Pink's Bottom Line on Media, Money and Sports
Vice Media, small business and the NBA's Eastern Conference
In today’s newsletter, I discuss Vice Media potentially going public, small business optimism and worry and the NBA’s Eastern Conference.
MEDIA: Vice Media
Vice Media, a digital media, news, broadcasting and entertainment company, is reportedly looking to go public via a Special Purpose Acquisition Company or SPAC.(Click here to read The Wall Street Journal story about Vice Media.)
A SPAC is a company that has no real commercial operations, but it is already publicly listed. That SPAC, in turn, would merge with a private company — like Vice Media, for example — and that new entity together would be listed on the public markets.
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If Vice Media does go public via a SPAC, its valuation reportedly would be in the neighborhood of $3 billion, a far cry from its reported estimated valuation of close to $6 billion about four years ago.
That lower valuation for Vice, which once was a darling of digital media, indicates just how tough things are for digital media companies in general.
MONEY: Small Business
It is a mixed outlook for small businesses, according to the NFIB Small Business Optimism Index, which was released earlier today.
The NFIB Small Business Optimism Index increased in April from March levels, and it is up strongly since January.
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However, in that same survey, small business owners surveyed said that their biggest challenge is hiring — they say they can’t find enough workers to fill existing job openings.
If small business can’t fill those positions, it could have implications for the overall strength of the US economic recovery.
That’s because small business is an engine of growth for the economy in this country, but it will need the necessary workers in order to create that growth.
SPORTS: NBA’s Eastern Conference
Jaylen Brown, one of two young, star guards on the Boston Celtics, will miss the rest of the season due to injury.
Brown, along with backcourt teammate Jayson Tatum, arguably were the best guard tandem in the NBA’s Eastern Conference until Brown’s injury.
It also means that Brown will miss the playoffs, and without him playing, it’s likely that the Celtics will make an early exit this postseason.
With Brown, I thought that the Celtics would have contended for the Eastern Conference title.
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In any case, that leaves one of three teams — the Brooklyn Nets, the Milwaukee Bucks and the Philadelphia 76ers — as the likely winner of the Eastern Conference.
If Brooklyn is healthy and its three stars — Kevin Durant, James Harden and Kyrie Irving — are playing, the Nets are probably the team to beat.
However, the Bucks, led by reigning two-time MVP Giannis Antetokounmpo, are flying under the radar and just might give the Nets all they can handle this postseason.
Jeremy Pink is currently COO of Geniecast, a leading virtual content and experience company. He is the former CEO of private-equity backed Broadcast Sports International where he helped lead the company to a successful sale and exit during his tenure there. He is also a former CNBC television executive in New York, London and Singapore.
The information contained in this communication is strictly for general informational and entertainment purposes and is not meant to be construed as financial, investment, tax, or legal advice. This communication is not a solicitation to buy or sell any securities. I am not a financial advisor or offering professional advice of any kind. Users should not act upon the content or information found within this communication without first seeking professional advice appropriate for their individual situation. Decisions based on information contained in this communication are the sole responsibility of the user, and use of this communication and its contents constitutes an explicit understanding and acceptance of the foregoing disclaimers.
(Newsletter Editor: Karina Pink)