MIC Ride Home: NBC Adds Additional NFL Game; 1Q Record Label Market Share Affirms Earnings Commentary with Gain at WMG, Loss at UMG; TikTok Launches Ad-Free Subscription Plan in UK

Research evidence excerpt

MIC Ride Home: NBC Adds Additional NFL Game; 1Q Record Label Market Share Affirms Earnings Commentary with Gain at WMG, Loss at UMG; TikTok Launches Ad-Free Subscription Plan in UK

Media, Internet & Communications Daily May 11, 2026

TMT Research Guggenheim

GSTMTResearch@guggenheimpartners.com MIC Ride Home: NBC Adds Additional NFL Game;

Michael Morris, CFA 1Q Record Label Market Share Affirms Earnings michael.morris@guggenheimpartners.com

804 253 8025 Commentary with Gain at WMG, Loss at UMG; TikTok

Curry Baker Launches Ad-Free Subscription Plan in UK curry.baker@guggenheimpartners.com

804 253 8029

Charles Wilber RELEVANT, TIMELY OPINION, ANALYSIS AND NEWS FLOW FOR TMT

charles.wilber@guggenheimpartners.com INVESTING

804 335 3977

Taylor Manley Latest Research:

taylor.manley@guggenheimpartners.com

804 253 1336 FOXA: Morris notes events and core trends fueling momentum following F3Q earnings.

Grayson Glenn PRKS: Baker expects comps to ease going forward with leading indicators tracking

grayson.glenn@guggenheimpartners.com positive.

804 253 8053

NXST: Baker notes strong political and debt paydown in focus through year-end.

GENI: Baker updates model following 1Q earnings with core guide on track.

Ticker Price Rating

FOXA 62.94 Buy Key News Flow: CMCSA, UMG.AS, WMG, SONY, BX, TikTok, DIS, PSKY, WBD, META,

GENI 4.40 Buy GOOG/L, NYT

NXST 202.79 Buy

PRKS 39.22 Buy Upcoming Events:

May 26-27: Media Bus Tour (Los Angeles, CA) - Guggenheim Analysts Michael Morris

and Curry Baker will be hosting a series of meetings with company management and

thought leaders.

Please contact your Guggenheim Sales Representative for additional details.

LATEST RESEARCH - SNAPSHOT

FOXA: Morris - Events and Core Trends Fuel Momentum, New NFL Windows Indicate