PK Worldmedia, Inc. is a forward-looking information provider with a strong foundation in industry history. Founder/CEO Paul Kagan, media industry investment analyst, consultant, commentator and investor, created the legendary Paul Kagan Associates, Inc. in 1969 and sold it, along with related companies, to Primedia, Inc. in 2000. The business he sold is now known as Kagan Research, a division of SNL Financial. Following the expiration of his five-year contract on Nov. 9, 2005, Kagan launched PK Worldmedia, Inc., to enable industry executives to continue to tap into his vast experience and unique new databases.
visit this website often
PKWM's website is your gateway to Paul Kagan's incisive commentary on current and future industry events and databases that speed and simplify your search for strategic information on industry growth and company valuations.
"Internet and electronics technology, combined with demographic changes, are dramatically changing the media landscape," Kagan says. "New products, new audiences, new cultural standards and new government regulations are creating a boom in new media, and changing old ones. We're living the realization of my earliest core prediction: The ability of people to consume media content exceeds the industry's ability to create it."
The three cornerstones of PK Worldmedia services are event analysis , trend analysis and the valuation of public and private companies . Industries analyzed include:
the concept of inherent value
"Most companies," Paul Kagan says, "have an 'inherent value,' which is the fair market value that would have to be paid for that company by the highest bidder for its assets. That number may be vastly different from the value placed on a company in the public stock market, which is often substantially lower than inherent value. That's why so many companies are acquired at a premium above the public price." PKWM places special emphasis on this gap in investor perception, in an ongoing analysis of the real worth of corporations.
Webster defines inherent as 'existing in something as a permanent and inseparable element, quality or attribute.' Among the synonyms of inherent are 'inbred, ingrained,' which aptly describes the value gap, because it focuses on branding and the excellence of management (quality/attribute) that becomes inbred as a company conducts its business. "As product and service franchises, logos, relationships with customers and local communities mesh over time with positive operating results, such qualities become ingrained, even though their value eludes casual observers and investors," Kagan says.
According to Kagan, public companies also trade at an inherent discount to private market value because the holdings of individual investors—and even large institutions—are, in effect, subject to a minority ownership discount. In private transactions, minority ownership may be discounted in a range of 20-60%. The price often paid to take a public company private carries, in effect, a premium paid for control of the assets.
Based in part on his theory of inherent value, Paul Kagan invests in private and public companies in the media industries and discloses such ownership in his publications. PKWM, however, does not offer investment advice. Information published by PKWM is not intended to be a solicitation to buy or sell securities.