Hit #21

Cox Enterprises is taking cable operator Cox Communications (COX) private at $32/share, a 16% premium over its most recent price.
But this is of little comfort to me since my average is around $33/share!
At 32 this is still undervalued - expect more such companies, that get no respect, to go private.

I may not lose money after all - COX zoomed up and is trading at around 33.7 - looks like someone is expecting the offer to go up!

The entire cable sector looks ripe for consolidation - in particular rural/small-town cable operators
Insight Communications (ICCI)
Mediacom Communications (MCCC)
should be snapped up soon by one of the majors. I have a few of both and am adding more.

In fact, the only cable company that is not worth owning today is the debt-laden Charter Communications.

All the others have something to offer -
Comcast (CMCSKA) : undervalued,
Time Warner (TWX) : undervalued,
Cablevision (CVC) : takeover target.

The 2 other undesirable ones have already gone bankrupt -
Adelphia
RCN Cable