Analysts who listen in on the same conference calls with Thomson execs as we do may well tell you that it is LIKELY that Premier Retail Networks (PRN) is one of the assets that Thomson will dispose of.
However we can tell you that PRN is DEFINITELY up for sale.
First, it’s important to say that this is no reflection on PRN itself. It has more to do with the fact that Thomson has to sell in order to raise cash. Short term there are going to be a number of other Thomson divisions which will be disposed of also.
What’s hard to believe ia that the asking price for PRN is higher than the current market cap of Thomson itself!
To get that sort of price, no doubt Thomson is talking to the likes of Clear Channel, News America (Murdoch), NBC/GE, Viacom etc.
We will have more on this story over the weekend,