VIAB (Viacom Class B shares) formerly CBS Message Board

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Technology Stocks : VIAB (Viacom Class B shares) formerly CBS

VIA 51.70

+1.7%

9:51 AM EST

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To: John M Connolly who wrote (2557)	9/18/1998 8:18:00 PM
From: Larry S.	Read Replies (2) of 4613

John, the whole market cap of CBS is 20.5 billion, so i don't think Infinity can be worth 22.5B. There is no indication yet of the number of shares to be offered, so we cannot really use a PE calculation based on the earnings. A more likely indicator is the promissory note of 2.5 billion that Infinity is to pay to CBS. Taking a wild stab that that 2.5 billion = the 20% of Infinity that will be offered, then the total value of Infinity might well be 12.5 billion (5 x 2.5 billion) or about half the value of CBS. This seems about right to me. Whatever the numbers, I think that this is very positive for the stock, both in terms of enhancing shareholder value, and perhaps making it easier for a takeover of the network. larrry

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