Focus on Entertainment Stocks
Spotlight on International Family Entertainment: The Virginia Beach, Va.-based company, which employs more than 250 people, is considered one of the principal providers of cable network entertainment that espouses traditional family values. The company, headed by televangelist Pat Robertson, posted a 43.4% average gain in profit over the last three years. The company’s bid to acquire the Nostalgia Network has gone unanswered since early October.
Major Properties
* Cable: The Family Channel, reaching 57.3 million U.S. households
* MTM Library: 1,950 combined episodes of “Evening Shade,” “Bob Newhart,” “Hill Street Blues,” other MTM series
* Family Channel Library: “Big Brother Jake,” “Rin Tin Tin K-9 Cop”
Financial Data
* Market capitalization: $645.3 million
* Cash: $32.2 million
* Long-term debt: $27.3 million
* 1992 revenue: $131.7 million
* 1992 profit: $29.6 million
* Earnings per share: $1.17
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