Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Paxson Communications (PAX) -- Ignore unavailable to you. Want to Upgrade?

To: eclamont who wrote (143)	9/9/1999 12:00:00 PM
From: Glenn Petersen	Read Replies (1) \| Respond to of 154

This strikes me as a fire sale. If 32% of the company is worth $400.0 MM, the remaining 68% is being valued at $850.0 MM ($400.0 MM divided by .32 minus $400.0 MM). Divide the $850.0 MM by 61,789,000 shares and you have $13.76 per share. cnnfn.com NBC may buy Paxson stake Report: GE unit in talks to acquire 32% of fledgling TV network for $400M September 09, 1999: 6:36 a.m. ET NEW YORK (CNNfn) - NBC is close to acquiring a 32 percent stake in Paxson Communications Corp., the operator of a fledgling TV network aimed toward family audiences, for $400 million, according to a report published Thursday. The Wall Street Journal said talks between Paxson (PAX) and NBC, a unit of General Electric Co. (GE), were underway Wednesday night. It said that although there's still a possibility a deal could fall through, NBC hopes to announce an agreement next week, just before the expiration of an exclusive two-week negotiation period agreed on by both companies. ÿÿÿÿ The Journal said a deal would give NBC access to Paxson's 73 stations, which currently reach nearly three- quarters of the U.S. population. In addition, NBC would also enjoy a greater cable presence, because systems in Paxson's markets are required to carry its stations. Exisiting federal limits on station ownership would prevent NBC from buying Paxson outright at this time, according to the Journal. But that stake could be raised if the Federal Communications Commission, which recently relaxed rules governing media asset ownership, further eases those limits. ÿÿÿÿ The report of a possible new media marriage comes only two days after Viacom Inc. (VIA), operator of cable networks such as Nickelodeon and MTV, announced it was acquiring CBS Corp. for $34.9 billion in stock.