Deep Value Diver's Comments

Deep Value Diver's Comments Deep Value Diver's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/14209/comments Should Liberty Starz Trade at a Discount? http://seekingalpha.com/article/173316/comments?source=feed#comment-767077 767077
I use the following assumptions in calculating the implied enterprise value of Starz Entertainment: i) 53.1 MM shares, ii) $608 MM cash, iii) $250 MM loan to LINTA, iv) $111 MM non-operating liability related to PSARs, and v) $43 MM - $54.9 MM of value for interest in WildBlue and PicksPal.

On Nov 17 10:36 PM SevenCostanza wrote:

> DVD -
>
> By what method did you determine the following?
>
> "At $47 per share, the market’s current valuation of Liberty Starz
> implies that Starz Entertainment is worth only 4.4x FY09 Adjusted
> OIBDA and 5.2x FY09 operating income."
>
> I arrive at similar numbers, but only as an EV/OIBDIA and EV/OI basis.
> Are you backing out cash and current assets as well?
>
> Take care
>
> Eric]]> Thu, 19 Nov 2009 09:14:31 -0500
I use the following assumptions in calculating the implied enterprise value of Starz Entertainment: i) 53.1 MM shares, ii) $608 MM cash, iii) $250 MM loan to LINTA, iv) $111 MM non-operating liability related to PSARs, and v) $43 MM - $54.9 MM of value for interest in WildBlue and PicksPal.

On Nov 17 10:36 PM SevenCostanza wrote:

> DVD -
>
> By what method did you determine the following?
>
> "At $47 per share, the market’s current valuation of Liberty Starz
> implies that Starz Entertainment is worth only 4.4x FY09 Adjusted
> OIBDA and 5.2x FY09 operating income."
>
> I arrive at similar numbers, but only as an EV/OIBDIA and EV/OI basis.
> Are you backing out cash and current assets as well?
>
> Take care
>
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