The Varsity Media Merger Mania & The Celtics L.B.O.
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Nov 27, 2024 Bill Cohan, a partner at Puck and former investment banker, joins the discussion on the shifting landscape of media mergers. He analyzes Comcast’s spin-off plans, private equity's looming role, and the broader implications for the industry. Cohan also shares insights into Wyc Grousbeck’s leveraged buyout of the Boston Celtics, detailing the impressive rise in franchise value and the potential buyers circling the team, including Steve Pagliuca and Jeff Bezos. It’s a riveting conversation on sports and media's intertwined fates.
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Redstone's Disapproval
- Sumner Redstone would have disapproved of the current state of Paramount.
- His daughter, Shari Redstone, inherited control and oversaw value destruction.
Smart Moves
- Fox selling its entertainment assets to Disney was a smart move.
- Comcast spinning off its cable networks is a similar strategy.
Spin-off Trend
- Fox and Comcast spinning off assets signals a trend.
- David Zaslav might follow suit with Warner Bros. Discovery.