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Technology Stocks : VIAB (Viacom Class B shares) formerly CBS
VIA 52.63+4.3%3:59 PM EST
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To: John M Connolly who wrote (2599)9/25/1998 8:23:00 AM
From: Lawrence Petkus  Read Replies (2) of 4613
 
Hi John,

If they are unloading 70% of Telenoticias, somebody ought to get their fat salary wacked down by 70%, like Jordan. This is incredible. There is no excuse, whatsoever. This asset was part of the all new earnings generating strategy. Now the new is the same as the old- everything is just garbage to make wheeling and dealing middle men into millionares(strictly an opinion not based on fact: somebody makes big bucks in the process of turning over billions in assets), while the company and shareholders watch the smoke of Jordan spinning his wheels. Pathetic.

Considering the importance (in terms of future ad revenue growth) of the Spanish speaking population in the US and Central and South America, this stinks. They should have been able to do something more creative than giving control of this asset to another company (you state 70%). Remember the free trade pact: thousands of companies are making cross border profits and are positioning themselves to do this in the future.

I didn't see this information. Is it posted anywhere on the web? Perhaps there is a positive spin? Or is it just a another case of management failure? What are the financial details of this deal? What return was generated from the deal?

Lawrence
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