Good Morning Media!

Research evidence excerpt

Good Morning Media!

Equity Research

Industry Update — July 15, 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

For sale. LION is reportedly exploring a sale & has attracted takeover interest from Omar.Mejias@wellsfargo.com | 787-370-9353

Bolloré Group and Banijay Group. The Co has engaged an inv bank to evaluate inbound Wojtek Majerczak

approaches. Bolloré's interest is reportedly tied to expanding the production capabilities Associate Equity Analyst | Wells Fargo Securities, LLC

of Canal+, while Banijay, fresh off its combination with All3Media, has also considered a Wojtek.Majerczak@wellsfargo.com | 212-214-5480

bid. We believe there are more interested parties in LION & expect a competitive process. Christopher Pei

The companies haven't commented. (Source: Reuters, WFS, LLC) Associate Equity Analyst | Wells Fargo Securities, LLC

Christopher.Pei@wellsfargo.com | 212-214-5308

Das boot. VSNT's USA Sports acquired exclusive English-language US rights to the

Bundesliga through the 2030-31 season, adding more than 300 live matches annually

across the USA Network and Fandango. This represents the Bundesliga's first major US

media-partner change since ESPN acquired the league's rights for the 2020-2026 cycle.

VSNT's USA Sports has a growing portfolio of long-term sports rights, including the

WNBA, PGA of America, and DP World Tour. (Source: Reuters)

Squared away. A hearing between the 12 state AGs and PSKY will be heard by a federal

court at 10am PT on Friday. The states are pushing for the judge to rule by July 22, around