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Non-Tech : SPIN-OFFS "secret hiding places of stock market profits" -- Ignore unavailable to you. Want to Upgrade?

To: Spekulatius who wrote (834)	1/4/2006 10:26:46 AM
From: Stewart Whitman	Respond to of 1185

I agree with you that CBS & MTV are far better off separate. I'll sit back and watch for a while though. MTV trades at a P/E of 24 & CBS trades at 16. The NAV analysis on CBS looks attractive, but I've seen too many media stocks trade at discounts to NAV for long periods of time. And CBS looks like it's being heavily promoted by various brokers right now as a "safe stock for value investors". So far of all the media stocks, the one I am most interested in is still Discovery. It has generated growth internally. It looks like it should be a natural acquisition target & I suspect that Cox will be interested in selling. The question is when is the restructuring going to occur that will turn it into an operating co. rather than a holding co. Regards, Stew

To: Spekulatius who wrote (834)	5/25/2006 11:22:40 PM
From: Spekulatius	Read Replies (1) \| Respond to of 1185

CBS spinoff looks better and better - + Dividend increased 2 times + Sold Paramount Parks (accreditive to earnings) + consolidates UPN with TW network for cost savings + Plans to sell underperforming Radio stations + Reenergizes CBS news + beat earnings + 400M$ extra dividend from VIA/CBS demerger + Beat earnings last quarter Looks like everything goes in the right direction for CBS. CBS "pretty sister" VIA on the other hand is a dud so far. I have reduced my position but at the current valuation, i feel there is upside too.