Summit Ridge Group - Valuation & Financial Consutling for Media Telecom and Wireless
Telecom, Media and Satellite
Valuation & Financial Consulting Practice
Intelsat – With Pressure on Video, the Worst is Yet to Come

Intelsat S.A (I), is trading at 3.9x earnings, is about to launch it next generation high throughput EPIC satellites which will dramatically increase capacity. It now trades at all time lows, down over 60% from its 2013 IPO. At first glance, Intelsat might seem like a buying opportunity, but greater downside, potentially even restructuring, awaits […]

Industry Data Shows FCC Overstated Mobile Traffic . . . and Spectrum Demand

While an industry White Paper on spectrum demand is being offered to support the accuracy of FCC’s spectrum demand projections used in its National Broadband Plan, the data actually shows just the opposite.[i] It is difficult to ascertain the exact numbers in the graphs in the paper. However, comparing the actual numbers in the FCC projections […]

2014 CTIA Wireless Industry Survey Suggest Maturing Industry

The CTIA recently released its annual wireless survey including 2014 results. This year’s survey is full of data suggesting a rapid maturation of the US wireless industry. Seven key data points: Annual Data growth slowed to 26%, growing from 3.23 trillion MB in 2013 to 4.06 trillion MB in 2014. This is the slowest data […]

Downstream Implications of AWS-3 Auction

While there has been extensive discussion about the AWS-3 auctions, there has been less discussion about the long-term industry impacts of the auctions: 1)    Upcoming 600 MHz Auction Prices – Higher transaction prices from the AWS-3 auction could imply higher prices for the 600 MHz auction. However: With the telecom industry spending ~$45B on the […]

New Draft Paper on Spectrum Demand Forecast Error

Aalok Mehta (PhD candidate at USC ) and I just finished a draft of a paper we are scheduled to present at the Telecom Policy Research Conference (TPRC) next month. The paper, “Overestimating Wireless Demand: Policy and Investment Implications of Upward Bias in Mobile Data Forecasts,” is about forecast error in demand estimates for spectrum. […]