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Technology Stocks : USA/Lycos

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To: Joe E. who wrote (3)	2/9/1999 5:18:00 PM
From: Sam Citron	Read Replies (1) of 47

Mario Gabelli on USAI pre Lycos: I want to talk about two concepts in one company: USA Networks, stock symbol USAI. There are 330 million shares. The market cap is about $10 billion. It has about $500 million of debt. It's in entertainment and E-commerce. In the entertainment world, it's known by its chairman and CEO, Barry Diller -- one of the world's more gifted individuals, like Michael Jordan playing basketball, terrific in his area of expertise. They have the Sci-Fi Channel and the USA cable network. USA has about 73 million subscribers. Sci-Fi has approximately 54 million. USA will have cash flow in '99 of $250 million, maybe $275 million, growing at a double-digit rate. Sci-Fi is being reformatted, so it will lose a little money. But over the next three to five years, Sci-Fi and USA are a $750 million business. That alone is worth the market value of the entire company. You are getting everything else free. (from Barrons 1/18/99)

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