Darkbeer
09-16-2002, 01:33 AM
OK, here is a very good article dealing with the meetings held Friday in New York with major investors....
http://story.news.yahoo.com/news?tmpl=story2&cid=849&ncid=762&e=8&u=/variety/20020916/media_variety/industry_disney_dc
The Disney topper offered a few tidbits: he acknowledged publicly for the first time that the company overpaid for Fox Family, shelling out $5.3 billion in a deal universally panned on Wall Street, which expects writedowns on the investment in coming quarters.....
Indicative of mood surrounding the Mouse is that the shares remain a favorite of short-sellers -- a class of investors that makes money betting a stock will go down by selling borrowed stock and hoping to replace it with cheaper shares bought at a lower price later. About 46 million of Disney's 2 billion shares are sold short, which is roughly twice the level of the average media company -- even embattled AOL Time Warner.
http://story.news.yahoo.com/news?tmpl=story2&cid=849&ncid=762&e=8&u=/variety/20020916/media_variety/industry_disney_dc
The Disney topper offered a few tidbits: he acknowledged publicly for the first time that the company overpaid for Fox Family, shelling out $5.3 billion in a deal universally panned on Wall Street, which expects writedowns on the investment in coming quarters.....
Indicative of mood surrounding the Mouse is that the shares remain a favorite of short-sellers -- a class of investors that makes money betting a stock will go down by selling borrowed stock and hoping to replace it with cheaper shares bought at a lower price later. About 46 million of Disney's 2 billion shares are sold short, which is roughly twice the level of the average media company -- even embattled AOL Time Warner.