Short takes on high yields


Most big cable operators are expected to see increases in cash flow this quarter in the midst of new services and about $80 billion in industry acquisitions. Industry sources said that a 12% to 15% cash flow is generally expected from the big players. The companies are still expected to post losses, however, as the costs for new systems and improvements continues to take a bite out of sales...

A consortium of 10 real estate investment trusts (REITs) are considering a joint venture that would enable them to provide telecom services to tenants of their office buildings. This comes on the heels of federal legislation that makes it easier for REITS to offer those services. If such a merger happens, it would increase competition for issuers like Global Crossing and Qwest Communications...

The U.S. Justice Department and the Federal Communications Commission are looking into undersea telecom systems, and considering anti-competitive measures. The measure could potentially unsettle the booming business...

The president and chief operating officer of troubled issuer Planet Hollywood unexpectedly resigned after only a year. But the company said that a plan is in place and is waiting for approval from the high yield bond investors. Auditors have expressed a concern over whether the company, one of the worst performing bonds of last year, is going to survive...

High yield issuer CLEC McLeod announced a two-for-one stock split in the form of a dividend. The date of record for the split will be July 12...

High profile junk issuer Cablevision Systems is reportedly close to reaching a deal where it would buy the New York Mets, ensuring that it would have baseball programming in the largest U.S. market. The price under negotiation is reportedly $500 million, which would be, by far, the highest price ever paid for a baseball team.