Industry news:
March 26, 1999 09:43
An Imminent Comcast Takeover of MiningCo.com? 'Not Out of the Question,' says Renaissance Capital Analyst
SARASOTA, Fla., March 26 /PRNewswire/ -- Renaissance Capital senior analyst Ken Fleming told StockHouse.com, in a featured interview, that an imminent takeover of MiningCo.com (Nasdaq: MINE) is "not out of the question" and that Comcast "could be" considering MiningCo.com as a "top portal site, a flagship site."
Fleming's comments about a mix between cable companies and Internet portals suggests more acquisitions could be expected when, he said, "a lot of people look at the cable companies as a delivery mechanism for the Internet." Later in the StockHouse.com interview, he added, "It makes sense and the media names certainly add credibility to the Internet deal." When asked about additional acquisitions by major companies of Internet startups, Fleming responded, "They realize it's very difficult to do it yourself. So you have to get into the ones that are there already or you're going to get left behind." Fleming confirmed that there is a scramble for major companies to snap up Internet IPOs, helping to explain why there are such strong runups in the early days and weeks after an Internet company goes public.
Fleming warned of placing a valuation on companies that merge with the Internets, "I don't know if there will ever be traditional methods of valuing these companies. I think part of what could happen is when you start crossing the border with traditional companies acquiring Internet companies, that's when you get into dangers with valuation metrics."
Fleming favored two upcoming Internet IPOs, Priceline.com and Ziff-Davis Internet. He said, "I think Priceline.com is going to be just a phenomenal performer. I think Ziff-Davis is going to be a very strong performer, too." Renaissance Capital is a research firm that evaluates IPO properties.
View the interview online at stockhouse.com.
StockHouse Media Corporation is an Internet financial media information service company providing breaking news about North American stocks via their Internet publication, StockHouse.com. With over one-half million visitors per month, StockHouse has emerged as a leading, online, global financial content provider. A subsidiary, StockHouse Canada, is the #1 Canadian financial web site, where an estimated 11% of Canadian online investors conduct investment research. StockHouse maintains offices in the United States of America, Canada, and Australia.
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