:43:15
Gentlemen, Tess McGill.
:43:20
Miss McGill, I'm Jack Trainer.
:43:25
How are you?
:43:27
This is John Romano and Bernie Kotar.
:43:30
Sit down, please.
:43:37
- Coffee?
- Sure.
:43:39
- Milk or sugar?
- Both, thank you.
:43:46
I suppose we should just get right down to it.
:43:49
Sure.
:43:53
I've lost my briefcase.
:43:58
In each of the last three quarters,
Trask Industries has announced plans
:44:02
to acquire a major market television station,
each time unsuccessfully.
:44:07
At the same time they've expended time
and money fighting off a takeover attempt
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by one of their Japanese competitors.
:44:15
Buying into radio would, in one fell swoop
accomplish two important tasks.
:44:20
It would give Trask
a solid base in broadcasting,
:44:23
and, because of FCC regulations forbidding
foreign ownership of radio stations,
:44:27
it would wipe out the threat
of a Japanese takeover.
:44:34
Interesting idea.
:44:38
But I don't like it.
:44:40
Trask has got a lot of cash
on their balance sheet.
:44:43
That's why they're a takeover target.
A radio station is small potatoes.
:44:48
I can't see him biting.
:44:51
I've already thought of that.
:44:53
I figure that we look for a radio network -
one with a real high profile.
:44:58
And with the surplus cash,
we implement a major stock repurchase.