USAI, 61% stake in Ticketmaster Online-CitySearch IPO Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : USAI, 61% stake in Ticketmaster Online-CitySearch IPO

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Mo Chips who wrote (24)	11/24/1998 3:06:00 PM
From: neverenough	Read Replies (1) of 391

Will Ticketmaster Online-CitySearch Be Next Internet Gem? - Report Newstraders - November 18, 1998 16:00 (NewsTraders.com)-- Ticketmaster Online-CitySearch Inc. will likely receive a very warm welcome from Wall Street when the company goes public on or around Dec. 7, according to a report* by Individual Investor analyst Adam Lowensteiner. Highlights: - The company is the product of an August merger between Ticketmaster's online division and CitySearch. The new company is well on its way to being the leading provider of local city guides, local advertising, and live event ticketing on the Internet. - Both Ticketmaster Online and City Search have experienced triple-digit growth in sales, and should continue that pace together. - Company is looking to price about 7 million shares between $8 and $10 per share through NationsBanc Montgomery. Following the offering there will be 70 million shares outstanding. - Underwriters are valuing the Internet company at $630 million, or about 20 times sales, assuming an average offering price of $9 a share. In comparison, eBay (EBAY) trades at 88 times sales, and Yahoo (YHOO) trades at 102 times sales. - Lowensteiner says look for Ticketmaster Online-CitySearch to open up no lower than $30 per share. - Company's CEO and CFO have Harvard MBAs, and entertainment mogul Barry Diller is a controlling shareholder as his USA Networks will still hold a 61.1% stake in the outfit. - One concern is that the company will have about $315 million in goodwill (as a result of the merger) on a pro forma basis on its books, representing 82% of the company's total assets. But its solid ticket business cash cow along with investors' euphoria with Internet stocks should keep Wall Street interested. * free signup required Copyright 1998 NewsTraders Inc. All Rights Reserved Wednesday, November 18, 1998 -------------------------------------------------------------------------------- usai ebay yhoo V%NEWSTRADERS P%NT go2net.newsalert.com; Title=Headlines%20for%3A%20usai%0A --------------------------------------------------------------------------------

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next