Good Morning Media!

Research evidence excerpt

Good Morning Media!

Equity Research

Industry Update — May 19, 2026

Media

Our Call Steven Cahall

Good Morning Media! is our daily take on the relevant newsflow affecting the Media & Equity Analyst | Wells Fargo Securities, LLC

Steven.Cahall@wellsfargo.com | 212-214-8240

Cable sectors.

Omar Mejias

Equity Analyst | Wells Fargo Securities, LLC

More for less. SPOT has scrapped its Premium Lite tier across key emerging markets Omar.Mejias@wellsfargo.com | 787-370-9353

(India, Indonesia, Saudi Arabia, UAE, South Africa) and is instead lowering the Standard

subscription price. Previously, SPOT offered a three-tier premium pricing structure (Lite,

Standard, and Platinum) in the five markets. Now, the Standard tier will be priced at the

same level previously charged for Lite. Separately, SPOT raised its sub prices in CAN by

CAD $1.30-$3.00 per mo. based on the plan. (Sources: MBW)

Pay-walled. For the first time in 34 years, the UEFA Champions League final will not be

free-to-air in the UK, airing exclusively behind a paywall on TNT Sports / HBO Max. The

rightsholder, TNT Sports, also owns the rights for both the Europa League/Conference

League finals and will stream those matches in the same way. BT Sport/TNT will lose the

rights to all three finals in '27/'28, with PSKY outbidding for the Champions League and

Sky Sports getting the other two. (Sources: Yahoo Sports)

Prices going up. The FCC granted T a one-year waiver on its foreign-router restrictions,

allowing limited hardware changes to previously approved devices to avoid supply

disruptions. However, only minimal changes are allowed. The FCC will not allow any

performance improvements and foreign substitutions cannot replace domestic parts if

it would raise security risks.