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Terms of Use have been amended effective October 6, 2019. Make sure you are aware of the new rules! Please visit this thread for details: https://www.mibuzzboard.com/phpBB3/view ... 16&t=48619
Lew Dickey UPDATE
- Colonel Flagg
- Posts: 1405
- Joined: Tue Nov 18, 2008 3:54 pm
- Colonel Flagg
- Posts: 1405
- Joined: Tue Nov 18, 2008 3:54 pm
Re: Lew Dickey UPDATE
I would enjoy seeing what MW thinks of Lew's latest caper. Will Lew still be able to close the deal? Will SONG hit 400 bucks a share? Stay tuned.
"Don't you knock when you enter a room?"
Re: Lew Dickey UPDATE
Well, it's the 26th, and???
I confirm all my information through a high, white whore's souse!
- MWmetalhead
- Site Admin
- Posts: 13051
- Joined: Sun Oct 31, 2004 11:23 am
Re: Lew Dickey UPDATE
Akazoo is a good company, from what I've read. It is basically Asia and Africa's version of Spotify.
Unfortunately, I have no confidence in Lew Dickey's ability to guide that company properly. His reign at Cumulus speaks for itself. He'll probably run Akazoo into the ground, along with some add-on acquisitions that will probably occur in the next few years.
Unfortunately, I have no confidence in Lew Dickey's ability to guide that company properly. His reign at Cumulus speaks for itself. He'll probably run Akazoo into the ground, along with some add-on acquisitions that will probably occur in the next few years.
DTE Energy paid $752 million in dividends to its shareholders last fiscal year. Remember that the next time they ask the MPSC to approve rate hikes.
- Colonel Flagg
- Posts: 1405
- Joined: Tue Nov 18, 2008 3:54 pm
Re: Lew Dickey UPDATE
"Dickey Lew...before Lew can Dickey you..."MWmetalhead wrote: ↑Fri Sep 27, 2019 6:26 pmAkazoo is a good company, from what I've read. It is basically Asia and Africa's version of Spotify.
Unfortunately, I have no confidence in Lew Dickey's ability to guide that company properly. His reign at Cumulus speaks for itself. He'll probably run Akazoo into the ground, along with some add-on acquisitions that will probably occur in the next few years.
http://www.insideradio.com/free/lew-dic ... d06b2.html
Quote: Nasdaq suspended trading Akazoo, which trades as “SONG,” Friday afternoon.
"Don't you knock when you enter a room?"
- Colonel Flagg
- Posts: 1405
- Joined: Tue Nov 18, 2008 3:54 pm
Re: Lew Dickey UPDATE
MW, give us your take on this. You are the go-to guy for all of this high finance stuff!
"Don't you knock when you enter a room?"
- Colonel Flagg
- Posts: 1405
- Joined: Tue Nov 18, 2008 3:54 pm
Re: Lew Dickey UPDATE
Now there's news that Lew is trying to undo the acquisition of Akazoo by his "blank check" media company. I imagine the other investors are not pleased with this situation.
"Don't you knock when you enter a room?"
- MWmetalhead
- Site Admin
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- Joined: Sun Oct 31, 2004 11:23 am
Re: Lew Dickey UPDATE
Some of you may have missed this earlier thread from me:
https://www.mibuzzboard.com/phpBB3/view ... ey#p606699
Even if the acquisition were to be unwound, what good would that do for Dickey and his dopey Modern Media Acquisition Co. investors? They want to be reimbursed for their losses. Good luck with that! They are going to have sue and attempt to disgorge funds from Akazoo's founder and seller, Mr. Zervos.
Good article from Forbes:
https://www.forbes.com/sites/nathanielb ... 5838c45440
Another one from Inside Radio:
http://www.insideradio.com/free/lew-dic ... e19a0.html
Lew Dickey is the last fucking person on the planet I'd trust to invest my money wisely!!! He obviously did a miserable job of due diligence pre-acquisition. Does that surprise anyone?
It wasn't Lew Dickey or a professional firm engaged by Lew Dickey who flushed out the perpetuation of financial statement fraud. It was Quintessential Capital Management - a hedge fund - who flushed it out and brought it to the forefront. If not for QCM's actions, Lew would probably still be oblivious.
Oh, did I mention that, at least initially, Lew denied the validity of QCM's allegations? He better cover his ass. He, too, might be facing class action lawsuits from his Modern Media Acquisition Co. shareholders at some point!
https://www.allaccess.com/net-news/arch ... castle-of-
P.S...read the comments that appear below the All Access article. Good stuff.
https://www.mibuzzboard.com/phpBB3/view ... ey#p606699
Even if the acquisition were to be unwound, what good would that do for Dickey and his dopey Modern Media Acquisition Co. investors? They want to be reimbursed for their losses. Good luck with that! They are going to have sue and attempt to disgorge funds from Akazoo's founder and seller, Mr. Zervos.
Good article from Forbes:
https://www.forbes.com/sites/nathanielb ... 5838c45440
Another one from Inside Radio:
http://www.insideradio.com/free/lew-dic ... e19a0.html
Lew Dickey is the last fucking person on the planet I'd trust to invest my money wisely!!! He obviously did a miserable job of due diligence pre-acquisition. Does that surprise anyone?
It wasn't Lew Dickey or a professional firm engaged by Lew Dickey who flushed out the perpetuation of financial statement fraud. It was Quintessential Capital Management - a hedge fund - who flushed it out and brought it to the forefront. If not for QCM's actions, Lew would probably still be oblivious.
Oh, did I mention that, at least initially, Lew denied the validity of QCM's allegations? He better cover his ass. He, too, might be facing class action lawsuits from his Modern Media Acquisition Co. shareholders at some point!
https://www.allaccess.com/net-news/arch ... castle-of-
P.S...read the comments that appear below the All Access article. Good stuff.
DTE Energy paid $752 million in dividends to its shareholders last fiscal year. Remember that the next time they ask the MPSC to approve rate hikes.
Re: Lew Dickey UPDATE
The comments on Lew Dickey, Jr. are priceless, because those come from those who have been personally screwed by the Dickey's. Before this all hit, a former Cumulus employee got wind that Lew was even trying to acquire some stations again!
- Colonel Flagg
- Posts: 1405
- Joined: Tue Nov 18, 2008 3:54 pm
Re: Lew Dickey UPDATE
Thanks for the update, MW. As you may or may not know, Lew has a degree from Harvard, in Business Finance.MWmetalhead wrote: ↑Sat May 30, 2020 7:29 amSome of you may have missed this earlier thread from me:
https://www.mibuzzboard.com/phpBB3/view ... ey#p606699
Even if the acquisition were to be unwound, what good would that do for Dickey and his dopey Modern Media Acquisition Co. investors? They want to be reimbursed for their losses. Good luck with that! They are going to have sue and attempt to disgorge funds from Akazoo's founder and seller, Mr. Zervos.
Good article from Forbes:
https://www.forbes.com/sites/nathanielb ... 5838c45440
Another one from Inside Radio:
http://www.insideradio.com/free/lew-dic ... e19a0.html
Lew Dickey is the last fucking person on the planet I'd trust to invest my money wisely!!! He obviously did a miserable job of due diligence pre-acquisition. Does that surprise anyone?
It wasn't Lew Dickey or a professional firm engaged by Lew Dickey who flushed out the perpetuation of financial statement fraud. It was Quintessential Capital Management - a hedge fund - who flushed it out and brought it to the forefront. If not for QCM's actions, Lew would probably still be oblivious.
Oh, did I mention that, at least initially, Lew denied the validity of QCM's allegations? He better cover his ass. He, too, might be facing class action lawsuits from his Modern Media Acquisition Co. shareholders at some point!
https://www.allaccess.com/net-news/arch ... castle-of-
P.S...read the comments that appear below the All Access article. Good stuff.
"Don't you knock when you enter a room?"
- MWmetalhead
- Site Admin
- Posts: 13051
- Joined: Sun Oct 31, 2004 11:23 am
Re: Lew Dickey UPDATE
Cumulus recently applied - and received FCC approval for - a 100 percent foreign ownership waiver.
That immediately caused me to wonder if Akazoo was in talks with Cumulus to purchase them. (Strategically, such a a marriage would be a poor fit.)
With the financial and legal turmoil Akazoo is now experiencing, I can probably safely say there is ZERO chance of such a deal ever happening now!
For a great laugh - look at Akazoo's stock chart.
https://finance.yahoo.com/quote/SONG/chart?p=SONG
The Company's stock didn't just tank on the fraud news, it also tanked big time in August 2019 (dropped about 50%), immediately preceding its merger with Lew Dickey's Modern Media Acquisition Co.
Talk about omens...guess which date the merger closed? That's right - SEPTEMBER 11 of 2019. How fitting.
That immediately caused me to wonder if Akazoo was in talks with Cumulus to purchase them. (Strategically, such a a marriage would be a poor fit.)
With the financial and legal turmoil Akazoo is now experiencing, I can probably safely say there is ZERO chance of such a deal ever happening now!
For a great laugh - look at Akazoo's stock chart.
https://finance.yahoo.com/quote/SONG/chart?p=SONG
The Company's stock didn't just tank on the fraud news, it also tanked big time in August 2019 (dropped about 50%), immediately preceding its merger with Lew Dickey's Modern Media Acquisition Co.
Talk about omens...guess which date the merger closed? That's right - SEPTEMBER 11 of 2019. How fitting.
DTE Energy paid $752 million in dividends to its shareholders last fiscal year. Remember that the next time they ask the MPSC to approve rate hikes.
Re: Lew Dickey UPDATE
How can an American (or Canadian) broadcaster be more than 49% foreign-owned? Isn't that what killed The Big 8 when RKO couldn't own CKLW?
- MWmetalhead
- Site Admin
- Posts: 13051
- Joined: Sun Oct 31, 2004 11:23 am
Re: Lew Dickey UPDATE
How can an American broadcaster be more than 49% foreign-owned?
Simple. The FCC is (evidently) now willing to approve waivers.
If you think that's crazy, there's an obscure daytime-only AM station in the Washington, D.C. area that runs propaganda promoting the Chinese communist government.
Simple. The FCC is (evidently) now willing to approve waivers.
If you think that's crazy, there's an obscure daytime-only AM station in the Washington, D.C. area that runs propaganda promoting the Chinese communist government.
DTE Energy paid $752 million in dividends to its shareholders last fiscal year. Remember that the next time they ask the MPSC to approve rate hikes.
- audiophile
- Posts: 9031
- Joined: Sat Dec 04, 2004 9:21 pm
- Location: Between 88 and 108 MHz.
Re: Lew Dickey UPDATE
I disagree with the FCC's waiver in this case. I might agree with on a single station in a border town with a mixed nationality/heritage owner.
There is also a Russian propaganda station somewhere in the Midwest.
There is also a Russian propaganda station somewhere in the Midwest.
Ask not what your country can do FOR you; ask what they are about to do TO YOU!!
- MWmetalhead
- Site Admin
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- Joined: Sun Oct 31, 2004 11:23 am
Re: Lew Dickey UPDATE
Cumulus does not deserve special treatment. Either allow all broadcasters who are subject to SEC regulation (i.e. shares are publicly traded and/or bonds are publicly registered, and therefore, all quarterly & annual financial reporting is of public record) to have majority foreign ownership or allow none at all.
Radio Sputnik - the Russian "news" agency - airs in Washington, D.C. on 1390 WZHF (plus translator 105.5 FM) on a 24/7 basis as well as Kansas City's AM 1140 KCXL (plus translator 102.9 FM) on a part-time basis.
Radio Sputnik - the Russian "news" agency - airs in Washington, D.C. on 1390 WZHF (plus translator 105.5 FM) on a 24/7 basis as well as Kansas City's AM 1140 KCXL (plus translator 102.9 FM) on a part-time basis.
DTE Energy paid $752 million in dividends to its shareholders last fiscal year. Remember that the next time they ask the MPSC to approve rate hikes.