VIAB (Viacom Class B shares) formerly CBS Message Board

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Technology Stocks : VIAB (Viacom Class B shares) formerly CBS

VIA 34.56

-0.9%

12:20 PM EST

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To: Patrice Gigahurtz who wrote (2647)	9/29/1998 8:12:00 PM
From: MGV	Read Replies (1) of 4613

quote.bloomberg.com Patrice, If it is free information just copy the address and post it here to facilitate answers to your questions on news articles. It saves all of us alot of time and contributes to the board. Thanks for pointing the article out. Key language: "Management indicated to me they are more comfortable with a lower estimate,'' Bodenchak said. ''Nineteen ninety-nine should be much better.'' Bodenchak also said the high cost the NFL contract will hurt cash flow in the second half. CBS spokesman Gil Schwartz said football is ''ahead of expectations'' in ratings and revenue. CBS last had an NFL contract in 1993. Last week, CBS won the prime-time ratings race, marking the first time since 1993 that the network has been No. 1 during fall premier week, when the networks tout their new shows for the season. Analyst Bodenchak trimmed his cash flow expectations for the third and fourth quarters. He reduced his third-quarter cash flow estimate to $306 million from $362 million, and his fourth- quarter estimate to $350 million from $395 million. Cash flow is earnings before interest, taxes, depreciation and amortization. ''The big numbers story will be in 1999, not '98,'' said Mark Greenberg, portfolio manager of the Invesco Leisure Fund, which owns CBS stock. Karmazin has said he expects the network to break-even next year. ''It's a difficult but not impossible task,'' money manager Haverty said. ''Evidence from the new shows indicates network is slowly moving into right direction.'' Bodenchak reiterated his ''outperform'' rating on the stock because he expects the company's restructuring and the planned initial public offering of its billboard and radio division to boost the company's shares to about 33 next year. He earlier had expected the stock to hit 42. Mark

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