Pink's Bottom Line on Media, Money and Sports
Media company sale, used car prices and the US men's national basketball team
In today’s newsletter, I discuss the sale of media company Hello Sunshine, soaring used car prices and an improving US men’s national basketball team.
MEDIA: Hello Sunshine Sale
Hello Sunshine produces a variety of content — television shows, podcasts, movies and more — on multiple platforms including The Morning Show and Big Little Lies, two popular television shows.
Pink's Bottom Line
While neither party disclosed the price of the transaction, The Wall Street Journal is reporting that the company could be valued at $900 million.
In any case, the sale is the latest indication that strong content, like that produced by Hello Sunshine, commands tremendous value in today’s marketplace.
Look for big media, big tech and private equity to continue to buy top independent content firms — at top dollar — in the next year.
MONEY: Used Car Prices
Used car prices, which have increased sharply during the pandemic, are continuing their inexorable climb higher.
The average price of a used car jumped 32.7% on an annual basis in June, according to an analysis by iSeeCars.com, an online car marketplace.
Pink's Bottom Line
A shortage of microchips is hindering new car production around the world, limiting the supply of new vehicles.
As a result, there’s more demand for used cars plus used car owners are keeping their current vehicles rather than selling them.
All of that is pushing used car prices higher across the board though once the chip shortage ends, used car price increases should moderate.
SPORTS: USA Men’s Basketball
Team USA now faces Australia on Thursday with the winner advancing to the gold medal game.
Pink's Bottom Line
The US men’s team has struggled recently, including a loss to the French team in the Group stage and two other losses in exhibition games last month.
However, Team USA, led by superstar Kevin Durant, looks like it is finding its groove at the moment — and the men’s team should ultimately win the gold medal.
Interestingly, Slovenia plays France in the other semifinal game — so should the French team win, Team USA would have the opportunity to avenge its Group Stage loss to France in the gold medal game.
That said, I expect Slovenia, led by Luka Doncic, to win against France but to lose to Team USA in the gold medal game.
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)