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Technology Stocks : C-Cube -- Ignore unavailable to you. Want to Upgrade?

To: Don Dorsey who wrote (32980)	5/6/1998 3:39:00 PM
From: let	Read Replies (2) \| Respond to of 50808

What is the odds of that 2-3 point gain before next Friday Don? (as I have some options expiring then..:-((

To: Don Dorsey who wrote (32980)	5/6/1998 5:06:00 PM
From: John Rieman	Respond to of 50808

Digital services start in Poland in September.................. ijumpstart.com When Canal Plus and @Entertainment agreed to consolidate their digital offerings (Canal Plus Polska and Wizja TV) two weeks ago, the spectre of competition that brought huge margins in countries such as Germany in the summer of 1996 was wiped out. Due to the new-found co-operation, the Wizja TV platform, which was scheduled to launch April 18, has been pushed back to September. Now instead of two competing platforms, programmers are left to negotiate with one platform that would have a higher chance of success than the two competing platforms. Contracts with programmers that were scheduled to launch with the Wizja TV platform in April (such as Fox Kids and Hallmark) will be honoured. Fox Kids, for example, had planned its Polish launch around the planned launch of Wizja TV. Even still, the children's channel successfully launched to 750,000 subscribers on @Entertainment's PTK cable platform. Prior to the merger, both players had maintained that they could go it alone in the Polish market. Few observers, however, agreed with that view. Simply put, with only 1.5 million cable subscribers at present, the Polish media market is not big enough for two players. Indeed, relations between the two players had become acrimonious well before the planned launch. Last autumn, Canal Plus took legal action against anchor Wizja TV programmer HBO Polska, alleging that it was broadcasting unlawfully. More recently, it filed a complaint against HBO in Hungary, also alleging that HBO was not complying with local broadcasting regulations. Despite the merger, the two suits are continuing. "We signed an agreement with @Entertainment, not HBO," Canal Plus' Bernard Cottin said. But with @Entertainment now a shareholder in Canal Plus Polska, the onus may be on Canal Plus' new partner to help resolve the dispute. Most view last month's deal as a spectacular coup for the French media giant, which now has direct involvement in Europe's final "major" market (comprising some 10.7 million TVHHs). Canal Plus' empire now stretches from the northernmost point of Scandinavia (thanks to its partnership with Telenor in Canal Digital), through the Benelux and France to Italy and Spain. Germany is also well-covered when one considers the four-channel Multithematiques bouquet present as part of the DF-1 package, not to mention Premiere's seven-channel line-up. With the full launch this autumn of its Internet-by-satellite service, Canal Plus could again justifiably claim to be Europe-wide in its customer base. In their latest coverage, analysts at Lehman Brothers, gave Canal Plus shares a "Buy" recommendation. "Canal Plus is poised to be a clear winner in the digital war," according to the report, which cited the group's positive record in digital TV, pan-European distribution, control over key TV rights, established brand names, first-to-market advantage and solid balance sheet. Lehman's analysis of the European digital box status shows (estimated at end 1998) Canal Plus with 46 per cent of 5 million direct-to-home (DTH) boxes. Even jumping ahead to 2005, Lehman still suggests Canal Plus will control 22 per cent of Europe's 33 million digital boxes. Terms of the Deal The merger, which is subject to regulatory approval and a complex share restructuring, saw Canal Plus sign a letter of intent to join the Wizja TV DTH bouquet. The new digital platform is scheduled to launch in September as Wizja+. The merged company will be made up of @Entertainment subsidiary DTC Productions (40 per cent), Canal Plus SA (40 per cent), Polish media company Agora (10 per cent) and Polish investment company Polcom (10 per cent). Under terms of the deal, which is subject to regulatory approval and a complex share restructuring, DTC will invest $112 million in Canal Plus' Polish holding company TKP. In turn, TKP will purchase all of @Entertainment's pay-TV assets, not including @Entertainment's existing Polish cable interests. Future plans for the Canal Plus Polish service include three multiplexed versions of Canal Plus Polska plus localised channels including Planete (with 600,000 Polish subscribers). Both @Entertainment and Canal Plus have agreed in their letter of intent to a "standstill agreement for a period of 45 days."