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Technology Stocks : Metromedia International Group (MMG) Looking for Opinions
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To: TheSlowLane who wrote (240)6/6/1999 10:01:00 PM
From: Phil Flynn   of 353
 
I have just joined your group however, I have been reading the correspondence concerning MMG for several months. I bought in at four ($4) dollars and change this year and I believe that my purchase of MMG will most likely be the seminal moment in my financial life. Of course it will take courage, patience, and a little luck. Metromedia (MMG) has the potential to be big, really big.

However, here is some recent news. In an article entitled "Clever Kluge" Forbes Magazine will be printing on Metromedia (MMG) June 14, 1999 in the Money and Investment section. Analyst Frederick Moran of ING Barring, Furman, and Selz states that "the market is valuing Metromedia's communictions interest at only $4 a share, or at an absurdly low $280 million. Moran thinks they could be worth four (4) times that." Moran states that Snapper adds another $50 million net.

My math, based on the Forbes-Moran analysis would value MMG at sixteen ($16) dollars per share plus the value of Snapper on top of that.

Moran also states that "Metromedia's balance sheet shows $124 million in cash and only $50 million in debt, all tied to Snapper. Snapper, net of that debt is worth $50 million, Moran figures."
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