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Technology Stocks : VIAB (Viacom Class B shares) formerly CBS -- Ignore unavailable to you. Want to Upgrade?

To: Patrice Gigahurtz who wrote (2713)	10/7/1998 11:41:00 PM
From: Fred Fraschetti	Read Replies (1) \| Respond to of 4613

Hey all Whats UP!!! I notice that CBS hit 22.5 my target.... It just might fall below 20 now.... what ya all think!!!... .I don't think that this BEAR market is over!!!

To: Patrice Gigahurtz who wrote (2713)	10/8/1998 7:23:00 AM
From: John M Connolly	Read Replies (1) \| Respond to of 4613

Patrice : Yes I think that some media shares will be more equal than others if this slow down continues. Some Radio and TV stations are for sale - that was quick. By David B. Wilkerson, CBS MarketWatch Last Update: 6:56 PM ET Oct 7, 1998 BALTIMORE (CBS.MW) -- Sinclair Broadcast Group said Wednesday that it'll sell a number of its radio and television stations with a value of as much as $500 million during the fourth quarter and early 1999. Breaking News Nasdaq slammed by techs Greenspan says Fed on red alert Reno charges Visa, Mastercard Relief could be spelled Y-a-h-o-o! Gloom envelops Internet World More top stories... CBS MarketWatch Columns Updated: 10/7/98 9:41:10 PM ET The announcement came in a presentation to investors at the annual Goldman Sachs Communacopia conference in New York. Sinclair, owner or operator of 56 TV stations, said in a statement that in the face of current market conditions and slumping TV advertising sales, "the sale of selected stations that are not central to its strategy was appropriate." Sinclair said it will use the proceeds from those sales to finance pending acquisitions and to reduce debt. Additional stock buybacks may be in order, depending on market conditions, the company said. The company estimates that third-quarter results will be in line with Wall Street's expectations. Fourth-quarter broadcast cash flow figures will rise about 2-3 percent over year-earlier totals, Sinclair said, about even with third-quarter cash flow. The General Motors strike was a drag on third-quarter ad sales for Sinclair. And a general economic downturn has hurt overall TV ad spending. But Sinclair says political advertising will offset some of that weakness. Sinclair (SBGI) shares fell 5/8 to close at 9 15/16 Wednesday. Two months ago the stock was trading around 25. Shares of companies with significant radio and television holdings have been hammered in the past two weeks, hurt by investors who assume the weakness in TV ads is also hurting radio stations. Analysts and radio companies counter that radio advertising sales are booming, that there's nothing but blue skies ahead on the ratings front. Since Sept. 23, CBS (CBS) shares have slipped to 22 5/16 from 27; Chancellor Media (AMFM) stock has plunged to 23 15/16 from 37 1/2; Clear Channel (CCU) has hit 37 from just a little under 50; and Sinclair has fallen to 9 15/16 from the 18 area. David B. Wilkerson is an online reporter for CBS MarketWatch. CBSMW MarketPlace