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Technology Stocks : Source Media SRCM
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To: Smilodon who wrote (2738)7/29/1999 6:22:00 PM
From: MW  Read Replies (1) of 3015
 
archer;

first things first. It is now obviously clear that SRCM has been negoiating with other people as TV Guide was hardballing them. It is also obvious that Boylan shot his mouth off yesterday and there will be a price to pay for it. SRCM didn't like the deal TV Guide was trying to force on them and they went and found a better one. Apparently Insight isn't troubled by this so called patent problem.

Financially this is a better deal for srcm as the financial commitments both to source and the jv are the same however Insight is only getting warrents on 20% of srcm and at 20$ not the 14.25 that tv guide got. Also SRCM gets 50% of the jv.

<< So what do you think MW? Compare it to the TV Guide deal. I think we can both agree it is much better for SRCM than bankruptcy.>>

Bankruptcy has been your prediction, it was NEVER a concern of mine.
I think TV Guide would offer quicker distribution but after the way they handled their cc yesterday I'm happy to be done with them. Insight just raised a ton of money in their ipo and Michael Willner is very well respected in the industry. He supposedly has a great relationship with the folks at TCI and I believe discussions have already taken place between them and srcm.

It is amazing how Boylan could shoot his mouth off yesterday and less than 36 hrs later srcm inks a definitive agreement with Insight. Now tell me again how it was TV Guide who has been holding up the deal.
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