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CROCKETT LEADING COMSAT INTO NEW TERRITORIES
Published November 21, 1994
In a Baltimore SUN profile, Michael Dresser examines Comsat President & CEO Bruce Crockett, who has helped the satellite telecom company assemble "an eclectic group of businesses" -- including the Nuggets and On-Command Video. Dresser: "It's all been a little too eclectic for investors. Always wary of uncertainty, Wall Street has punished Comsat for Mr. Crockett's terrestrial ventures. From a 52-week high of $32.75, Comsat stock has lost more than one-third of its value, hitting a low of $19.375 last week. To some extent that reflects a general weakness in the [telecom] sector, but its price-earnings-ratio of 11 is paltry, even by industry standards." But Crockett, who hopes to add an NHL franchise in Denver, is "unapologetic about Comsat's growing role in the high-risk, high-reward sports and entertainment businesses": "There are some investors who would rather see us just be a communications company. We would hope over time to attract investors with different philosophies" (Baltimore SUN, 11/20).