Amit Chokshi_

R.H. Donnelly: The Stock's a Steal

D&A is always a pretax expense, so it's not really any "clever tax structure" that allows for that specifically for RHD. High D&A and low capex is pretty common with a lot of media companies. Also, don't you think the 5.8x p/cash flow figure is low because of the significant debt load? On an enterprise value to ebitda figure, this thing is closer to 20.0x, which is very high even for stable cash flow media cos.