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daily 08/27/2015

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    • The purchase price was reported by Ironman at $650 million. The listed price did not include Ironman’s debt, which Dalian Wanda is assuming. Fourteen months ago PEP extracted $220 million from Ironman, leveraging it with a bullet loan accompanied by a $20 million revolver. Nothing was returned in consideration. In essence, PEP gave its investors something between a $220mm and $240mm down payment on the eventual sale of the company.
    • What will this mean for the management and operations of Ironman? Dalian Wanda required key employees to agree to 5-year employment agreements as a condition of the deal, and the office is not moving from Tampa, Florida. It seems to want stability and continuity.
    • Also under Cultural Industry are British luxury yacht maker Sunseeker and Swiss Sports Marketing firm Infront.
    • Infront has been Ironman’s marketing and media firm in most of Europe and Africa since 2011. Did Infront bring Dalian Wanda to Ironman? Unknown.
    • Under him is film and entertainment industry veteran Jack Q Gao. He would likely be the man to whom Andrew Messick would report.
    • He’s a former film financier and the recent head in China of both Microsoft and News Corp.
    • One can see where Ironman might fit in, as Dalian Wanda doubles down on its wager on China’s growing consumption class. Asia and Latin America have been Ironman’s biggest growth regions. While Ironman’s attention to its core business anchors – North America and Europe – will remain its focus, expect the growth of the Ironman brand in Asia (China in particular) to maintain or accelerate.

Posted from Diigo. The rest of my favorite links are here.

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