This was an excellent release. This disappointed nobody. Forget about "the market". This news was pleasant to all the new buyers. It was received well. I honestly don't know who sold as of yet, however, outside of the MM's or someone taking a little off the table, I doubt that there is any relation to our past problem of preferred's just selling into strength.
What I found to be significant is that in this release the other side had plenty of positive things to say. Furthermore, on October 5th Liberty Media announced that they will transfer their 86% in TCI Music to Liberty Interactive. In a short amount of time it will become apparent as to the depth of the relationship between Liberty Interactive and ACTV. This is from the Oct. 5th release-
"One of the first things that Masters said he will look at is TCI Music and interactive opportunities involving music, such as selling CDs.
"We've been working in the last year very much in line with the vision of Liberty Interactive," The Box president Alan McGlade said.
Liberty Media is publicly on record saying that Wink et al are nowhere on the radar scope. This is what an anonymous source fro m Liberty Media had to say about other companies-
"A source inside a Liberty affiliate company said the natural preference will be to work with Liberty Interactive, and not with an outside vendor, such as Wink Communications Inc. or ICTV.
"I wouldn't want to be a shareholder in any one of those companies," the source said. "Why would TCI, for example, work with them when they have Lee Masters building them something specific to their needs and working in concert with companies like us?"
Several weeks ago, in an apparent prelude to creating its interactive unit, Liberty acquired a 10 percent stake in interactive-program company ACTV Inc. for $5 million.
"We like the kiretsu of relations that exist within our family," one official with a Liberty-owned company said.
Liberty, armed with a $5 billion cash war chest from its sale of certain assets to AT&T Corp., will finance Liberty Interactive, the first mandate of which is to create enhanced-video content tailored to advanced-digital set-tops." |
