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Isn'r Sportsline the single best comp for Marketwatch? Sports fans have similar traits as market junkies, bith have similar tie-ins to larger sites, both have CBS as partners and benefit from CBS promotion. Sportsline, of course, is older, more established, has fewer competitors and has 60,000 paying subscribers. Its revenues are several times that of Marketwatch. Marketwatch has a better demographic - market junkies have more money, are older, etc than sports fans. Could make the case for either, but I wouldn't pay twice the amount of one for the other, would you? SPLN's market cap equates to $50 per Marketwatch share, a very healthy run up from a $16 IPO price. This would imply DBCC should trade at some discount to the implied price of 50 x .12 = 6 plus a very charitable 8 bucks for quotrek, signal and the other junk, or 14 bucks. A long way down from here, and it could happen very fast. Look out below. |
