Consumer >> Sector Roundtables >> July 31, 2000

Roundtable Forum: Entertainment Industry

RICHARD J. MACDONALD is a Managing Director at J.P. Morgan Securities. He previously served as Global Research Director at TD Securities, Inc., as well as a Broadcasting and Cable Analyst with First Boston Corporation. 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. Profile
JAMES C. GOSS is a Vice President and Senior Research Analyst with Barrington Research Associates, Inc., and Barrington Asset Management, Inc. He has more than 30 years of experience in the investment industry, with the last two decades focused on the media and entertainment industries. Prior to Barrington, Mr. Goss was with Duff & Phelps and Nesbitt Burns Securities, where his coverage areas, prior to taking on media and entertainment industry responsibilities in 1985, included retailing, consumer finance, lodging, restaurants and oil services. Mr. Goss is a two-time winner of The Wall Street Journal's 'Best on the Street' analysts survey, once in Cable & Broadcasting and once in Entertainment. He frequently appears in the media, including The Wall Street Journal, Barron's, Crain's, USA TODAY, various newspapers and trade publications, Wall Street Week with Fortune, CNBC and CNN. Mr. Goss received his Bachelor of Arts degree with high honor in Mathematics from Lewis University and his Master of Business Administration degree in Finance and Accountancy from the University of Illinois at Urbana-Champaign. He also holds the Chartered Financial Analyst designation and has been active in the CFA Institute and its local affiliate, The Investment Analysts Society of Chicago, having served as President of the Chicago Society. Profile
EDWARD T. HATCH is the Managing Director, Head of Media & Entertainment Equity Research Group for SG Cowen Securities Corp. He has 17 years experience, which has provided him with a broad perspective in research coverage in the media and entertainment industry. His primary focus is in broadcasting and filmed entertainment. Prior to joining SG Cowen in 1998, Mr. Hatch was Head of Media & Entertainment Research at UBS Securities and the newly merged Warburg Dillon Read for seven years. He also provided media research coverage for Nomura Securities, Merrill Lynch, and Lehman Brothers. Mr. Hatch received an MBA from Syracuse University and a BA from Colby College. He is a member of the Media and Entertainment Analysts Society of New York of which he was previously an officer. He has been ranked in The Wall Street Journal's All Star Analysts Survey five times in six years, three of which with the Number One ranking in stock selection and earnings forecasts. He is also ranked by II, Greenwich Research and Reuters, for his analysis. Mr. Hatch was ranked as the Number One Analyst for Earnings Forecasts and Number Five for Stock Selection in 2000 Survey, Number One Analyst in the 1998 The Wall Street Journal's All Star Analysts Survey for stock performance for Broadcasting and Cable TV and ranked as the Number One Analyst in the 1995 The Wall Street Journal's All Star Analysts Survey for stock performance for Filmed Entertainment. He appears regularly on CNN and CNBC for his insights about the media industry and in The Wall Street Journal, The New York Times, Dow Jones, Reuters and Bloomberg. Profile
TWST: Tell us first about the approach that you take to investing in the

entertainment industry. Which companies do you follow most closely, Ed?

Mr. Hatch: We focus on the major diversified