Estate of Josephine T. Thompson, Deceased, Carl T. Holst-Knudsen and the Bank of New York, Executors - Page 32

                                       - 32 -                                         
               Using the comparable public company method, respondent’s               
          expert identified 11 publicly traded companies and treated them             
          as comparable to TPC on the basis of only two broad criteria as             
          follows:                                                                    

               (1) Classification under the same general U.S. Department              
                    of Labor Standard Industrial Codes as TPC (namely, Code           
                    #2731 –– Books:  Publishing, or Publishing and                    
                    Printing, and Code #2741 –- Miscellaneous Publishing);            
                    and                                                               
               (2) Reported positive cashflows for 1995-97.                           

               Set forth below in schedule format is a listing of TPC and             
          the 11 companies selected by respondent’s expert as comparable to           
          TPC, a brief description of the primary type of content material            
          which each company, as of July 31, 2000, published, and the                 
          amount of each company’s 1997 reported revenue:                             

          Company                 Publication Material           1997 Revenue         
          TPC                 Industrial buying directories  $  240,110,000           
          American EducationalEducational textbooks, journals, and8,392,000                
          Products            games                                                   
          Harcourt General, Inc. Scholarly books and journals,3,691,639,000            
                              educational material, popular books.                    
                              Owns the Neiman Marcus Group, Inc.                      
          Houghton Mifflin Co.Textbooks and educational reference797,320,000              
                              materials                                               
          Intervisual Books, Inc. Popup and dimensional novelty books       18,733,000
          McGraw-Hill Co.     Educational books and magazines.3,534,095,000            
                              Owns Standard & Poor’s and four                         
                              television stations                                     
          Millbrook Press, Inc.Children’s nonfiction books    12,573,000               
          Nelson (Thomas), Inc.Religious and family value books243,436,000              





Page:  Previous  22  23  24  25  26  27  28  29  30  31  32  33  34  35  36  37  38  39  40  41  Next

Last modified: May 25, 2011