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  • Pickle_007 Pickle_007 Feb 8, 1999 2:13 PM Flag

    CNBC recommended NM (National Media) thi

    Herb Greenberg positioned NM as the "undiscovered
    Internet" stock to buy. Here's the text.

    interview
    with Herb Greenberg of The Street.com. If anyone is
    still a dis-believer, shame on them. With the NM short
    position being 25 % of the entire float and with what's
    about to be launched by NM soon to be ETV, it's going
    to be a run ride upwards from here.

    "Stealth
    ecommerce play? National Media (NM:NYSE) has been operating
    below the radar in a market where e-commerce is the
    rage. The company, which bills itself as the world's
    largest infomercial and direct-response company, was a
    mess a little over three months ago when it was taken
    over by an investment group led by Stephen Lehman, the
    former CEO of Premier Radio, a large operator of radio
    stations. Several years ago Premier was sold to Jacor
    Communications, another big operator of radio stations that was
    recently sold to Clear Channel Communications (CCU:NYSE).
    Jacor, spurred by Lehman, became a major investor in
    National Media. Other new, large investors in National
    Media include Steve Hicks of Hicks Muse, David Salzman,
    former Chairman of Lorimar Television and Andy Schuon,
    the former No. 2 at Viacom's (VIA:AMEX) MTV who now
    runs Time Warner's (TWX:NYSE) Warner Bros. Records.

    With Lehman in, old management was out, as was the old
    business model and the old name. (It's being changed to
    E4L.) Lehman says the company plans to merge television
    infomercials and radio infomercials with the company's E4L and
    Everything4Less Web sites. He plans to spend $120 million buying
    media time for those infomercials. The idea, he says,
    is to help brand E4L; every infomercial will start
    by flashing the E4L web address. "E4L will be the
    brand," he says. The E4L web site, meanwhile, provides a
    link to Everything4Less, which is really
    Everything4Less's name on top of Cendant's (CD:NYSE) NetMarket,
    which offer 800,000 products. Says Lehman: "Who else
    has layered an entirely new Internet strategy onto an
    infrastructure that can support an e-commerce platform built
    entirely on leverage?"

    Beats me, but if it's so
    great, why have so few people heard of it, and why does
    National Media trade at 8 7/16? "I've only been here 100
    days," Lehman said. "I built Premier based on
    performance, and we delivered on what we told Wall Street we
    were going to do."

    He says he plans to do the
    same thing with National Media. Great on paper, now
    let's see if he can do it in practice.


    (National Media is part of the recently announced
    TheStreet.com E-commerce Index.)

    I hope my retrieving
    this interview is helpful to all folks frequenting the
    NM (National Media Board). Have a nice
    day.

    Pickle 007



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