Besides the fact that VV & TWX want to put the litigation behind them...why would the settlement be announced 12/23/98?
I suppose that after the bell and Christmas Eve tomorrow is probably good timing for this type of news...but, the charge is against Q4 and Q4 for VV does not end until 1/31/99.
Also, the CML charge for Q3 was part of the Q3 earnings announcement (and it was a larger charge than TWX)...why not handle the TWX charge the same way?? (i.e. with the Q4 release)
Maybe, there is some good news from VV to come in 1998? VV has certainly gotten rid of its dirty laundry pretty quickly(HomeVisions, CML and TWX litigation).
Prime: I like your 'blue chip internet' ideas; particularly if those ideas would announce real soon. That said, there has to be some sort of explanation for VV's involvement with NetRadio, PAX and CMGI?!?!?...and VV's lack of vvtv.com development.
Lets hope the market reacts well to the TWX news...after tax is about -$.18/Share...that is balanced against the fact that litigation with TWX is over; introduce the TWX programming concept and profit participation by VV in that concept; TWX 8 yr. renewal (guess they have confidence that VV will be around) and increased FTE from Staten Island.