Welcome to the show folks...
Bit of a slow news day, at least for me, so here are a couple of short bits...
1. I GUESS IT WASN'T LUCIFER AFTER ALL:
Well, since no one commented of how they think The Weinstein Co. got out of debt on yesterday's post, I might as well tell you how they did it. TWC's 200+ film library is now the property of their creditors Goldman Sachs, Ambac, and some guy named Louie the Leg-breaker. (Okay, I made that last one up.)
So now the Bros. Weinstein can rebuild their company without the revenue made by having a film library, and their creditors have a bunch of films that cost too much and made too little.
For some reason, I don't know who to congratulate, or for what?
2. OH CARL, YOU CUT-UP!
Renegade shareholder Carl Icahn isn't too keen on reports that his takeover target Lionsgate has renewed interest in merging with the debt crippled MGM. In fact, he said:
"It's analogous to a couple not being able to pay their mortgage on a little house and starting to negotiate on a big, overpriced mansion that's rumored to be haunted."
Couldn't have said it better myself.
Lionsgate is a mid-sized company with a debt load that's a hassle for a mid-size company.
MGM is a formerly large, now small company, with a debt load that's a hassle to a huge company, death to a small or mid-sized company.
While Icahn says it's not impossible, and it isn't, it's probably not prudent.
Bit of a slow news day, at least for me, so here are a couple of short bits...
1. I GUESS IT WASN'T LUCIFER AFTER ALL:
Well, since no one commented of how they think The Weinstein Co. got out of debt on yesterday's post, I might as well tell you how they did it. TWC's 200+ film library is now the property of their creditors Goldman Sachs, Ambac, and some guy named Louie the Leg-breaker. (Okay, I made that last one up.)
So now the Bros. Weinstein can rebuild their company without the revenue made by having a film library, and their creditors have a bunch of films that cost too much and made too little.
For some reason, I don't know who to congratulate, or for what?
2. OH CARL, YOU CUT-UP!
Renegade shareholder Carl Icahn isn't too keen on reports that his takeover target Lionsgate has renewed interest in merging with the debt crippled MGM. In fact, he said:
"It's analogous to a couple not being able to pay their mortgage on a little house and starting to negotiate on a big, overpriced mansion that's rumored to be haunted."
Couldn't have said it better myself.
Lionsgate is a mid-sized company with a debt load that's a hassle for a mid-size company.
MGM is a formerly large, now small company, with a debt load that's a hassle to a huge company, death to a small or mid-sized company.
While Icahn says it's not impossible, and it isn't, it's probably not prudent.
Hollywood bookkeeping, now that would be a great screenplay.In the case of the Weinsteins,well who would play those guys,actors past and present. I opt for Sidney Greenstreet and Lou Costello. Contemporary guys couldn't do it justice.
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