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Technology Stocks : CDRD (CD Radio)
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To: Ken who wrote (130)6/16/1997 12:44:00 AM
From: david smith   of 904
 
Ken:
As I understand it, the licence that CDRD got is not for one new radio channel. If that were the case then you would be right about it being not at all special since all radio stations will probably convert to digital sometime. What CDRD got was a licence to broadcast on a frequency from sattelites. That broadcast will only be recieved by a special device that must be installed in radios. If the device is installed then you will be able to receive more than 50 channels. Possibly one hundred. It is equivalent to the cable coming into your home which carries not one TV station but up to one hundred. The CDRD band could carry every single baseball game in the country simultaneously and you would just tune in the one you want. If it works it is really pretty interesting. Of course there is lots of risk. For a start, people have to get these devices installed and they might just say why should I bother when radio is now free. People said the same thing about cable TV companies. You could have bought TCI or Viacom for pennies before it caught on.!!! That doesn't mean that the same thing is going to happen to CDRD but I think the prospect of that happening is why the company is getting all this positive attention.
As for the ability of CDRD to raise the money for the sattelite that is certainly another risk and I won't believe it till it happens. But I wouldn't bet to heavily against it because someone already gave them 85 million for the licence.
So I think that while the risk is real and the short side might indeed take home the trophy, this company should not be dismissed as readily as some people are suggesting.
Good luck.
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