Alongside its Q3FY19 earnings results on October 29, Modern Times Group AB (MTGB SS) announced the initiation of a strategic review of its gaming vertical, potentially leading to an additional listing in the United States (currently one of the biggest e-sports markets in the world). This would be the first pure-play e-sports business listed in the United States and widen the gap between MTGB and its peers in the space. Meanwhile, the anticipated launch of 5G will bring in additional revenue.
15 Nov 2019
Inorganic growth has been the name of the game for Fox Corp. (FOXA) since the Entertainment assets (Twenty-First Century Fox, Inc. - TFCF, FOXA's former Parent) were acquired by The Walt Disney Co. (DIS) in Q1 2019. Most recently, FOXA has completed the acquisition of three TV stations from Nexstar Media Group and Credible Labs, as well as maintaining a strong offering of sports and entertainment (The Masked Singer), which have all contributed to this quarter beating estimates.
14 Nov 2019
In its first earnings release since the completion of its Reverse Morris Trust with DISH Network Corp. (DISH), EchoStar Corp. (SATS) has demonstrated the benefits of separating the BSS business and focusing on its more lean Hughes operations. Additional joint ventures in Brazil and Israel have been bolstered with the fresh acquisition of Helios Wire Corp., a satellite-enabled IoT connectivity company with huge potential for SATS.
13 Nov 2019
Last week, Madison Square Garden (MSG) announced its Q1FY20 results as well as the new structure for its upcoming Q1 2020 Spinoff. This time, instead of Spinning off the Sports Business, MSG will now be Spinning off its Entertainment business with no intention of this entity of retaining a stake in MSG Sports (originally to hold a third equity stake post-Spin). Likewise, there has been more dialogue with its top shareholders and MSG’s management. MSG remains a high conviction idea.
13 Nov 2019
A complicated international ownership situation will be simplified when SunPower Corp. (SPWR) Spins off its solar power manufacturing business, to be called Maxeon Solar and expected to be separated in Q2 2020. Currently majority-owned by French utilities company Total SA (FP FP), SPWR is a US-based company with manufacturing (Maxeon) in Malaysia and the Philippines and assembly plants in Mexico. The Spinoff will slim the company down to its domestic distribution operations.
12 Nov 2019
Following the Spinoff of its 20% stake in Modern Times Group AB (MTGB SS) in August 2018, Kinnevik AB (KINVB SS) continues its slimming down of the portfolio by divesting its entire 37.2% stake in Millicom International Cellular SA (TIGO) to shareholders through a distribution of Swedish depositary receipts (SDRs), which are then convertible to Millicom shares listed on the NASDAQ. As of yesterday (November 7), the distribution date and ratio have been disclosed.
08 Nov 2019