The New Owners of CGC 8 8

[Chicago Boy]

and now Blackstone is buying AIG insurance

[GreatCaesarsGhost]

5 minutes ago, Chicago Boy said:

and now Blackstone is buying AIG insurance

I’m surprised it’s not Collectibles Insurance Services, LLC

[batman_fan]

1 hour ago, Chicago Boy said:

and now Blackstone is buying AIG insurance

Owning the retirement side of things should enable a lot more capability to manipulate the markets.

[divad]

On 7/15/2021 at 10:28 AM, Chicago Boy said:

and now Blackstone is buying AIG insurance

Are they paying back the government for their $250 billion bailout? 

[LDarkseid1]

Looks like Blackstone strikes again. They're delving into quite a bit of unique business ventures these days, but I mean that's what private equity firms do. So makes sense lol.

 

https://www.wsj.com/articles/reese-witherspoons-hello-sunshine-to-be-sold-to-media-company-backed-by-blackstone-11627914600

[Aman619]

good luck with this...  Apple balked on buying them...  Weird that Blackstone thinks the movie business is ripe for a "reimagining" by a rich outsider..  Hollywood history is littered with the carcasses of people with too much money and dreams of show business.  

[buttock]

On 8/3/2021 at 1:31 PM, Aman619 said:

good luck with this...  Apple balked on buying them...  Weird that Blackstone thinks the movie business is ripe for a "reimagining" by a rich outsider..  Hollywood history is littered with the carcasses of people with too much money and dreams of show business.  

I bet they could get Quibi cheap. 

[onlyweaknesskryptonite]

On 8/3/2021 at 2:31 PM, Aman619 said:

good luck with this...  Apple balked on buying them...  Weird that Blackstone thinks the movie business is ripe for a "reimagining" by a rich outsider..  Hollywood history is littered with the carcasses of people with too much money and dreams of show business.  

Also may explain why a subsidiary of Blackstone bought them . A lot of these investment firms make purchases like this  to utilize the best parts of a company and cannibalize the rest for a profit.  

[Aman619]

Im not too familiar with how Blackstone segregates all their purchases... seems like using a "subsidiary" is just part of their MO.  Aren't they more like a pile of investor's cash that the investors can direct their cash either into Blackstone as a whole, or also into smaller more targeted investments like this one?

[tth2]

On 8/4/2021 at 3:31 AM, Aman619 said:

Hollywood history is littered with the carcasses of people with too much money and dreams of show business.

Hollywood insiders look at outside money coming into their industry the same way that comic book insiders look at outside money coming into their hobby.

[Aman619]

So true. 

[lou_fine]

On 8/3/2021 at 8:56 AM, LDarkseid1 said:

Looks like Blackstone strikes again. They're delving into quite a bit of unique business ventures these days, but I mean that's what private equity firms do. So makes sense lol.

 

https://www.wsj.com/articles/reese-witherspoons-hello-sunshine-to-be-sold-to-media-company-backed-by-blackstone-11627914600

This $900M investment must have been pretty newsworthy as I saw it featured on the CNBC Business News along with stories about it on some of the other networks and streaming news.  

Unless I missed it, I certainly didn't see the same media hype when Blackstone did their $500M investment to take over CCG. 

[Chicago Boy]

On 8/3/2021 at 10:00 PM, lou_fine said:

This $900M investment must have been pretty newsworthy as I saw it featured on the CNBC Business News along with stories about it on some of the other networks and streaming news.  

Unless I missed it, I certainly didn't see the same media hype when Blackstone did their $500M investment to take over CCG. 

Renee Witherspoon > Funny Books.  Been doing some research on Stephen Schwarzman.  Not a guy I would even say "hi" to at Temple.

[Aman619]

Well aside from the obvious answer to this, they”news” here is the streaming wars, begun they have.   Now that we have so many startup Netflix competitors all rushing to survive the first wave and then compete with Netflix (and Amazon’s head start) the pressure is on Apple and Disney, peacock and the rest for CONTENT. To do that you buy a production company and take it in-house. 
 

so this purchase and this price is the starting point for more to come.  And the Media is following this story (as they are part of it too) so it hits close to home   — Far closer than a small collectibles grading company did. 
 

Seems to me this is part of Blackstones hope with this move. And flipping it to one of the streamers later is a safe bet for their out later on. Maybe at a decent profit. 

[tth2]

On 8/4/2021 at 11:00 AM, lou_fine said:

This $900M investment must have been pretty newsworthy as I saw it featured on the CNBC Business News along with stories about it on some of the other networks and streaming news.  

It's news because it's Hollywood and tied to a celebrity.

On 8/4/2021 at 11:00 AM, lou_fine said:

Unless I missed it, I certainly didn't see the same media hype when Blackstone did their $500M investment to take over CCG. 

Because $500m is peanuts these days. 

For a firm like Blackstone, it's such a tiny deal that I'm still surprised they did it, although I wonder how much (or little, rather) equity they actually had in the fund that made the acquisition.  $500m just doesn't move the needle for them.  

[LDarkseid1]

On 8/4/2021 at 7:00 AM, tth2 said:

It's news because it's Hollywood and tied to a celebrity.

Because $500m is peanuts these days. 

For a firm like Blackstone, it's such a tiny deal that I'm still surprised they did it, although I wonder how much (or little, rather) equity they actually had in the fund that made the acquisition.  $500m just doesn't move the needle for them.  

All the comics I could buy with $500 million