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

To: Kevin Podsiadlik who wrote (2346)	4/20/1999 8:54:00 PM
From: MW	Respond to of 3015

hey kev; let's keep it simple ok? maybe then you'll get it. <<4.Why didn't you talk about the JOINT VENTURE? I thought I was.>> You thought wrong. Why don't you explain the joint venture then? What exactly is TV Guide contributing? What is SRCM contributing? What services and products is the JV going to promote? What is their intended market? <<Or SRCM's EPG?? Isn't that how they measure brain activity? That can't be significant. Oh, I see, you mean the Electronic Programming Guide, you mean the one that was roundly ignored at the Western Show last December?>> If SRCM's EPG is so insignificant why was it specifically excluded from the JV and liscensed directly to TV Guide separately? <<TV Guide's talking BILLIONS. Yeah, don't you wish you had their stock?>> As a matter of fact I do own their stock. Quite a bit I might add and it is very profitable so far. My only problem is I'm not sure whose money I want more, you,augie, or archer. You sound like a peon, barely worth the time it takes to respond to your posts. You're two bit, chump change. I think augie and archer have enough to really suffer here. That's gonna be fun. By the way , you did see the 13d Tudor filed yesterday for SRCM. I guess they didn't call you before they started buying. What do they know anyway? I just wish you had enough money to really go short. A jerk with your lack of knowledge and big mouth could really get hurt. Too bad you're a piker.

To: Kevin Podsiadlik who wrote (2346)	4/21/1999 9:20:00 AM
From: MW	Read Replies (1) \| Respond to of 3015

hey kev; a little more education for you and your handy dandy calculator though I know this will fall on deaf and dumb ears.. <<So currently SRCM has 12.8 million shares valued in the market at $269 million. So, doing a rough figuring by adding the $200 million to SRCM's value, we have an implied value of $469 million for SRCM after the deal. Divided into 35 million shares that leaves an overall value of $13.40 per share, a drop of 35% in share value based on dilution alone.>> TV Guide has warrents that when exercised at a cost of 200 million$ will give them a 40% interest in SRCM. Recharge your batteries. Any way you slice it that gives SRCM an "implied" valuation of 500 million$ That also "assumes"[and you know what happens when you assume] that TV Guide is paying "fair market value". In fact TV Guide is getting a very discounted value in return for bringing SRCM into the TV Guide/ATT/TCI/LibertyMedia/John Malone/Rupert Murdoch family. So the real question is, if one could buy srcm on the same terms as Murdoch/Malone which I did a few weeks ago at approx. 15$[ not to mention the thousands of shares I own at 5$] why not take advantage? Well, the SMART money did and thats why the stock is back above 20.. For a talkative guy you're pretty quiet on the "details" of the joint venture. Don't you understand it or are you just having difficulty trying to "spin" it?? One other thing. The shorts have been circling since last July yet the stock price maintains a very nice level. Smarter shorts than you have come and gone yet you're still around. Getting a little lonely? Are you gonna be the last idiot holding down the fort?