Zen, Far from me to discourage you on your Destra post, theirs not too many of us that post on Destra, but I would like to take you to task on some of your comments. Destra to compete with News corp – Destra hasn’t set itself to compete with NWS, Dom is far more astute than that, what he has done is start to build his own communities around content and advertising on an affordable scale, these will not be AAA type websites etc but they do play a role in the overall media. You talk of buying a popular web site, these cost Millions of dollars with no chance of it being earning positive for a number of years to come – a good way to send yourself broke! Lets not forget they own the MP3 site, which has won a number of awards including the No.1, hit wise award for media/entertainment websites plus JJJ and a number of other smaller sites. IMO the Destra story is now starting to deliver – two years ago destra revenues were around the $10 million and now for the end of 06-07’ we are looking at $100m based on a proforma basis (not inclusive of Magna which extra $30m+). Now if that’s a story we’ve all heard before then hopefully we’ve all been on board and made lots of money because calculated growth like this should make us all rich with minimal risk. I have posted a number of other posts on other aspects of Destra if you get chance look them up. Destra is a hard company to understand but once you do you’ll see it’s huge growth potential, which IMO is being delivered by Dom & co. One thing that I failed to mention is this acquisition over time should increase Detra to a market cap of +$100 million (see my post on earnings) which opens the door to a lot more broking houses and insto’s than previously.
DES Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
