Media Industry
Industry: Email Alert RSS FeedTCI Music trying to find its groove; digital cable Internet hold key to operation's valuation success.(Cable '98)
Broadcasting & Cable, May, 1998 by Higgins, John M.
Digital cable, Internet hold key to operations success
TCI Music is an amalgam of a nearly failed digital audio business, a stagnant interactive music-video service and an unproven Internet music business that generated only about $2 million in revenue last year. So why is this thing valued in the stock market at almost $700 million?
While TCI Music's portfolio is dominated by failed dreams and promises, it's also bolstered by high expectations fueled by two things that raise the price of almost any stock these days: digital cable and the Internet.
Executives of TCI Music--a combination of audio service DMX, music-video channel The Box and Internet start-up Sonic-Net--hope that the company will thrive as cable operators look to both...
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