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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?


To: Dealer who wrote (3759)9/26/2000 1:39:06 PM
From: Dealer  Read Replies (1) | Respond to of 65232
 
GMST--Morning Comments from SG Cowen
9/26/00
Source: SG Cowen
San Francisco, CA, September 26, 2000 9:00 PST

Gemstar-TV Guide International - Strong Buy
NWS/LMG stock swap would be a positive. News Corp. (NWS) may buy Liberty Media Group's (LMG; Strong Buy; $19) 20% interest in GMST to facilitate a potential purchase of Hughes's DirecTV (GMH; Strong Buy; $36). According to press reports, LMG would swap its GMST stake for shares in NWS. Swap should be positive for GMST, further cementing relationship with NWS satellite services. Separately, negotiations for distribution with US cable MSOs continue. Price target $95. Mkt cap $33B. GMST $72