Company

Symbol

P/E*

Price 6.10.03

52-wk high/ low

+/- 5 yrs

+/- 10 yrs

Market Cap/ #Shares

Sales/ Income

B=billion

M=million

Book Value

Debt/ Equity Ratio

Insider Trading (last 12 months)

**Sony Corp.

(ADR)

SNE

29.90*

29.71

53.60

23.16

-40%

+40%

27.36 B

921 M

62.3 B

963 M

22.50

.33

None filed. (ADR)

**Disney

DIS

40.60

20.62

22.37

13.48

-49%

+35%

42.13 B

2.043 B

26.26 B

1.02B

11.51

.55

$41,736 Sold

$300,000 Bought

**News Corp.

NWS

N/A

31.47

32.44

17.60

+19%

N/A

41.78 B

1.388B

17.06 B

-5.78 B

15.09

.38

None filed.

ADR.

**Vivendi Universal

V

N/A

19.00

19.00

12.00

-75%

N/A

20.63 B

1.086 B

51.12 B

-12.12 B

30.16

.76

None filed.

ADR.

AOL Time Warner

AOL

N/A

15.02

17.89

8.70

+50%

+12,500%

67.56 B

4.497 B

41.88B

-44.06B

11.84

.55

$137 M sold, mostly from Ted Turner

USA Interactive

USAI

N/A

36.76

39.18

15.31

+225%

+2,750%

18.96 B

515.7 M

$5.04 B

$-96.50 M

16.94

.14

$68.7 M sold,

including $28.7 M by Barry Diller.

$1.545 B bought (Liberty Media Corp.)

Viacom

VIA

N/A

46.20

49.92

29.79

+70%

+150%

6.165 B

1.756 B

24.98B

2.30 B

35.82

.16

$500,000 Sold

Company

Description

News and Comments

AOL Time Warner

Old and new media model, from tv and print to the Internet. Will the marriage last, or will AOL be spun off? Will AOL beat back the broadband leader, cable?

S&P Credit Rating: BBB+/Watch Negative/A-2. Summer blockbusters were, The Matrix Reloaded and the In-Laws. Recently withdrew its book division from the auction block because the offers were too low. AOL settled its Netscape suit with Microsoft on 5.29.03, in an agreement that promises increased cooperation between the two companies to improve the compatibility of their products. AOL is now offering Broadband Rocks, a weekly concert series. Faith Hill will be the first feature artist.

Disney

The Walt Disney Company. From Mickey Mouse and Disneyland to ABC TV, EPSN, A&E, Hollywood Pictures, Touchstone, Miramax and 60 radio stations.

S&P Credit Rating: BBB+/Watch Negative/A-2. Summer blockbuster was: Finding Nemo. After closing 135 Disney stores, DIS is exploring options to sell off the remaining 387 stores. The Hong Kong government is considering selling its 57% stake in the $1.8 billion Walt Disney theme park that is scheduled to be completed in Hong Kong in 2005.

News Corp.

Rupert Murdoch’s media empire includes: Fox Film Corporation, Fox Broadcasting, scores of newspapers, TV stations, cable and satellite operations in Asia, Australia, Europe and Latin America. Murdoch’s family owns about 30% of this $41.78B company.

S&P Credit Rating: BBB-/Stable. Reuters reported on 5.13.2003 that Fox Entertainment Group (a division of NEWS Corp.) expects full year 2003 earnings before EBITDA to increase 55%, a 10-15% jump from earlier estimates of 40%-45%. News Corp. reached an agreement with GM and Hughes Electronics to acquire DirecTV on 4.9.03. The Feds are currently looking into anti-trust ramifications, before they will approve the deal. Recent smear ads worldwide have painted media mogul, Rupert Murdoch, as an evil megalomaniac who controls the news, print and airwaves of many nations in the world. Summer blockbuster was : X2: X-Men United.

Sony Corporation (Janpanese ADR)

Sony Records, Sony Pictures, Sony Play Station + Japanese insurance company, Japanese online banking company and Japanese advertising company.

S&P Credit Rating: A+/Negative/A-1. Sony receives the highest S&P credit rating in this industry, followed by Viacom. P/E is well below the other media giants. P/E to growth suggests Sony stock may be undervalued, according to Money Central. Plans to launch PSP, Play Station Portable, at the end of 2004, a handheld video game with wire link capacity to PS2s, cellphones, PCs, etc. Exclusive deal with the world’s largest software maker, Electronic Arts, for online gaming software of sports, the SIMs, and more. Earnings missed expectations on 4.24.03, due to weak economy and group-wide restructuring. Summer blockbuster was: Daddy Day Care.

USA Interactive

Sold entertainment assets to Vivendi Universal Entertainment in May 2002 and became an agoraphobic’s dream! Barry Diller owns Hotels.com, Expedia.com, Match.com. and the Home Shopping Network, and is expanding his online empire.

S&P Credit Rating: BBB-/Stable. Larry Haverty, a State Street Research and Management analyst, predicts that USA's shares will exceed $50 in the next 18 months, as a result of Barry Diller resigning from Vivendi Universal to focus on USA's on-line businesses. (NYT 4.11.03) Expedia achieved a hotel industry milestone by selling 69,000 room nights in a single day on 6.6.03. Match.com, a popular online dating service, has partnered with La Opinion, to provide matchmaking online to Spanish speakers.

Viacom

MTV, CBS, UPN, BET, Paramount Studies, Showtime, Comedy Central, Infinity Broadcasting, 81% Blockbuster, 39 TV stations & Simon & Shuster.

S&P Credit Rating: A-/Stable. 2^nd highest credit rating in this industry, next to Sony. CEO, Sumner Redstone, and Mel Karmazin, president, each received a raise and compensation totaling about $34 million, while share price declined 16.9% (last 12 months). Change in board to majority of independent directors, 11 of 17. Summer blockbuster was: The Italian Job. Reuters reported on 6.4.03 that Viacom was not interested in Vivendi Universal’s film studio, but would consider buying the cable networks at the right price.

Vivendi Universal S.A.

Evolved from a water utility into the world’s #3 media company (behind AOL Time Warner and Disney). Currently, however, V has splashed down to reality, and is selling off entertainment holdings. Still owns Seagram, Canal (EU pay-TV) and Veolia Environnement (world’s #1 water distributor).

S&P Credit Rating: BB/Stable. Vivendi is looking to sell its entertainment assets. On 5.21.03, the Wall Street Journal reported that Edgar Bronfman Jr was assembling investors to buy out Vivendi Universal’s US entertainment businesses. The price is estimated to exceed $15 billion. USA Interactive has agreed to buy Vivendi’s shares of USA common stock for appx. $242.3 million. Vivendi’s CFO announced on 6.3.03 that Vivendi was "over the hump" of its cash crunch and credit issues. Summer blockbuster was: Bruce Almighty.