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To: Andrew N. Cothran who wrote (658)	10/26/1999 2:29:00 PM
From: Robert	Read Replies (1) of 6516

From the Yahoo thread "TV GUIDE, INC. (TVGIA - NASDAQ - $51 7/8) reported today, financial results for its third quarter ended September 30, 1999. TV Guide Magazine Group reported revenue of $154.4 million, bettering our estimate of $145.4 million by 6.2%. Magazine Group EBITDA was $36.3 million versus our estimate of $29.4 million. TV Guide Entertainment Group reported revenue of $22.9 million versus our estimate of $22.1 million, resulting in EBITDA of $1.2 million versus our estimate of ($2) million. The Entertainment Group generated $19.9 million in revenue in 3Q 1998 and $7.6 million in cash flow. We estimate that the decrease in cash flow year over year is a result of additional costs related to the redesign and re-launch of the “new” Sneak Prevue channel. United Video Group reported revenue of $133.5 million, a decrease of 8% versus the $145.5 million generated in 3Q 1998 and approximately $3 million less than our estimate of $136.7 million. We estimate that the decrease is a result of expected decreases in TV Guide's C-band business (We expect total Superstar/Netlink revenue to decrease 5% in 1999 versus 1998.). United Video EBITDA for the quarter was $15.4 million, a decrease of 52% from 3Q 1998 and approximately $4 million less than our estimate of $19.8 million. We believe the decrease in United Video EBITDA is primarily due to launch costs incurred by TVG Network. Total EBITDA for the quarter was $52.9 million, bettering our estimate of $47.3 million by 11.8%. TV Guide earned $1.3 million or $0.01 per diluted share for the quarter versus our estimate of ($1.9) million or ($0.01) per diluted share (Total results are not comparable year over year as the Magazine Group's results are not included in the 1998 period.)."

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