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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 (2850)	11/2/1998 8:36:00 PM
From: m thompson	Read Replies (1) \| Respond to of 4613

pasted from marketwatch:also from dow jones Other IPO news: CBS' (CBS) Infinity Broadcasting set the expected terms of its upcoming IPO in an amended filing with the Securities & Exchange Commission. The company said it expects to sell 135 million shares and estimates that the offering could fetch as much as $3 billion. An expected pricing range for the shares, however, has not been set and the $3 billion amount is only included to estimate the registration fee that Infinity will owe to the SEC. The company, which operates the outdoor advertising and radio station operations of CBS, originally filed for an IPO in September. The offering is expected later this year. November 2, 1998 Dow Jones Newswires Infinity Broadcasting Files With SEC For 135M Share IPO Dow Jones Newswires NEW YORK -- Infinity Broadcasting Corp. filed Monday to sell 135 million shares in an initial public offering that the company estimates will raise about $3 billion. The New York broadcaster will offer the shares in a spinoff from parent company CBS Corp. (CBS) Most of the proceeds are earmarked to repay debt to CBS, with the rest headed for general corporate purposes. If the deal is completed as planned, it would rank in the top three of domestic IPOs in terms of proceeds raised, behind only Conoco Inc. (COC) and Lucent Technologies Inc. (LU). Infinity would have 835 million shares outstanding after the sale - 135 million Class A shares to be sold publicly and 700 million Class B shares. CBS would retain control of the company through its ownership of Class B shares, which entitle the holder to five votes. Each Class A share entitles the holder to one vote. Analysts say offerings by established companies such as Infinity and Conoco, which debuted last month in a $4.3 billion offering, are the only deals that can be completed in the current weak IPO environment. Infinity owns 161 radio stations in 34 markets. It also operates an outdoor advertising business through its TDI Worldwide Inc. unit. - Dunstan Prial; 201-938-5354

To: Patrice Gigahurtz who wrote (2850)	11/3/1998 1:17:00 PM
From: Patrice Gigahurtz	Read Replies (1) \| Respond to of 4613

It's only about $7k but someone today bet (invested sorry) about $7k that CBS would be at least $30 by the end of the 3rd Friday in the current November ! Plus, they need $30 5/8th just to break even (not counting commission). When they do the IPO does that mean that CBS' radios will only net 80% for CBS share-holders compared to what currently is 100% of radios rev ? Can someone tell me how "cash flow" is determined ? Also, at $28 what's an estimate of CBS' past 9mos ratio of 'price time cash flow' ? Thanks