tag:blogger.com,1999:blog-8152901575140311047.post685175788017500714..comments2024-03-28T12:49:46.624-04:00Comments on Musings on Markets: Comcast bids for Time Warner Cable: Synergy, Reverse Synergy or Ego Trip?Aswath Damodaranhttp://www.blogger.com/profile/12021594649672906878noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-8152901575140311047.post-34246121581677833892014-03-06T23:36:44.300-05:002014-03-06T23:36:44.300-05:00good job and great information
web design coimba...good job and great information <br /><b><a href="http://www.webdesign.123coimbatore.com/web-designing.php" rel="nofollow"><br />web design coimbatore</a></b><br />Anonymoushttps://www.blogger.com/profile/14588229614761237553noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-47188109068710275782014-03-06T02:25:37.075-05:002014-03-06T02:25:37.075-05:00Theirs to much concentraction in media.Theirs to much concentraction in media.PENNY STOCK INVESTMENTShttp://www.manhattancalumet.comnoreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-25446329352902254232014-02-24T20:09:19.917-05:002014-02-24T20:09:19.917-05:00Any chance the Comcast spins off NBC/Universal to ...Any chance the Comcast spins off NBC/Universal to the public?<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-41326112488694015152014-02-19T17:14:41.992-05:002014-02-19T17:14:41.992-05:00Nice post with nice stats i need to visit here aga...Nice post with nice stats i need to visit here again and again<br /><a href="http://www.aamiits.com/" rel="nofollow">Seo Company India</a>Manoj Kusshwahahttps://www.blogger.com/profile/04952000994276390593noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-52302165017610319372014-02-19T15:15:45.875-05:002014-02-19T15:15:45.875-05:00Professor, you might be neglecting the integration...Professor, you might be neglecting the integration challenges and the underlying expenses of a merger of this magnitude . The amount of work that needs to transpire to consolidate systems, processes and resources across 2 big companies is never easy and is often disruptive spanning multiple years. There are transaction and integration costs that need to be accounted for not to mention the incremental risk due to typical integration issues (e.g. culture gap). More often than not, you might see a negative synergy in the first year or two as the 2 businesses are consolidated and streamlined. In my humble opinion, these are not insignificant line items and need to be accounted for in any valuationHemanth Mandahttps://www.blogger.com/profile/06898007078875416663noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-39078281603564735072014-02-19T15:14:01.016-05:002014-02-19T15:14:01.016-05:00This comment has been removed by the author.Hemanth Mandahttps://www.blogger.com/profile/06898007078875416663noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-9388365895144347122014-02-19T13:28:04.036-05:002014-02-19T13:28:04.036-05:00Thanks Prof for the clarification. I enjoyed this ...Thanks Prof for the clarification. I enjoyed this post. <br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-29426633872776972932014-02-19T13:18:05.911-05:002014-02-19T13:18:05.911-05:00The question is about the tax rate is a good one. ...The question is about the tax rate is a good one. The marginal tax rate in the US at the federal level is 35%. These companies already pay well above the average effective tax rate on their income and I am assuming that this is steady state at least for an effective tax rate. Aswath Damodaranhttps://www.blogger.com/profile/12021594649672906878noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-38840634866823536332014-02-19T13:10:28.393-05:002014-02-19T13:10:28.393-05:00Prof, my apologies, I just noticed that you have d...Prof, my apologies, I just noticed that you have done that in (value of firm today) cell. So first query is resolved. <br /><br />Could you tel me why marginal tax rate is not used in terminal value calculation?<br /><br />ThanksAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-38144189350378214482014-02-19T13:02:39.447-05:002014-02-19T13:02:39.447-05:00Prof, nice post.
I have noted a couple of things:...Prof, nice post.<br /><br />I have noted a couple of things:<br />1) Terminal value calculation does not include division by (1+r)^5 to bring it to the present value today. The calculation only brings the present value at the end of 5 years.<br /><br />2) Marginal tax rate is not used in terminal value calculation; instead current effective tax rate is used. <br /><br />It would be nice if you could clarify. Thanks<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-25338778839501849722014-02-19T12:39:23.183-05:002014-02-19T12:39:23.183-05:00Anonymous,
Conceded, but no matter what the reason...Anonymous,<br />Conceded, but no matter what the reason, it has to show up in the numbers. I think that yours is an argument for higher operating margins going forward (as content providers get squeezed). The only problem is that it is not 1990 and content providers have alternate routes to get to customers. Aswath Damodaranhttps://www.blogger.com/profile/12021594649672906878noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-79642316293815950042014-02-19T05:18:22.779-05:002014-02-19T05:18:22.779-05:00This post is really useful for all traders and inv...This post is really useful for all traders and investors of India on share market. I appreciate the effort kept by the author for publishing this post. I also request to keep posting such useful articles for option tips in the financial field. In that attempt, I also recommend to get some more information on .Investing is always a good option to increase the returns but types of investments and its methods are only known by good posts and articles like this.<br /><a href="www.sumanfinancial.com/intraday_stock_cash_tips" rel="nofollow">Stock Tips</a>Anonymoushttps://www.blogger.com/profile/13292711590844480880noreply@blogger.comtag:blogger.com,1999:blog-8152901575140311047.post-22081435657827850962014-02-19T01:32:25.249-05:002014-02-19T01:32:25.249-05:00What about stronger negotiating power with media c...What about stronger negotiating power with media content suppliers? Isn't it the whole logic of the deal? Malone is pushing for a consolidation for a reason.Anonymousnoreply@blogger.com