You know, we can expect media houses to shine in the next 18 months. We like NMG most, we think it has a good position in the market and the fact that they have a large war chest we can expect more acquistions as they head out of East Africa and into the rest of Africa. the only catch is the price that you pay. You see at 170, you are probably going to compound your money at 12-15% over the next 3-5 years. The catch is how much lower can you buy at. The near term catalyst for this stock is the fact that we are seeing more election fever. Look at Uganda for example, the monitor,NTV and Kfm that expect a jump in profits from the on going splash of cash by the politicians. The same wave will be in kenya in a few months time. These are all extra ordinary events in the normal business cycle. We need not to forget that NMG has historically grown its earning by almost 22% over the last 10yrs and by 15% in the last 5 years. This is a good growth stock.Only problem is that its selling at 19x 2010 earnings. But if you could get it at PEs of 12 or less, it would be a perfect defensive stock in your portfolio. But, if you consider the cash on the balance sheet, then this stock would be selling for about 155-150/-. Now if you use this as the estimate, (which is what you are actually buying the share for),by the 2010 eps, you get a PE in the range of 17 which is still expensive, but alot cheaper than the 19x. Thats my take on the media.