With its stock price below $1 per share, Cinedigm set a stock buyback and plans to rebrand the company to emphasize its streaming assets. In a letter to shareholders, Cinedigm CEO Chris McGurk said the company plans to repurchase up to 10 million shares of its stock.
Most Wall Street analysts, eager to sell stocks, pull their punches when faced with questions that might lead to uncomfortable conclusions. But Bernstein Research’s Todd Juenger and MoffettNathanson Research’s Michael Nathanson have proven their fearlessness over the years this morning both gave thoughtful reports that reach different conclusions about a key question: How much longer can the go-go period for media stocks last?
Journal Communications Inc. said it has acquired the super-voting shares of the Harry Grant family for $6.25 million in cash and $25.6 million in debt. Grant was the company’s president when it launched an employee-ownership plan in 1937.