Justin, Thank you for responding. Sorry I was not more informative.
The rumor is that Cisco is planning to bid in March on the analog TV spectrums for one or more of their customers. Unfortunately, I am unable to reveal my source (don't you hate people who say that), but it is IMO a reliable source.
I thought it was strange that CSCO would do the bidding. Other than having the re$ource$ to bid on multiple frequencies, I cannot figure out why CSCO would be a bidder -- A joint venture? John Chambers does have bold ideas for CSCO, but I can't connect this with any of CSCO's markets.
Paxson shares soar after report
Sinclair advances as well
By David B. Wilkerson, CBS.MarketWatch.com
Last Update: 4:19 PM ET Aug 11, 2000 NewsWatch
Latest headlines
WEST PALM BEACH, Fla. (CBS.MW) -- Shares of Paxson Communications rose 29 percent Friday after a published report underscored the value of the company's analog television spectrum capacity.
The stock (PAX: news, msgs) rose 2 15/16 to 13 3/16.
An article in The Wall Street Journal highlighted a potential windfall for the company that could result from the sale of its analog spectrum to wireless data providers and other bidders.
The Federal Communications Commission will soon be auctioning frequencies between television channels 60-69, as the industry prepares to switch to digital broadcasting by 2006. Paxson owns the largest group of television stations in the U.S.
Data providers could use channels 60-69 to transmit stock market information, or perhaps, at some point, offer high-speed Internet service.
The Journal reported that the estimated value of Paxson's analog spectrum is about $12 billion. But in a statement, Paxson Chief Executive Bud Paxson said he never gave the newspaper that figure.
Paxson says he never indicated any dollar value on the spectrum, and that -- as the Journal stated -- the company has yet to receive any offers for its spectrum.
General Electric (GE: news, msgs), whose NBC unit owns a 32-percent stake in Paxson, shed 1/4 to 56 3/4.
Sinclair Broadcast Group (SBGI: news, msgs), which also owns a large group of TV stations, rose 1 1/16 to 12 5/16.
cbs.marketwatch.com |
