Media & Entertainment Stocks : Richard J. Macdonald – J.p. Morgan Securities
RICHARD J. MACDONALD recently joined J.P. Morgan Securities, after two
and a half years as Global Research Director with TD Securities, Inc.
Previously, he was a Broadcasting and Cable Analyst with First Boston
Corporation. He has also worked on numerous transactions in the media
and entertainment industry, including those for Fox Entertainment Group,
Infinity Broadcasting, Time-Warner, New Corporation, Viacom, Turner
Broadcasting, ABC/Capital Cities and Heritage Media. Mr. MacDonald is a
graduate of Yale University and has conducted graduate work in Economics
at McGill University in Montreal. A Chartered Financial Analyst, he was
awarded a Freedom Forum Fellowship to study media entrepreneurship. Mr.
MacDonald was a semi-finalist in 110 meter hurdles in the 1972 Olympic
TWST: Richard, may we start with the approach that you have taken to the
media and entertainment stocks at J.P. Morgan Securities?
Mr. MacDonald: What I've done is taken a look at the