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CGC/CCG to be sold...
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Started by carcrawfordfan,

459 posts in this topic

707comics

707comics

Posted
Posted
8 minutes ago, D84 said:

Yup. That's these guys.

Some big names in the portfolio .... I wonder if we will be able to drop off books at Michaels for CGC grading someday.

I also found the "criticism" section a good read :)

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Yeahiwasder4dat

Yeahiwasder4dat

Posted
Posted
2 minutes ago, adampasz said:

.005 cents per emoji!

:tonofbricks:

If there's a way to nickel and dime, I'm sure they'll find it. I remember when RuneScape, old browser game, was bought out by an investment company. Nightmare. I'm not necessarily against one company buying out another but companies like that go hard for every cent.

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snitzer

snitzer

Posted
Posted
16 minutes ago, Yeahiwasder4dat said:

If there's a way to nickel and dime, I'm sure they'll find it. I remember when RuneScape, old browser game, was bought out by an investment company. Nightmare. I'm not necessarily against one company buying out another but companies like that go hard for every cent.

% of each sale done through the boards…(ie a marketplace)

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James J Johnson

James J Johnson

Posted
Posted (edited)

My only question is Why? Why are the current owners selling? $500 Million is a magnificent sum, but don't the current owners of CGC already have so much money and inventory that $500 million is a small amount by comparison? Although a small part of the enormity, Isn't CGC too integral a part of that total arena of their business to relinquish control and ownership of?  Why the sale of any portion of it? ???

Edited by James J Johnson
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Funnybooks

Funnybooks

Posted
Posted
1 minute ago, James J Johnson said:

My only question is Why? Why are the current owners selling? $500 Million is a magnificent sum, but don't the current owners of CGC already have so much money and inventory that $500 million is a small amount by comparison? Although a small part of the enormity, Isn't CGC too integral a part of that total arena of their business to relinquish control and ownership of?  Why the sale of any of any portion of it? ???

To scale or the owners are tired of dealing with the everyday bullkarp of running a business and are willing to relinquish control, cash out along the way and have others run the day to day operations.

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Funnybooks

Funnybooks

Posted
Posted
Just now, James J Johnson said:

Relinquish control of the goose that lays the golden eggs? ???  

It's hard to say from the outside looking in...from our perspective, there's a golden goose laying golden eggs but in reality, the goose may be a roast duck hanging out on display at a Chinese restaurant. We are not privy to CgC's finances so all we can do is provide conjecture here on the boards without any real facts. I don't disagree with your assessment. 

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Bronty

Bronty

Posted
Posted
18 minutes ago, James J Johnson said:

My only question is Why? Why are the current owners selling? $500 Million is a magnificent sum, but don't the current owners of CGC already have so much money and inventory that $500 million is a small amount by comparison? Although a small part of the enormity, Isn't CGC too integral a part of that total arena of their business to relinquish control and ownership of?  Why the sale of any portion of it? ???

It’s a good question.  Halperin mentioned in an interview that he and Ivy own some of cgc, why would they (and basically heritage by extension) give that up.    Had to just be about the zeroes I suppose.   500m is a lot. I can’t imagine cgc was worth 1/4 of that before this collectibles boom so maybe they just felt there was never going to be a better time.

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WolverineX

WolverineX

Posted
Posted
Just now, Bronty said:

It’s a good question.  Halperin mentioned in an interview that he and Ivy own some of cgc, why would they (and basically heritage by extension) give that up.    Had to just be about the zeroes I suppose.   500m is a lot. I can’t imagine cgc was worth 1/4 of that before this collectibles boom so maybe they just felt there was never going to be a better time.

Generational wealth.  

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FlyingDonut

FlyingDonut

Posted
Posted
5 hours ago, JollyComics said:

My uncle was a millionaire and Air Cargo (SF area) founder before he sold 95% of his company to other company and he owned 5% stake of the his company.  For only next five year, his former company was dissolved. He was bought out. Now, he had nothing left.

Except for his giant check. I'm not sure what your point is here. Your uncle sold his company for a big pile of money. His former company - the key word is "former - was dissolved. Your uncle had nothing to do with it, except counting his money from his giant check.

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James J Johnson

James J Johnson

Posted
Posted
16 minutes ago, Funnybooks said:

It's hard to say from the outside looking in...from our perspective, there's a golden goose laying golden eggs but in reality, the goose may be a roast duck hanging out on display at a Chinese restaurant. We are not privy to CgC's finances so all we can do is provide conjecture here on the boards without any real facts. I don't disagree with your assessment. 

True, we don't now what's in the ledgers; how much of it is red, how much of it black. But does CGC have to make money> Didn't they operate in the red for their first 10 years of operation? Did owning CGC contribute to the overall bottom line of the owners on a whole, even if operating in the red? 

Heritage and CGC are the two reasons why this hobby is at a stage where a sale number of $500 million can be asked for partial or total ownership of a grading service. 

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onlyweaknesskryptonite

onlyweaknesskryptonite

Posted
Posted
7 minutes ago, Buzzetta said:

Who gets custody of Kav in the purchase? Does he go with Harshen or is he now with Blackstone?  

They will both claim a Dingo ate that baby.. 

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