I wanted to stop by and talk briefly about the conversations there have been in regard to our authorized shares . Our goal is to grow into a major "Media Company in the coming years. We have the foundation with the internet side, out of home and now a broadcast network. It will take time and hard work to get there of course but a step we can take now is in structuring the company to be prepared for this long term growth.
If you look at the companies that we see as leaders in the "Media Company" space you will find the share structure of their authorized below. Again we are a long ways away from emulating the success of these companies but our goal is to move in that direction.
GOOG 9 Billion Time Warner 8.333 billion Comcast 7.5 billion News Corp 6 billion Sony 3.6 billion
These companies also have others classes of stock . This just reflects the common stock for each. Again, we are a long way for our goals but we are able to build the company with the proper foundation. Moving the authorized to 4 billion is a step in that direction. It means we will not have to make changes in the years down the road and it makes the cost of funds much less expensive when we need short term financing as revenues begin to come in.