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Non-Tech : Auric Goldfinger's Short List -- Ignore unavailable to you. Want to Upgrade?

To: Kevin Podsiadlik who wrote (4584)	1/18/2000 8:07:00 AM
From: valueminded	Read Replies (2) \| Respond to of 19428

Kevin: Actually, I believe I got the detail correct. LBRT acquired technology from SourceSuite LLC (50/50 venture with insight) not source media. The shares are split between SRCM and Insight. Hence SourceMedia only gets 443,000 shares or about 90million by your valuation. Not enough to even pay off the debt. This may be why the shareholders are less than pleased. Please see quotes I have taken from the following news release. (Full text can be pulled up on news on scrcm on yahoo if interested) <SAN CARLOS, Calif., DALLAS and NEW YORK, Jan. 13 /PRNewswire/ --> "Source Media, Inc. (Nasdaq: SRCM - news) and Insight Communications Company, Inc. (Nasdaq: ICCI - news) today announced that the two companies have signed definitive agreements with Liberate Technologies (Nasdaq: LBRT - news) to sell the interactive television technology that is jointly owned by the two companies." "Under the terms of the transaction, Source Media and Insight will contribute their jointly owned VirtualModem(TM) software and all tangible assets and intellectual properties related to the VirtualModem business for 886,000 shares of Liberate common stock." " The Liberate shares will be distributed on a 50/50 basis between Source Media and Insight" Am I missing Something ?