U.S. Media Potentially Undervalued Companies

Reading International

Market Cap: US$50.9m

Focuses on the ownership, development, and operation of entertainment and real property assets in the United States, Australia, and New Zealand.

Arena Group Holdings

Market Cap: US$299.5m

Operates digital media platform in the United States and internationally.

Direct Digital Holdings

Market Cap: US$7.8m

Operates as an end-to-end full-service advertising and marketing platform.

Perion Network

Market Cap: US$437.0m

Provides digital advertising solutions to brands, agencies, and retailers in the United States and internationally.

Integral Ad Science Holding

Market Cap: US$1.7b

Operates as a digital advertising verification company in the United States, the United Kingdom, Ireland, France, Germany, Spain, Italy, Singapore, Australia, Japan, India, and the Nordics.

Sphere Entertainment

Market Cap: US$2.1b

Operates as a live entertainment and media company in the United States.

Atresmedia Corporación de Medios de Comunicación

Market Cap: US$1.2b

An audiovisual company, engages in the television, radio, digital and multimedia development, cinema, and events organization businesses in Spain and internationally.

MNTN

Market Cap: US$1.3b

Operates a technology platform that brings performance marketing to Connected TV.

Cumulus Media

Market Cap: US$2.4m

An audio-first media company, owns and operates radio stations in the United States.

SKY Perfect JSAT Holdings

Market Cap: US$398.1b

Provides satellite-based multichannel pay TV and satellite communications services primarily in Asia.

Cyfrowy Polsat

Market Cap: US$7.6b

Provides digital satellite platform and terrestrial television (TV), and telecommunication services primarily in Poland.

Taboola.com

Market Cap: US$1.0b

Operates an artificial intelligence-based algorithmic engine platform in Israel, the United States, the United Kingdom, Germany, and internationally.

comScore

Market Cap: US$30.7m

Operates as an information and analytics company that measures audiences, consumer behavior, and advertising across media platforms in the United States, Europe, Latin America, Canada, and internationally.

Advantage Solutions

Market Cap: US$508.5m

Provides business solutions to consumer packaged goods companies and retailers in North America, Asia Pacific, and Europe.

Ubisoft Entertainment

Market Cap: US$1.3b

Produces, publishes, distributes, and operates video games for consoles, PC, smartphones, and tablets in both physical and digital formats in Europe, North America, and internationally.

ITV

Market Cap: US$3.0b

A vertically integrated production, broadcasting, and streaming company, which creates, owns, and distributes content on various platforms worldwide.

AMC Entertainment Holdings

Market Cap: US$1.5b

Through its subsidiaries, engages in the theatrical exhibition business in the United States and Europe.

oOh!media

Market Cap: US$816.3m

Engages in the outdoor media, and production and advertising businesses in Australia and New Zealand.

Grupo Televisa

Market Cap: US$26.3b

Owns and operates cable companies and provides direct-to-home satellite pay television system in Mexico and internationally.

NetEase

Market Cap: US$729.9b

Engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally.

Liberty Broadband

Market Cap: US$9.0b

Engages in a range of communications businesses in the United States.

Tencent Music Entertainment Group

Market Cap: US$37.4b

Operates online music entertainment platforms that provides music streaming, online karaoke, and live streaming services in the People’s Republic of China.