important disclosure information is contained on the last 2 pages of this report recipient directed to read these disclosures equity research industry comments september 7 2005 internet advertising outlook which old media silos lose laura martin cfa 917 373 3066 metrics com soleil sales and trading 1 800 569 2407 www soleilgroup ticker price 9 6 05 rating ccu 32 48 hold cmcsa 30 69 buy dis 25 17 goog 287 11 nws 21 twx 99 viab 34 40 yhoo 33 68 addresses following two questions what for growth if grows at 20 annually over next 5 years while total us only traditional ad driven do we think will market embedding long term ebitda rates in share prices companies today generate vast bulk their revenue from retain our holds google yahoo as indicates that may not grow
