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Strategies & Market Trends : Gorilla and King Portfolio Candidates
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To: JohnG who wrote (8748)10/24/1999 9:15:00 PM
From: NY Stew  Read Replies (2) of 54805
 
JohnG,

Corcoran left Stephens shortly after the report you have referenced. I am told that this deal was structured in a manner that suggests the sale of certain assets is planned.

Have you worked through this issue on some preliminary basis?

It makes no sense to me at this time until we know which assets are kept and which are spun off. Much of the recent valuation talk likewise makes little sense to me at this time. Henry acquired exclusive rights to the largest cable operator in the US market. TV Guide Interactive is currently adding between ten to twenty thousand new subs each business day. TV Guide Online is one of the fastest growing websites according to Media Metrix. (I recently made a few purchases there.)

Henry fights for every nickel during negotiations and I would find it uncharacteristic for him to overpay for anything. Murdoch, Malone and Henry have been battling each other for control of the IPG market for years. From Prevue, TV Guide, Gemstar International, Starsight and VideoGuide we now have TV Guide International.

Some have sold on the final acquisition of this consolidation phase and yet others have taken new positions. I never fault anyone for taking profits in what has been a great ride to date but I think they should have waited until the clear leader achieved at least 1% market penetration.

Regards
Stew





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