Yeah I read their stuff. So if they convert their pref into equity AND this microcap's multiple suddenly doubles, then maybe they can make 22%? And that's also on '24 EBITDA, which is nearly double LTM.
Idk, seems like wishful thinking. Even if so, the pref has no reason to do anything now.
Liberty owns 30% of Charter. Malone and Maffei obvi see some potential in SCOR, or have some dedication to fostering competition to unseat the Nielsen monopoly. MRC accreditation taking longer because tech changing so fast. They aren’t going to let Cerberus or anyone steal the equity. Prob won’t accept a deal below $2.45/sh. Some talks about merging with iSpot to achieve greater scale. They are working on figuring it out - cap structure likely resolved before the annual meeting. The biz looks a lot better now than it did 12 months ago. Rendino and Wolfe over at TURN have done some good work getting rid of preferred overhangs. HEAR was up 350% when they swapped the preferred for common. The Street was similar. SCOR swapping preferred for common in conjunction with an iSpot merger would be ideal as it solves the cap structure and helps w scale. - @Price_to_Value on Twitter.
Charter, Liberty, and Cerberus are aligned in their pref equity ownership so I don't think any of them are worried about either of them stealing the company.
If they can solve the cap structure, sure, but don't see what's the incentive for them to swap their preferred into common (I wouldn't if I were them).
great coverage, thank you!
https://ir.180degreecapital.com/press-releases/detail/385/180-degree-capital-corp-presents-analysis-supporting
Yeah I read their stuff. So if they convert their pref into equity AND this microcap's multiple suddenly doubles, then maybe they can make 22%? And that's also on '24 EBITDA, which is nearly double LTM.
Idk, seems like wishful thinking. Even if so, the pref has no reason to do anything now.
Liberty owns 30% of Charter. Malone and Maffei obvi see some potential in SCOR, or have some dedication to fostering competition to unseat the Nielsen monopoly. MRC accreditation taking longer because tech changing so fast. They aren’t going to let Cerberus or anyone steal the equity. Prob won’t accept a deal below $2.45/sh. Some talks about merging with iSpot to achieve greater scale. They are working on figuring it out - cap structure likely resolved before the annual meeting. The biz looks a lot better now than it did 12 months ago. Rendino and Wolfe over at TURN have done some good work getting rid of preferred overhangs. HEAR was up 350% when they swapped the preferred for common. The Street was similar. SCOR swapping preferred for common in conjunction with an iSpot merger would be ideal as it solves the cap structure and helps w scale. - @Price_to_Value on Twitter.
Charter, Liberty, and Cerberus are aligned in their pref equity ownership so I don't think any of them are worried about either of them stealing the company.
If they can solve the cap structure, sure, but don't see what's the incentive for them to swap their preferred into common (I wouldn't if I were them).