re: sale of interests in cinema joint venture - ta Yeah - those...

re: sale of interests in cinema joint venture - ta Yeah - those were the ones that they wrote down becuase of the SARS problem and used as an excuse to get rid of the dividend on the pfd.

IMO five years fron now VRL won't be around and neither will AEO.

AEO is a worthless POS that con not even earn a decent ROC and as competition heats up its only assets - the radio staions licences will have to be written offat a much faster rate than they are now. The dividend that they pay to VRL will have to be cut.

VRL will be forced to offload AEO at a grtetlt resuced price to stave off a bankruptcy.

That bankruptcy will happen as a result of all the flops that they produce - like that Eddie Murphy movie and now Cat Woman. They will be hit by increasing interest rates on all the debt that they took on to fiance that dud movies and the share buybacks.

The taxes they save on paying interest rather than pfd divis won't matter becuase they won't have any profits!!

Once they go under, I'll have a good laugh!