Though haven;t looked at msgs on board, let me expand upon Ariella's point and reiterate a post i made a few weeks ago (is it that long??)
Portal - yes. Look at deal CBS's SPLN did with AMZN. Expect MKTW to so similar thing.
Content provider - yes. Hiring journalists from around the world vs Yahoo just posting somebody else's news.
Database/e-com - yes. Look at Schwab - buys briefing.com and now charges for earnings dates - and soon as they charge, quality goes down (disappointed). That said, I don;t like MKTW's way of displaying the info. Also, too soon to know accuracy of their earnings' dates. It appears they get the earnings date data from somewhere else, does anyone know?
Add to the above, DBCC which is strong in the corporate mktplace in:
- product (eg. BondEdge product which I have used and researched similar tools in a software selection assignment as a consultant)
- ownership - institutionally held
I have not read any recent posts nor do I know CBS's strategy, but the way I see it :
ABC - has SEEK, DIS
NBC - has ITVU (lesser known co), cnbc, msnbc, etc
CBS - has SPLN, MKTW, INSP?(infospace)
Above is broadcasters - now look at the cable co's, etc
As guidance to valuation, look what SPLN & INSP did, take 50% ownership for DBCC, then add 1.75 x ~$6 BV of DBCC, and you get at least $20. I posted this a few weeks ago. I tried to stay on the conservative to realistic side when I made that post. On a more optimistic side, DBCC's multiple goes to 2.5 w/o the IPO (synergy, more attractive co to own) and add 50% of say $40 (doesn't yet have all the features of a full IPO so, take SEEK as cheapest and discount SEEK's value by 25%) and you get total of $35. |
