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Technology Stocks : America On-Line (AOL)
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To: JDN who wrote (37709)1/19/2000 7:36:00 PM
From: Sonny McWilliams  Read Replies (2) of 41369
 
JDN. I just listened to Bob Pittman's interview on CNBC. You were right. He did not say that the combined entity would reach a growth rate of AOL's 50% and higher.

It had been mentioned sev. times on CNBC that he had mentioned that combined 50% growth rate. Steve Case said in his CC today that they are expecting about a 30% growth rate for AOL/TWX. Steve Frank on CNBC again talked about this 50% growth rate this evening. So Bob Pittman came armed with that prev. interview. Good thing. Sue asked him about this discrepancy. gg. He said that when he was asked about the growth rate of a combined entity and if they could reach AOL's growth rate, he told the interviewer that he had to determine that by himself. I only talked about that some of the components of the combined AOL/TWX deal would rise 50% or so, Mr. Pittman said.

Anyhow, Bob Pittman said something like: I see no reason why a combined 30% growth rate for AOL/TWX should be seen as a problem. After all. This is a better growth rate than Csco and Msft have and we are not near their valuations. He implied that AOL/TWX is not getting their place in the sun and thinks the stock price is undervalued. Not exact words. gg.

I am very surprised that CNBC did not check their prev. interview a bit closer. They have it in black and white. My memory is not what it used to be but when CNBC goes onto the airwaves, they should come def. more prepared.

Sonny
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