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Technology Stocks : Source Media SRCM -- Ignore unavailable to you. Want to Upgrade?

To: MW who wrote (2145)	2/17/1999 12:14:00 AM
From: Kevin Podsiadlik	Respond to of 3015

What part of "$14.25 per share" don't you understand?

To: MW who wrote (2145)	2/17/1999 9:55:00 AM
From: Sir Auric Goldfinger	Read Replies (1) \| Respond to of 3015

BWA HA HA UH HA: UVSGA Invests $12mln In Source To Team On Cable: Satellite Content UVSG [UVSGA] and local media streamer and content developer Source Media [SRCM] will develop local content and interactive services for cable and satellite TV, bolstering UVSG's plans to wield its newly acquired TV Guide property. UVSGA will invest $12mln to acquire 842K shares of Source (6.2% of outstanding shares) and obtain two seats on Source's board, while Source will issue 5-year warrants to purchase 14mln shares of its common stock at $14.25/share. "We believe Source Media has some very interesting and compelling intellectual property to contribute to the joint venture," UVSGA Pres/COO Peter Boylan said in a statement. (Read: Gemstar [GMSTF]Who?) "These new service offerings compliment and expand our existing TV Guide product portfolio." Source is looking to UVSG's EPG services and industry clout to spawn a profitable platform for its local content and ad services. "United Video/TV Guide's leading market position in providing program guidance services, coupled with their strategic equity investors, Liberty Media [LBYTA] and News Corp [NWS], uniquely position the venture's business...," explained Source Chmn/CEO Tim Peters. UVSG will initially own 45% of the venture with the ability to increase its stake to a 55% majority, contribute $5mln in cash and $5mln in convertible debentures to the joint venture." Peter Boylan does not know who GMSTf is? Well he will soon enough. What a POS, this thing is MW.

To: MW who wrote (2145)	2/18/1999 10:50:00 AM
From: MW	Read Replies (1) \| Respond to of 3015

stevieboy; so where is your crack analysis on the UV deal?? I'm still waiting for you explain the following.. <<2. By selling to United Video, SRCM just put a value on their assets... Gee don't tell Anthony Stoss - he thinks those assets are worth billions... Wrong - they're worth less than their debt and this sale just admitted it...>> Their debt is approx 120,000,000$. I'm very interested in the formula you used to deduce that srcm's assets are worth less than their debt. Thanx in advance for your astute analysis. It should be very entertaining. mw