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Technology Stocks : Winstar Comm. (WCII) -- Ignore unavailable to you. Want to Upgrade?

To: Steven Bowen who wrote (3881)	2/20/1998 12:12:00 AM
From: Steven Bowen	Read Replies (1) \| Respond to of 12468

After 3 rounds, WinStar has the highest bid in the auction, at least in terms of $ per population. They're still just bidding on the area in the NY BTA not covered by the CVUS license. Price so far is only $3.36 per population (not channel pop). To get our value of $2.00 per channel pop, we'll have to see at least $23.00 per pop. May eventually get there, but at the pace they seem to be moving now, it may be a year.

To: Steven Bowen who wrote (3881)	2/20/1998 12:39:00 AM
From: MangoBoy	Read Replies (1) \| Respond to of 12468

<< FWIW, the number we've heard for years is that these licenses should be worth something around $2 to $2.50 per channel pop. Put those numbers into your calculator and see where we get. >> WCII market cap = $1.2B current channel pop valuation = $1.37 875M channel pops * $2.00/pop = $1.75B (+46%) 875M channel pops * $2.50/pop = $2.19B (+82%) fwiw: ARTT market cap = $210M current channel pop valuation = $0.56 375M channel pops * $2.00/pop = $750M (+357%) 375M channel pops * $2.50/pop = $938M (+446%) ARTT also has European licenses covering the entire populations of the U.K., Sweden, Norway, and Denmark. i don't have channel information at hand, but the total population is 77M. [c.f. artcorporation.com] mark