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Technology Stocks : Source Media SRCM

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To: Al's Fun who wrote (2233)	3/11/1999 5:18:00 PM
From: MW	Read Replies (2) of 3015

<<TV Guide up 21% by: mrboo56 9672 of 9672 TV Guide broke out today . Can we be far behind? <<http://www.multichannel.com/daily/3d.shtml >> Particular points of interest.. TV Guide Interactive becomes the EXCLUSIVE interactive program guide on TCI's digital- cable service TCI's programming subsidiary, LIberty Media, owns 49% of the equity of TV Guide. TCI President and Chief Operating Officer Leo J Hendry Jr. said in a news release that the selection was "a very easy decision for us" adding that TV Guide Interactive was "the best guide available to help the customer navigate the environment". So,what does it all mean. 1. TCI thru it's wholly owned subsidiary Liberty Media now owns 49% of TV Guides JV with SRCM. 2.TV Guide is depending on the EPG [eletronic programming guide] that it is liscensing from SRCM because in TCI's Leo Hendry words, it is the best navigational guide out there. I'm sure the fact that it blows away it's patent problem with Gemstar was also a MINOR[ chuckle ] consideration. 3. One would have to be a total idiot[ie. sun} not to realize the importance of the EPG to TV Guide Interactive, therefore you would think TV Guide would have to give up something very valuable to get them royalty free from SRCM for life. 4. They did. TCI invited SRCM to the party. They are now partners with TCI thru Liberty Media. SRCM will contribute what they do best, local content, while TCI/Liberty Media will provide cash, distribution[ CARRIAGE AGREEMENTS ] and the rest of the digital offering. SRCM will benefit from the revenues of the whole package. And to top it off the IT Network will now have alot of additional advertising to sell for TV Guide. Or are we to assume that TCI/ Liberty Media WON'T carry the products of a JOINT VENTURE that they own close to 50% off?? I could understand the short argument prior to the JV [though I totally disagreed with it I still understood it ] after all SRCM CLEARLY had to form some type of partnership in the industry to survive. To the extent that didn't happen it was a valid argument. BUT IT DID HAPPEN. CASE CLOSED. Short because you don't think the deal will happen ?? Bad bet. TV Guide HAS TO HAVE THAT EPG !!!! NO IF'S ANDS OR BUT'S ABOUT IT!!! Short because you don't think the JV will be big?? Bad bet. You're betting AGAINST TCI/ATT/LIBERTYMEDIA/NEWSCORP/MALONE/MURDOCH/HENDRY. And you're betting against them in a MEDIA JOINT VENTURE !!!! I hope even that arrogant cfa archer [ no I'm not angry Archer ] doesn't think he knows more than them. Regards; mrboo

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