agree with michaeld to some extent - this is what I meant by top of cycle - monster M&A year was 2006, tradition has it that we should begin to see cash redirected from large caps to small caps - but in the nature of AFN's business we should have witnessed by now massive profits on the back of stock market enthusiasm, NOT large losses... and if the market does spin downwards then losses will surely be increased as both subs and ads dwindle?
but on the other hand internet set to see phase 2 growth - will AFN be part of it?
Cash Cow looking more like a big Cow Cash Pat at the mo