Ascent Media Corp A (ASCMA)

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ron kardon

==References==10 Q & 10 K and last conference call.

  Ascent Media assists media companies in getting their various films, ads , dvds to markets around the world. Reasons to own this equity. At a current trading price of $27.66 and a clean book value of over $43.50 per share you can buy it about $16.00 under book. At the end of the third quarter they had cash of 295 million and marketable highly liquid securities of 41 million and no debt. They recently sold their London operation to Discovery Holdings for 35 million. If you add these 3 items together you get 371 million dollars. With current assets at the end of the third quarter of 442 million plus the 41 million of liquid investments and the recent 35 million sale you get what i would consider current assets of 518 million dollars. At the end of the third quarter total liabilities were only 108 million dollars. With only just over 14 million shares outstanding thats over $29 dollars a share. While they have been reporting operating losses they still generate cash and did over 400 million in revenues over the last year. This stock has current sex appeal above and beyond the fact that it has a pristine balance sheet and here is the reason......John Malone of Liberty Media and a genius in the media and cable industry recently joined the board. He holds approximately 5% of the companies shares and about 50% of the voting rights with his B share holdings. He has a history of working with this management team , which is looking to invest the companies substantial cash. John Malone is brilliant at deal making and with this stock trading where it is  you can join him at a very cheap price.