Twist is also indicative that companies like TEGNA, which focus on local television, can now also create some national reach.
MONEY: Gas Prices
The average price of a gallon of regular gasoline rose by one penny last week to $2.87, according to AAA — that follows from a week earlier when gas prices actually declined for the first time since last November.
For some context, the current price of an average gallon of gas still is about 12 cents higher than a month ago and about 94 cents higher than a year earlier, according to AAA.
Pink's Bottom LineCrude oil prices, which drive gasoline prices, have fallen in recent weeks, so that has helped keep prices at the pump relatively stable in late March and early April.
However, should oil — and gas prices — pick up again, particularly as we are heading in to a traditionally strong summer driving season, that could cut into overall consumer spending.
As such, gas prices are worth watching closely as robust and sustained consumer spending is critical for a strong economic recovery.
SPORTS: The Masters Golf Tournament
The Masters golf tournament tees off this Thursday, just five months after the conclusion of the 2020 tournament.
Dustin Johnson won the Masters in 2020, which was held in November instead of April last year due to the coronavirus pandemic.
Johnson is the co-favorite to win the Masters again this year along with Bryson DeChambeau, last year’s US Open Champion.
Both Johnson and DeChambeau are +950 to win the tournament, according to FanDuel Sportsbook.
Pink's Bottom LineWhile both Johnson and DeChambeau should be near the top of the leaderboard on Sunday, I expect either Jordan Spieth or Brooks Koepka to win the Masters this year.
Spieth, who won his first PGA tournament in nearly four years yesterday, has not won a major since 2017 but he has been playing some great golf recently.
Koepka, who recently suffered a knee injury and hasn’t played in a tournament since the end of February, often plays his best golf in the majors — he has won four majors during his career.
Jeremy Pink is currently COO of Geniecast, a leading virtual content and experience company. He is the former CEO of private-equity backed Broadcast Sports International where he helped lead the company to a successful sale and exit during his tenure there. He is also a former CNBC television executive in New York, London and Singapore.
The information contained in this communication is strictly for general informational and entertainment purposes and is not meant to be construed as financial, investment, tax, or legal advice. This communication is not a solicitation to buy or sell any securities. I am not a financial advisor or offering professional advice of any kind. Users should not act upon the content or information found within this communication without first seeking professional advice appropriate for their individual situation. Decisions based on information contained in this communication are the sole responsibility of the user, and use of this communication and its contents constitutes an explicit understanding and acceptance of the foregoing disclaimers.
(Newsletter Editor: Karina Pink)