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Technology Stocks : Source Media SRCM
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To: Kevin Podsiadlik who wrote (2346)4/21/1999 9:20:00 AM
From: MW  Read Replies (1) of 3015
 
hey kev;

a little more education for you and your handy dandy calculator though I know this will fall on deaf and dumb ears..

<<So currently SRCM has 12.8 million shares valued in the market at $269 million. So, doing a rough figuring by adding the $200 million to SRCM's value, we have an implied value of $469 million for SRCM after the deal. Divided into 35 million shares that leaves an overall value of $13.40 per share, a drop of 35% in share value based on dilution alone.>>

TV Guide has warrents that when exercised at a cost of 200 million$ will give them a 40% interest in SRCM. Recharge your batteries. Any way you slice it that gives SRCM an "implied" valuation of 500 million$ That also "assumes"[and you know what happens when you assume] that TV Guide is paying "fair market value". In fact TV Guide is getting a very discounted value in return for bringing SRCM into the TV Guide/ATT/TCI/LibertyMedia/John Malone/Rupert Murdoch family.

So the real question is, if one could buy srcm on the same terms as Murdoch/Malone which I did a few weeks ago at approx. 15$[ not to mention the thousands of shares I own at 5$] why not take advantage? Well, the SMART money did and thats why the stock is back above 20..

For a talkative guy you're pretty quiet on the "details" of the joint venture. Don't you understand it or are you just having difficulty trying to "spin" it??

One other thing. The shorts have been circling since last July yet the stock price maintains a very nice level. Smarter shorts than you have come and gone yet you're still around. Getting a little lonely?
Are you gonna be the last idiot holding down the fort?

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