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Technology Stocks : Walt Disney -- Ignore unavailable to you. Want to Upgrade?

To: David Blomquist who wrote (1743)	7/12/1999 7:17:00 PM
From: Captain Jack	Respond to of 2222

David--- I just read where the POSSIBLE valuation of Infoseek at 80. Actually 69 X the 1.15 share diff.. It may be time to buy when it starts to rise (the whole sector went down today) but it too will soon be nothing but a trading issue as it is not likely they will be able to have a mess and a success,,, two messes is my guess...

To: David Blomquist who wrote (1743)	7/12/1999 8:25:00 PM
From: Chip Roos	Read Replies (1) \| Respond to of 2222

David: I think what happened today is that Wall Street is not impressed with the DIS purchase of SEEK and has concerns that a "net company" that is used to being run with an entrepreneural(spelling??) spirit won't mesh very well with a large corporate structure like Disney. I understand your frustration but as one who bought DIS a few months ago and really loaded the wagon last week, I will tell you that I love the fact that there are problems that are reflected in the price of the stock. Yes the price could drop a few more points but I really think the upside potential is much greater than the downside risk. I don't particularily like Eisner and think with Mr. Wells gone, there is nobody strong enough to keep Eisner's free spending in check. But Disney is a category killer with great brand names and is well diversified. With a bit of luck and hopefully a change in management strategies, this stock could fly. Who knows but you must admit that in today's market, it's hard to find too many companies of Disney's stature that are so undervalued relative to the overall market. Good luck and hang in there. Chip

To: David Blomquist who wrote (1743)	7/12/1999 8:26:00 PM
From: Captain Jack	Read Replies (2) \| Respond to of 2222

David--- Hold on the cry babies with a gift have called the vultures in,,, it will get cheaper before it gets over 70 IMO. Looking to buy but waiting. I guess they did not notice the whole sector fell today or their stock is up over 40% already on the RUMOR. I love it... we will get a bargain when the tears dry... Infoseek shareholders sue Disney By Bloomberg News Special to CNET News.com July 12, 1999, 4:00 p.m. PT WILMINGTON, Delaware--Disney was sued by Infoseek shareholders who contend the world's second-largest entertainment company's buyout of the Internet search company shortchanges other Infoseek stockholders. Disney said today that it will buy the 57 percent of Infoseek that it doesn't already own--valued at about $1.7 billion at today's market price--by swapping 1.15 shares in the new company, called Go.com, for each Infoseek share. That will give Disney a 72 percent stake in Go.com. In one of seven lawsuits filed in Delaware Chancery Court over the buyout, Infoseek shareholder Marvin Kotrin contends that Infoseek's board and Disney officials waited to do the swap until the value of the Internet company's shares dipped. "Disney timed the transaction to take advantage of the decline in the market price of Infoseek's stock," Kotrin said in the suit. "The defendants have breached their [legal duties] to Infoseek shareholders by using their control of Infoseek to force [Kotrin and other holders] to exchange their equity interest in Infoseek and deprive [shareholders] of the fair value to which they are entitled," the suit added. Disney and Infoseek officials weren't immediately available to comment on the suit. Kotrin is asking a Delaware judge to block Disney's acquisition of Infoseek and to award Infoseek shareholders unspecified damages. Such shareholder suits have become commonplace in the Delaware courts on the heels of the announcement of any large acquisition. They rarely impede the progress of a purchase, legal experts say. Disney formed its Go Network search directory with Infoseek in January to challenge rivals such as Yahoo and Lycos. Even though it's ranked as one of the top five sites on the Internet, the Go Network has been hampered by having two management teams and a lack of a clear focus, analysts have said.