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Technology Stocks : CMGI What is the latest news on this stock?
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To: AmericanVoter who wrote (13105)9/25/1999 5:09:00 PM
From: ZenWarrior  Read Replies (1) of 19700
 
Here's my final #'s (final for today at least... LOL!):
I believe the GCTY sale price is about $100/share: 8.8 million shares of GCTY were sold for about 5.87 million shares of YHOO @ about $150/share. We're basically looking at $85/share gain ($15/share IPO cost basis) - 20% to profit partners = 68/share - taxes = 41/share. 41 x 8,772,356 = 360 million gain. Divide by 95.3 million or so shares outstanding (before AV purchase) = $3.77/share gain just from GCTY.
CMG Direct was sold to MSGI, and (from last quarter's 10Q: "On May 13, 1999, CMGI completed the sale of its CMG Direct subsidiary to Marketing Services Group, Inc. in exchange for cash of approximately $13.9 million and approximately 2.3 million shares of MSGI stock."
MSGI closed at 37 3/8, so that = $86 million in stock + 13.9 million cash = $99.9 million gain on sale. Subtract taxes, and it's about $60 million, or another .63/share
I BELIEVE ENGA will account for another $74 million - taxes = $45 million "gain on stock issuance", which equates to another .47/share gain. I'm still a little fuzzy on that, but I believe that is correct after getting further input from zBeachbum @ RagingBull's CMGIOT board.
Subtract (.30) loss from operating companies, add in some taxes which that loss would bring back in, and we're looking at a grand total of about $4.70/share!!.
ENJOY!
- Zen :-)
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