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Technology Stocks : Aahh...iNEXTV (AXC) The NEXT Thing! -- Ignore unavailable to you. Want to Upgrade?

To: bootsup1 who wrote (3545)	4/28/2001 10:20:27 AM
From: Ed Perry	Read Replies (1) \| Respond to of 4169

All hypothetical. It could turn out to be not too pretty. One thing that will eventually have to die is the old Ampex and all the liabilities that go along with it. Although funds can be set up, eventually it will have to liquidate. Liquidation is a wonderful thing. It unlocks unrealized value. Bramson once talked about a figure of 4.50/sh as a fair and reasonable value for Ampex common. If Ampex debt was extinguished and Ampex assets consisted of iNEXTV and TV1 shares, then after the lock-up period, these shares could be sold and the proceed distributed to AXC common holders. Say 75MM of Ampex at 4.50/sh = 338MM and 338MM / 20MM shares (Ampex balance sheet holdings of TV1 and iNEXTV) would need a price of about 17/sh to do it. Here Bramson and everyone else gets 4.50/sh for AXC plus keeps any IPO shares in iNEXTV and TV1 purchased. Ed Perry