Focus on Entertainment Stocks
Spotlight on Gaylord Entertainment Co.: Led by Chief Executive E. W. Wendell, the company increased its 1992 revenue 7.1% compared to 1991, while profit soared 1,563.5% largely due to considerably lower interest expense. Says analyst Mary Kukowski of First Boston: “They are the Disney of country music. They launched Country Music TV in Europe last October. American country music is very popular in Europe, and this (expansion) could become a very good business for them.”
Major Properties
* Cable networks: The Nashville Network, Country Music Television
* Entertainment: Grand Ole Opry, Opryland Hotel, Opryland Theme Park
* Broadcasting: Four TV and three radio stations
* Cable TV: Crown Cable
Financial Data
* Market capitalization: $2.2 billion
* Cash: $5.4 million
* Long-term debt: $299.3 million
* 1992 revenue: $643.7 million
* 1992 profit: $29.4 million
* Earnings per share: $0.70
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