• When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.

The New Owners of CGC
8 8

Started by adamstrange,

216 posts in this topic

Paul © ® ⚽️💙™

Paul © ® ⚽️💙™

Posted
Posted
1 minute ago, Qalyar said:

Their real estate division is pretty awful. Their investment management branch is less obviously malicious; many of their purchased companies have done quite well since acquisition.

Still the same umbrella right?  The left hand knows what the right is doing?

Link to comment
Share on other sites
N e r V

N e r V

Posted
Posted

Someone very, very close to me works in one of their California offices…:eyeroll:

That said, it’s probably good for CGC to have that much money behind them for future plans but I’m not sure if the current CGC heads will be in alignment with what Blackstone’s interest may be. Kind of like when a new owner takes over a sports team and sometimes works with the current coach and sometimes replaces them for not having the same “vision”. The sheer fact it’s Blackstone buying them shows the slabbing industry and collectible comics are on the radar of whales of business these days…

Link to comment
Share on other sites
N e r V

N e r V

Posted
Posted
6 hours ago, Mr.Fantastic said:

I wonder if CGC has plans to go public now?

The Certified Collectibles Group (CGC)

NYSE - NYSE Delayed Price. Currency in USD
Add to watchlist
Link to comment
Share on other sites
lou_fine

lou_fine

Posted
Posted
6 hours ago, thunsicker said:
6 hours ago, fifties said:

I may be behind the curve (as usual), but;

Quote

Blackstone (NYSE:BX) announced today that funds managed by its Tactical Opportunities business (“Blackstone”) have agreed to acquire a majority stake in the Certified Collectibles Group (“CCG”)

Is CGC the same entity as CCG?

CCG is the parent company for CGC (Comics), NGC (Coins), PMG (Paper Money), ASG (Stamps), CSG (Sports Cards), CCS(Comics Conservation), etc., etc.

Or to put it in more simplified non-business terms...........CGC is like a grain of sand, while CCG is the sandbox which CGC's grain of sand resides in, and the Blackstone Group is the the entire beach which CCG's sandbox resides in.  :bigsmile:

From the report, it sounds as though this transaction places a value on CCG of more than $500M, while the market cap of the Blackstone Group itself which trades on the NYSE is approaching $120B.  :gossip:

Link to comment
Share on other sites
lou_fine

lou_fine

Posted
Posted (edited)
6 hours ago, G G ® ™ said:

Why do I get the feeling, none of this will benefit the collector?  hm

Well, nothing to see here then as didn't we already find this out back in 2005 when the collecting base found out it was really all about the top and bottom lines for the ownership group at CCG.  :gossip:

Especially since everything they've put in place to date has serve only to reinforce this point here.  :devil:

Not so sure about the comic book hobby itself, but most definitely better for the comic book marketplace that CGC is here. (thumbsu

Edited by lou_fine
Link to comment
Share on other sites
  • Popular Post
GreatCaesarsGhost

GreatCaesarsGhost

Posted
  • Popular Post
Posted
3 hours ago, lou_fine said:

Well, nothing to see here then as didn't we already find this out back in 2005 when the collecting base found out it was really all about the top and bottom lines for the ownership group at CCG.  :gossip:

Especially since everything they've put in place to date has serve only to reinforce this point here.  :devil:

Not so sure about the comic book hobby itself, but most definitely better for the comic book marketplace that CGC is here. (thumbsu

I can’t disagree.

but knowing what we now know, I wonder if the relaxed grading on the Promise Collection, which helped create a $22 million auction, was part of a mating ritual between suitor and bride

Link to comment
Share on other sites
Paul © ® ⚽️💙™

Paul © ® ⚽️💙™

Posted
Posted
1 hour ago, GreatCaesarsGhost said:

I can’t disagree.

but knowing what we now know, I wonder if the relaxed grading on the Promise Collection, which helped create a $22 million auction, was part of a mating ritual between suitor and bride

Well, someone ended up getting :censored:.

Link to comment
Share on other sites
  • Popular Post
Paul © ® ⚽️💙™

Paul © ® ⚽️💙™

Posted
  • Popular Post
Posted
31 minutes ago, vheflin said:

New grade increments will further monetize the demand for highest graded ...

9.65

9.7

9.75

9.775 (so close yet so far)

9.825

9.850

9.875

etc.

Bring back 9.4 as the top gun.  :sumo:

I've said it before but the micro-managing of grades from 9.4 to 10.00 has caused incredible abuse and manipulation in the hobby .

If a book is near mint, great, but how can a book be near mint plus etc?  Crazy to me.

2c

Link to comment
Share on other sites
  • Popular Post
N e r V

N e r V

Posted
  • Popular Post
Posted
6 hours ago, lou_fine said:

Or to put it in more simplified non-business terms...........CGC is like a grain of sand, while CCG is the sandbox which CGC's grain of sand resides in, and the Blackstone Group is the the entire beach which CCG's sandbox resides in.  :bigsmile:

From the report, it sounds as though this transaction places a value on CCG of more than $500M, while the market cap of the Blackstone Group itself which trades on the NYSE is approaching $120B.  :gossip:

Wow. I didn’t realize Blackstone’s market cap was almost as much as Bedrock’s…:whatthe:

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
8 8
Go to topic listing