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Technology Stocks : Walt Disney

DIS 103.29

+1.3%

Nov 25 3:59 PM EST

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To: Glenn Petersen who wrote (2062)	3/8/2002 10:18:21 PM
From: Safe Cents	Read Replies (1) of 2222

Will Disney buy PAX tv (PAX:AMEX from GE/NBC...With the ongoing media consolidation what do you think about this Mr. Schwab...$22/share is what NBC said they would buy PAX for back when they took over 1/3rd of the station heavy powerhouse. Would like opinions on NBC's willingness to now buy the company. Also, could they pick up the company and simply sell it to an even higher bidder. (viacom, aol/timewarner, fox, etc.) Assets have been claimed to be worth $2 to $2.5 billion with about $1 billion debt on the books. This doesn't include stations they own between 61 and 69 that the federal government would like to auction and transfer to wireless use which will continue it's exponential growth rate. Estimates of the auction's potential revenue for PAX have been rumored anywhere between $1 billion and $15 billion. Some auctions in Europe brought in much more than expected. Paxson's ties with the current administration and Powell Jr. at the head of the FCC bode well for the company. Releasing the ownership caps was one promise that has happened so far. Programing, well it certainly is wholesome but is not what brings in major ad dollars, but that could be fixed quickly. AT $10.50/share this media play could be one of the stocks of the year. Looking for other's opinions. Thanks BBP ezydx

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