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Re: Boom
I hate to break it to you, but the telecom industry has already come crashing down. My former employer has laid off more than 60,000 people in the past 18 months, including me, and its stock price has dropped by more than 95%. If that's not a crash, I don't know what is. None of their competitors look much better. And the sports television contracts boondoggle has already started crashing. One of Germany's largest media conglomerates, Kirch, has already gone into bankruptcy, and the likes of Rupert Murdoch are already picking its bones. The culprit? Largely the huge amount of money Kirch paid for rights to Formula 1 racing, then for the company that runs Formula 1. Paying too much for rights to movies for its pay TV channel contributed.
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