VIAB (Viacom Class B shares) formerly CBS Message Board

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

VIA 36.49

+1.1%

3:59 PM EST

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To: John M Connolly who wrote (2873)	11/8/1998 9:48:00 AM
From: Patrice Gigahurtz	Read Replies (1) of 4613

John: I think DirectTV (the Sat people) could be feeding via sat the CBS HDTV football signal to select retail outlets onto their demo HDTV sets ! But I don't think it's todays' Jet game in NY. Instead I think it's the three games later this year ? Anyway, I'd look into it by calling DirectTV and asking for perhaps a lists of retail stores that could be showing the pro football CBS games. Atlanta must have a DirectTV source somewhere ? Regarding the Fox IPO todays' Barrons had a nice write up about it. Did you read it (yet) ? If not perhaps you should as the numbers they present raise some questions for me. For example, they discuss cash flow which I assume is the same as EBITDA (whatever that is) ? Well they suggest that Time Warner's market cap (share price ?) is 16 times EDITDA compared to CBS' 14. But if you estimate CBS' '98 EDITDA (before restructuring costs) at say $1.3bill divided by perhaps (?) 685mill shares (?) isn't that at $30 equal to 15.8 times EBITDA ? I am a novice at this stuff so help me understand why on Oct 8th, 1998 CBS sold at perhaps less than 7 times an estimate of '98 EDITDA ? Where is it written in stone that share price times cash flow determines a companys' market cap (share price ?) ? John: Are you a Bond guy ? Did you notice that Time Warners' 2000 %7.95 corporate bond last sold at $102 1/4 ? That's what the latest Barrons indicates and they calculate a return of 7.8% Question: If I buy a TW bond at say $102 1/4 what do I get when it expires in 2000 ? Do I lose the extra $2 1/4 I paid for it ? PS: I have not bought a bond since since the '80 days of 14% money markets ! Which reminds me. Can that 16% be right for a TWA 2004 bond ? Does CBS bonds trade on a public exchange. I can't find them anywhere in Barrons. Does anyone know where and if CBS bonds trade anywhere ? Plus, remember. I am a lamb investor and don't know anything about making money on stocks. Thanks

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