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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Tim Luke who wrote (42826)	5/19/1999 4:36:00 PM
From: kathyh	Read Replies (1) \| Respond to of 90042

thank you tim, and please punch markc for me <ggg>... have to run, see you all soon!!! kathy :)))

To: Tim Luke who wrote (42826)	5/19/1999 5:05:00 PM
From: Tim Luke	Respond to of 90042

Outdoor Systems up on speculation Billboard firm 'historically' in Infinity talks, analyst says By Steve Gelsi, CBS MarketWatch Last Update: 4:56 PM ET May 19, 1999 NewsWatch NEW YORK (CBS.MW) -- Shares of Outdoor Systems gained 12 percent Wednesday on speculation that Infinity may be jockeying to buy the No. 1 U.S. billboard company. Analyst Tim Wallace at Lehman Bros. told CBS.MarketWatch.com that he's heard for a "couple of months" that Infinity (INF: news, msgs) and Outdoor Systems (OSI: news, msgs) were at the table to discuss a merger. OSI NYSE Last Chg. 30 +3 1/4 % Chg. Vol. +12.15% 2,297,900 Day Lo. Day Hi. 26 5/8 30 3/8 Open Prev. 26 7/8 26 3/4 As of May 19/99 5:03 pm ET Last Trade May 19/99 4:07 pm ET 20 MIN. DELAY "Infinity has been in talks historically with these guys," he said. "There is some strategic interest on both sides. Wallace said he spoke to Infinity management on Wednesday, but he didn't get the sense that any deal was imminent. He added, however, that Outdoor Systems appears to be "open to the idea" of selling to a bigger firm to enhance shareholder value, but he said the company isn't actively pursuing a deal. Outdoor Systems, whose representatives weren't available for comment, has a market cap of $5.4 billion. Its shares rose 3 1/4 to 30 on volume of 2.3 million. Infinity gained 1 3/16 to 29 7/16. Infinity has a big war chest for acquisitions, but its past history suggests that it won't do deals that will dilute shareholder value. Representatives from New York-based Infinity weren't available for comment. Analysts were scheduled to meet with Infinity parent CBS (CBS: news, msgs) in an afternoon session as part of the annual push behind its fall TV season. CBS is a significant investor in MarketWatch.com, the publisher of this site. Infinity, a leader in radio broadcasting and billboards, has a capacity for up to $10 billion in acquisitions, plus it's seeking a greater presence to sell outdoor advertising in major markets.