As per sources, if the historic Floyd Mayweather-Manny Pacquiao boxing match takes place on May 2, it will set new records for pay per viewing (PPV).
Time Warner Inc.’s (TWX) HBO and CBS Corp.’s (CBS) Showtime, which have joint telecast rights will battle out for viewership, which is expected to reach 3.25 million households generating about $300 million in revenues.
Rumors of a Merriweather-Pacquiao match have been making "the rounds" for five years now. Earlier, on a couple of occasions, the match came close to being materialized but somehow did not work out. However, May 2, this year is likely to bring the two legendary boxers together in what will be an ultimate face-off.
Moreover, this will be highest payday for the players as well. According to sources, out of the $300 million revenues generated, half will go to cable operators and other half will go to the boxers. In addition, there would be estimated $200 million prize money to be divided in the ratio of 6:4 between Mayweather and Pacquiao, respectively.
Also, the match will be held at MGM Grand in Las Vegas, which holds 17,000 seats. Tickets will be priced in the range of $1,000 to $4000 generating revenues of over $40 million, most of which is also likely to go to the players.
At present, both Time Warner and CBS Corp carry a Zacks Rank #3 (Hold).
Other Stocks to Consider
Other better-ranked stocks in the media/publishing sector worth consideration include The Walt Disney Company (DIS) and Gannett Co., Inc. (GCI). Both carry a Zacks Rank #2 (Buy).
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