Steve,
Any thoughts on PME, if you are permitted to speak your mind about the company that owns 19% of your employer, internet.com? As a shareholder, I would love to see Penton begin to meld its 42 disparate web sites into a kind of VerticalNet model. I feel such an effort might be extremely successgul.
I would also like to see PME exercise its option to acquire more of internet.com from Mr. Meckler. Can you elaborate on the terms of PME's option?
I also notice that Mario Gabelli and his affiliates own 19% of PME. Can you comment on whether he is actively working with management to unlock shareholder value?
Finally, I wonder whether, as an "internet analyst", you spend much time examining more traditional media companies, including mixed media companies such as PME, and how you see the value in this sector compared to the more "traditional" internet industry sector.
If the answer to the above question is yes, which among the more traditional media companies do you think are most effectively learning the "lessons" of the internet, taking advantage of its opportunities and responding to its threats, and which are your favorite media companies in this regard?
Regards,
Sam |
