This is a leveraged buyout play. The investors' goal was to milk the thing, lever the baby up and take it public so they can focus on their next deal.
More Quotes from Greg Gorbatenko:
Like his father, Roberts still has family values but they're packaged in a younger and more aggressive personality. What Wall Street admires about Roberts is that he's made big acquisitions and successfully integrated those units into the company.Greg Gorbatenko
Spectrum is a scarce resource and wireless companies build out their networks based on average expected usage levels. A spike in demand can blow up the network and most cannot handle an emergency.
Greg Gorbatenko
This is straightforward. When you crunch the numbers, BellSouth will have the most exposure to wireless and wireless is where you get revenue growth.
Greg Gorbatenko
None of the carriers is in a good position to make acquisitions. Money's still tight and cash is king, ... Any acquisition would get punished by Wall Street.
Greg Gorbatenko
Looks like you can pretty much sew this one up, ... Now Time Warner and Comcast will get relatively bigger scale. While operating well, this leaves Cablevision as the odd man out. Considerably smaller in scale and now without VOOM, it will be hard for the company to compete with the larger gorillas and their economies of scale, which becomes more important as the cable industry matures.
Greg Gorbatenko
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