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Technology Stocks : 360networks formerly Worldwide Fiber Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Herb Duncan who wrote (62)	3/23/2000 2:21:00 PM
From: AmericanVoter	Read Replies (1) \| Respond to of 125

HL:Rogers, Shaw plan major swap of cable assets, Internet alliance RELATED SYMBOLS: (BCE)(SJR)(RG) TORONTO, Mar 23, 2000 (The Canadian Press via COMTEX) -- A pivotal cable asset swap and Internet alliance announced today between two of Canada's biggest cable TV companies makes Eastern Canada the dominion of Rogers Communications and concentrates the power base for Shaw Communications in the West. Today's transactions are a signal that the former archrivals are uniting forces to prepare for future battles with telcom giants Bell Canada and Telus, Canada's two largest phone companies, in telecommunications, entertainment and Internet markets. ``These deals are going to redefine the cable and the Internet market landscape in Canada,' Jim Shaw, head of calgary-based Shaw, told a morning news conference. ``Both our companies will continue to emerge as strong regional players, interconnected by national fibre backbones and a common vision of our Internet futures.' Share prices for both cable giants shot up after the deal was announced. Shaw shares gained $4.35 to $45.50 on 41,000 shares traded at the opening of the Toronto stock market. Rogers class B shares gained $3.15 to $44.15 on volume of 208,000. Under the proposed deal, which is subject to regulatory approval, Toronto-based Rogers will swap its cable operations in British Columbia -- centred primarily around Vancouver -- in exchange for Shaw's cable operations in southern Ontario and New Brunswick. Shaw will pay $75.9 million for gaining 23,000 more subscribers. In addition: --@ Shaw has agreed to sell its nine per cent holdings in Montreal-based Cogeco Cable and Cogeco Inc. for $198 million. Rogers will pay $44 a share for about 4.5 million shares. --@ Rogers will sell to Shaw its interest in Canadian Satellite Communications for $94 million. That's four million shares at $23.50 apiece. --@ The companies will merge (at)Home Canada and Excite Canada into a national high-speed Internet portal. Cogeco, Rogers and Shaw already own a piece of (at)Home Canada. Rogers will own 51 per cent of Excite, Shaw 22.5 per cent and Excite(at)Home 22.5 per cent. U.S.-based Excite(at)Home currently owns 50 per cent of Excite Canada. Cogeco and Moffat Communications will also be invited to become partners. Jim Shaw said Excite Canada will begin with a broadband customer base of 500,000 high-speed cable modem customers, ``the largest customer base in North America to date.' --@ Rogers will invest $125 million for 49 per cent of a new ``Internet backbone' company involving Shaw and Vancouver-based 360networks. Earlier this week, Shaw made a major investment in the global fibre-optic network company. Ted Rogers, president and chief executive of Rogers, said when his company's proposed merger with Videotron goes through, the new deal will create a ``super-cluster' of about 3.5 million customers in Ontario and Quebec, all interconnected by fibre. Rogers will also gain more than 200,000 customers in New Brunswick. ``Rogers and Videotron and of course Shaw, are digital companies. We will create shareholder value by looking to the future and starting new digital businesses,' Ted Rogers said. ``It is with a great feeling of regret that Roger's Cable leaves British Columbia . . .we're absolutely confident that Shaw will be able to hold the torch high, as it is one of the best-run and most successful cable companies in North America.' Shaw Communications will maintain a critical mass of approximately 1.86 million subscribers. Rogers recently offered $6 billion for Montreal-based Le Groupe Videotron, Quebec's leading cable TV operator. Minority shareholders are to vote on the offer Monday. Claude Chagnon, head of Videotron, said today his company is ``delighted' by the Rogers-Shaw deal. ``This transaction makes the Rogers-Videotron merger even more attractive in creating North America's most clustered cable operation and adds extra value for the Videotron shareholders in its merger with Rogers.' The deal is another move by Rogers to bulk up as it prepares to tackle BCE Inc. and its Bell Canada unit. BCE chief executive Jean Monty recently concluded a deal to buy CTV Inc., Canada's largest private broadcaster, in a $2.3 billion move to use CTV's news, sports and entertainment content for its Internet and satellite TV companies. Claude Lamoureux, chief executive of the $65-billion Ontario Teachers Pension Plan Board, said the Rogers-Shaw swap ``makes sense for both companies, and I'm sure they will both be happy with this.' As for BCE, the telecommunications giant ``will do it's own thing,' Lamoureux said in an interview with ROBTv, a specialty business cable channel based in Toronto. ``We have a lot of time for Mr. Monty and what he's done so I'm sure he's not finished.' Copyright (c) 2000 The Canadian Press (CP), All rights reserved. -0- By Hollie Shaw (Public Company & Wall Street & Business & High Tech) A service of the Financial Data Cast Network (FDCN) and Window On WallStreet Inc.

To: Herb Duncan who wrote (62)	3/23/2000 2:36:00 PM
From: AmericanVoter	Read Replies (4) \| Respond to of 125

one can guesstimate based on some assumptions... TERN + ATHM + NPLI + Moffat + Cogeco + 360networks ... I agree, a lot of assumptions, but if one is conservative in all assumptions made, a price range could be reached... we know that 360networks offering is 44.6M shares with 793.99M shares post offering giving a total of 838.59 total outstanding shares... also, we know that the declared price range is 16--18... so, one can assume that SJR will own 50M shares... we also know that 360networks offering will be really hot... assume different values for it after the offering... say 50...75...100.... then one can get an idea on how much SJR should be really worth... if after doing all the math, one reaches a value of $100/share for SJR ... then it is well worth it to buy... if on the other hand the calculated value is say $10/share, then it is a different situation... best regards amein