Focus on Entertainment Stocks : Spotlight: BET Holdings Inc.

When it had its initial public offering in November, 1991, BET Holdings Inc., was the first black-majority-controlled company listed on the New York Stock Exchange. Guided by founder and CEO, Robert L. Johnson since 1979, BET has seen advertising and subscriber revenue increased steadily; ad revenue climbed 30%, reaching $32.2 million in fiscal 1992, while subscriber revenue has jumped 63% in the last five years to $25.6 million. The company has nearly 35 million subscribers.

Major Properties

* Television: Black Entertainment Television network; 2,661 affiliates

* Publications: Young Sisters & Brothers magazine; 44% controlling interest in Emerge magazine

* Major investors: Time Warner Entertainment Co.; Tele-Communications Inc.

Financial Data

* Market capitalization: $362.4 million

* Cash: $30.4 million

* Long-term debt: $13.8 million

* 1993 revenue (9 mos.): $53.9 million

* 1993 profit (9 mos.): $9.9 million

* Earnings per share: $0.48