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Technology Stocks : CDNow (CDNW)
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To: EddieMacG who wrote (1180)5/1/1999 8:09:00 PM
From: American Spirit  Read Replies (1) of 1465
 
Levin's language was more to the tune of a partial acquisition/large investment in CDNW. A day or two later he publicly denied TW having any interest in net takeovers. - That's when it clicked for me because I heard that kind of denial once before From Ted Turner many years ago about having "no plans to acquire MGM" just two days before he did indeed buy it. - Being in the entertainment industry I realized the extent of the competition between Warner Music/Universal,Sony and remembered Universal's announcement for their new CD e-sales site. - That is when I put it all together and realized that at the very least TW was going to be a major financial partner of CDNW, if not a complete buy-out. And better to buy it out now than wait until it's more expensive, or worse yet, for a competitor to buy it. - I was beginning to think I might be wrong when the stock started ramping up on a God-awful e-commerce day, and I realized there couldn't be any other reason. Earnings will probably be nothing to boast about. So what else could it be? Not a simple alliance (those happen all the time and don't get this kind of action especially in a down market) - So it has to be something bigger.

I also considered CDNW a relatively cheap stock anyway.
It had come down from 19 to 13 3/4 and I figured I could at least make a few points from it with a limited downside. But now my suspicions seem to be getting confirmed. We'll know soon.
Wouldn't it be sweet?
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