| How do professional investors boil down the massive amount of information about a company, including some information which is qualitative in nature, into a single number in order to justify a transaction? What's the process? What are the variables? |
| This process, called "valuation," is as much an art as a science. The finance professional must factor in the human elements, strategic and market influences, and quantitative data. We will explore some of the industry-specific factors affecting valuation of technology and new media companies. New media companies in particular bring complexity to the valuation process because the market is still deciding if these enterprises should be valued like software stocks, traditional media, broadcasting concerns, cable companies, or some hybrid of the four. |
| We addressed early-stage valuation as well as public company valuation, looking both at transactions geared towards obtaining active control as well as those which assume a passive interest in the company. |
Panelists:
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Barry Newman, Managing Director/Head of Global Technology Group, Salomon Smith Barney, Inc. (www.salomonsmithbarney.com) |
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Harry Sedgwick, Henry D. Sedgwick & Associates |
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Richard Vieira, Senior Associate, Broadview International LLC (www.broadview.com) |
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To Be Announced, a senior banker from Merrill Lynch's Technology Banking Group |
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Moderators Steven Resnick, Director of Equity Research, Union Spring Asset Management and Bryan Finkel, Managing Director, Technology Venture Management |
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| DATE: |
Wednesday evening, November 18, 1998 |
| PLACE: |
Chase Manhattan Bank, 270 Park Ave. (47th St.), NYC. 11th Floor |
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