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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Madharry who wrote (23798)	4/21/2006 8:07:06 PM
From: E_K_S	Respond to of 78817

Hi Madharry - Peter Kosann was recently promoted to CEO for WON (Westwood One). He has been responsible for Network advertising since 2001 so it appears he understands what their customers want and are willing to pay for. I am still learning more about the company and the potential new advertising dollars that can be generated from this "non traditional" medium (I am impressed by Google's revenue growth!). WON is a "pure play" as a content provider. Peter Kosann was responsible for signing a contract to obtain a 6% interest in Webradio.com in 2000, so he has been around this emerging technology for awhile. Streaming audio takes on radio challenge By Eve Epstein May 19, 2000 1:01 pm PT From the article:"...Peter Kosann, a senior vice president at radio giant Westwood One, in New York, doesn't see the Internet bringing revolutionary change. "Do I think it's an emerging technology that's interesting? Yes," Kosann says. "Do I think it will do significant harm to terrestrial radio? No." However, Westwood One is hardly ignoring the Internet. The company recently entered a multiyear agreement with WebRadio.com, a subsidiary of GEO Interactive Media Group, in Woodland Hills, Calif. The agreement gives Westwood a 6 percent stake in WebRadio, which will offer discounted pricing and media sales such as digital downloads, CDs, movies, and video game sales. According to Kosann, Westwood was intrigued by WebRadio's technology, which allows listeners to hear audio without downloading a browser. That could be crucial at work environments in which employees are not permitted to download software onto a computer. Although the future of streaming audio is cloudy, the technology -- and its potential for profit -- is garnering some attention. ...". Madharry, it's hard to quantify the expertise of the CEO especially one that builds a business using non-traditional distribution channels like wireless & the Internet. CEO Eric Schmidt could not turn Novell around but seems to be doing pretty good as CEO at Google. As a value investment, WON seems like a low risk value play that could capitalize on the Internet growth. I also like that they produce the content and can sell it into these different distribution channels. I have been wrong plenty of times before so it is possible that this CEO could mess things up too. EKS