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Technology Stocks : THQ,Inc. (THQI)
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To: Steve Hufnagle who wrote (7635)8/23/1998 12:23:00 PM
From: Bleeker  Read Replies (1) of 14266
 
Wrestle your way out of this over the weekend: Broadcasting & Cable
magazine (it has a Wall Street bent rather than a tech twist) has a
cover story on the WCW and WWF federation money machines. The headline
reads: Wrestling the Money is Real. Excerpts from the Aug.17 story:

--Business is booming as WWF & WCF battle for cable supremacy.

--During past year ratings have increased 50% for wrestling.

--More than 40 million people have watched wrestling every week
(what is going on in this country? Am I out of touch or what?)

--Internationally WWF airs in more than 10 countries in 8 languages.

--The 2 wrestling orgs. combined gross well over $1 billion a year
in licensing, ad revenue, pay-per-view, syndication and sold out
arena sales, both U.S. & internationally.

Steve, I'm not sure if Farrell has announced a price target but it
would be significant if THQI expanded into Europe. The lead co.
in market share there is currently EIDSY, which is my favorite
holding right now. Take-over rumors have helped pummel EIDSY's
valuation by 50% in three months. EIDOS itself is looking like an
acquisition target with a trailing P/E of $1.02-1.09 (depending on
currency conversion.) & a P/E of 10. There were zero insider sales
when the company hit its 52-week high of $21 3/4 this spring & Tomb
Raider III (TRII sold more than 4 million copies last year) is
planned for this Fall. The comps. look easy with losses in the
April-Sept. period of last year and their best game line up. The
main negative has been who they'll acquire and how to finance the
deal.

Bleeker
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