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ValueVision Media, AŞ Message Board

  • skidmo1 skidmo1 Mar 9, 1998 11:56 AM Flag

    On shareholder group announcement

    While I was excited to see the announcement that a "shareholder group" has come out against the merger, the details appear to be troubling. Based on the limited information in their press release, which details their proposed merger with VVTV, I think I would prefer the NM deal. In any event, I'm glad to see someone coming out against the merger publicly despite their obvious self-interest. Vote no, but for other reasons.

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    • Why would you prefer the NM deal to the $5.50 deal?
      Have you looked at how NM performed in the past few years?
      DO you know how much money they have been losing?
      Have you compared the balance sheets of both companies?

      SO what your saying is you would rather give up all the assets and the cash that VVTV has which is $60,000,000 in cash and over
      $140,000,000 in shareholders equity to a company which is almost falling apart? And what are you getting in return?

      Stock of NM which is around $2.00 and falling?

      Management tried buying NM a few years and it did not work
      So they are trying again, most people are the Board own no shares
      And management owns very little, (they make their money by giving them self very big salaries over 350,000) so the people that are to lose are the shareholders like you and me.

      Do your homework and vote NO.

      I am not sure that $5.50 is the best deal but it's sure better
      then $3.50 or even less

      • 1 Reply to computerr
      • Having done my homework before the last post, here's why. The shareholders group is nothing more than a few brokers that got
        their clients into VVTV and are trying anything to look good. The deal is no better than what you or I could put together and buy
        out VVTV. The debentures, which I assume they don't have an underwirter for yet, would provide little if any value and the
        company would be a joke. So, you're basically getting $3.50. NM is announcing a new president next week, monday or tuesday. I forgot
        the name, but I was informed that he was well respected and NM should continue to pop up a little next week. I actually bought
        some NM last week when it was down around 2 1/8 as an arbitrage play against the merged value. I haven't sold it yet, but will
        probably flip it when it hits 3 or gets near it. Meanwhile, I've got an average cost in VVTV of about $4 and I'm sticking. I'll still
        vote against the merger, but I've given up hope that the deal will die. So, I stand by my last message, vote no, but not because
        of two guys in Milwaukee.