Focus on Entertainment Stocks
Spotlight on Polygram Group: Chief Executive Alain Levy helped the company post a 19% increase in profit for the first half of 1993 and continued his strategy of developing the U.S. market by acquiring Motown Records. Says analyst Sharon Williams of Prudential Securities: “The music business is a fabulous cash cow for them, even in a tough music market. Over the next five years, they will likely expand their investments in other media-related businesses, especially in the area of film production.”
Major Properties
* Films: “Posse,” “Candyman,” “House of Cards,” “Map of the Human Heart”
* Videos: “NFL Rocks,” “Achtung Baby,” “Three Tenors”
* Record Companies: Motown, A&M;, Island, Mercury, Deutsche Grammophon, Verve, Phillips Classics
Financial Data
* Market capitalization: $5.4 billion
* Cash: $180.7 million
* Long-term debt: $91 million
* 1992 revenue: $3.7 billion
* 1992 profit: $280 million
* Earnings per share: $1.65
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