Table of Contents
Key Sector Views and Top Picks ............................................3
Key Investment Themes ..........................................................8
Secular Outlook — Telecoms..................................................9
Secular Outlook — Media ......................................................12
Stock Investment Theses ......................................................13
Earnings Calendar..................................................................17
Key Telecom News and Research of the Week ...................18
Key Media News and Research of the Week........................26
Media: Audience Developments............................................30
Valuation: Multiples................................................................31
Key Company Projections .....................................................40