RE:RE:RE:RE:RE:Bankruptcy announcement after the close?Sure...what is the catalyst for anyone to believe in this POS? No new institutions, no purchases from insiders at thsi level, more spending by the CEO who doesn't care about the debt levels...
There are very few companies out there that can claim to have as much intrinsic value as this useless CEO claims, yet not be able to unlock that value. The truth is the CEO does not know that you must pay down debt, be more conservative with growth estimates and return capital to shareholders...not overpay for old, stale cartoon IP and then overspend on trying to revive the dead. The Peanuts brand is the only thing that makes any money (Sonic might add to that) In fact if they sold the Peanuts brand to Apple, sold the TV assets & Spark to other media companies, and finally sold the studio and remaining IP to another player the shareholders could probably get $4-5 / share. The problem is the current cash flows of each of these assets are being frittered away by a CEO who thinks he knows something others do not. Meanwhile the debt is risng and the equity value of the whole is shrinking and may disappear completely as the debt and spedning outpaces growth. Ellenborgan is a media reject who has wandered the landscape of hollywood only to get fired as CEO of marvel, spend a few short stints at various big players and then finally sell his overstated resume to the folks at Wildbrain. Shareholders will regret ever hearing his name....