Childrens Broadcasting (AAHS) Message Board

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Non-Tech : Childrens Broadcasting (AAHS)

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To: Secret_Agent_Man who wrote (6)	6/12/1997 10:52:00 AM
From: bob grossmann	of 30

AAHS has NOT sold their radio stations for $72 mill.!! They have a letter of intent from a company or group that no one ever heard of, that doesn't even seem to have a phone number in NYC (see Daily Variety, 6/9/97). The company expects a formal contract by August and a closing date in October. Apparently Global has to raise the money to buy the stations. In addition, once the sale goes through, AAHS receives $72 mill. (less expenses which may be significant) and has to pay or reserve for the payment of taxes. After taxes, existing debt and dilution from existing warrants and options, I calculate the compnay will have cash equal to around $8.20 per share. No one knows what the company's strategy would be then. Cash distribution? Share repurchase? Major acquisition? Also the company intends to vigorously pursue the lawsuit against Disney, which may factor in around the early part of '98 and may be very significant. Let's get our facts right!!! I own the stock and am a buyer, but not on the nonsense I read in Motley Fool or on this board Bob

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