Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Market Tracker who wrote (10259)	6/18/1998 2:47:00 PM
From: BelowTheCrowd	Read Replies (1) of 18691

MT, Based on several recent decisions, as well as their "unusual" takeover accounting, one could make a compelling argument for shorting DIS. I haven't done so yet, but did liquidate my long position (which did quite well for me over the years) just a couple of months ago. I don't have much faith in them at all. Much the same could be said for most media companies. Radio companies have been pretty much in the news around here recently, with Infinity (CBS) swapping stations with Jacor and getting some scrutinty in the local press. I haven't done much DD on those either, but it seems to me that the radio conglomerates are paying more for stations than the advertising revenue could ever realistically pay back. There may be some efficiencies to combining operations and syndicating over a large network of stations, but how big an advantage can that be? There aren't a whole lot of Rush L's or Howard Stern's to take over the nation's radio airwaves, are there? It seems like everybody is overly valuing ANY kind of media, wherever it can be found. Internets are just the most extreme example. It doesn't seem to make sense to me. mg

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