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PostPosted: Sat Apr 13, 2019 5:14:21 pm 
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Latest news on DMG...

https://variety.com/2019/biz/asia/dmg-e ... e-comments

Quote:
China’s stock market regulator has hung a warning sign – almost literally – on Yinji Media, the listed Chinese company that split off from DMG Entertainment five years ago. The China Securities Regulatory Commission earlier this week ordered that the stock’s name be re-designated as “ST Yinji,” or “Special Treatment Yinji,” as a warning to investors of particularly high risk.

The order, which was issued Monday, is a sign of the mounting problems for Beijing-based Yinji. The company grew out of DMG Entertainment – which was founded by Dan Mintz, Peter Xiao and Wu Bing – and split off in 2014 to concentrate on marketing, film distribution in China and other entertainment-related activities. Yinji, with Xiao as its chairman, is listed on the Shenzhen Stock Exchange, and has seen its share value plummet.

The ST label slapped on Yinji was introduced by Chinese regulators in 2013. It is used either when a company has been in loss for two consecutive years or is in danger of being de-listed. The ST system also reduces stock volatility by imposing a 5% per day cap on price movements, either up or down.

After a massive 2018 loss, partly due to a writedown of impaired assets, Yinji issued a March 30 forecast, warning of further losses in the first quarter of 2019. It said that it could lose RMB33 million to RMB49.5 million ($4.9 million to $7.37 million) as a result of its capital problems, its frozen bank accounts, and the knock-on effect on day-to-day operations.

Since receiving the “special treatment” tag, ST Yinji shares have declined by the daily limit for five consecutive days, forcing the company to put out a further notice about unusual stock movements.

In other filings this week, Yinji announced that it had received a RMB6.6 million ($980,000) repayment of a loan made to co-founder Xiao. It also revealed that it had lost a civil court case over a contract for set-top decoders, and that it had been order to pay $6.7 million (RMB45 million).

Yinji encompasses the Chinese assets that had been a part of DMG Entertainment, the Beverly Hills-based company that has been involved in “Iron Man 3,” the “Point Break” remake, “Transcendence,” and the “Valiant” comics properties.

DMG and its former head of motion pictures, Chris Fenton, are currently locked in a legal battle in California, with Fenton suing DMG for a $30 million share of the profits that came from Yinji’s 2014 IPO on the Shenzhen Stock Exchange. DMG has launched a counterclaim, also seeking $30 million in damages, and accusing Fenton of fraud, breach of fiduciary duty, and negligence.

DMG is now in a vastly different situation from just a few years ago, when it announced a succession of grand projects. These included assembling a $256 million fund to make a bid for Forbes magazine, a $230 million deal with a Korean hedge fund to invest in mainland Chinese movie theaters, and appointing financial advisers to assist with a possible bid for part of Paramount Pictures.

In 2015, Mintz also announced a $600 million bid for Eastern Broadcasting, one of the largest cable TV providers in Taiwan. He was at pains to point out that the offer did not come from Yinji but from the U.S. part of DMG. The bid collapsed after a year-long probe by Taiwanese regulators.


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PostPosted: Sat Apr 13, 2019 7:43:34 pm 
Especially "dude." And "balls." Those terms work in the tech industry.
Especially "dude." And "balls." Those terms work in the tech industry.
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Joined: Tue Sep 25, 2012 12:38:36 am
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That company is nuts.


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PostPosted: Tue Apr 16, 2019 3:59:11 am 
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I am so glad i don't care anymore.


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PostPosted: Tue Apr 16, 2019 12:20:09 pm 
Personal shoe-shopper for Atom!
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Joined: Thu Oct 15, 2015 8:42:33 pm
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Sven the Returned wrote:
I am so glad i don't care anymore.


I am so glad that you don’t care anymore too!

Well, I guess that’s it then. You won’t be posting around here anymore. That’s too bad.

See ya!


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PostPosted: Tue Apr 16, 2019 3:36:55 pm 
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Joined: Mon May 27, 2013 1:35:11 pm
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:popcorn:

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PostPosted: Tue Apr 16, 2019 3:40:02 pm 
Clinkin' bottles with Aram
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AnarchoMambo wrote:
Sven the Returned wrote:
I am so glad i don't care anymore.


I am so glad that you don’t care anymore too!

Well, I guess that’s it then. You won’t be posting around here anymore. That’s too bad.

See ya!

I'd like to just say that for a while now I've been getting a bit sick of your *constant* caustic comments across the boards here. Sure, you're entitled to say whatever you want and when of course, but generally folk on the board here try to get along, even if they disagree on points of conversation. But you, with almost guaranteed certainty at any given moment, deliver some kind of sarky comment whenever you hit the 'Submit' button here, and it's getting to be a bit of a drag now.

Put bluntly: you're acting like a jerk, and I'm sure that others here, in addition to myself, would appreciate if you made a bit more effort to engage meaningfully in conversation more often than you attempt to belittle people.

Anyway, that's my first and last on that.

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PostPosted: Tue Apr 16, 2019 4:33:15 pm 
Especially "dude." And "balls." Those terms work in the tech industry.
Especially "dude." And "balls." Those terms work in the tech industry.
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Joined: Tue Sep 25, 2012 12:38:36 am
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Valiant fan since: Solar #1
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It finally stabilized a bit today on the market, not falling 5%. I think it was valued at about $700K now, surely to go lower. It means that a purchase of Valiant becomes a bit more plausible as time goes on.


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PostPosted: Tue Apr 16, 2019 4:43:55 pm 
Personal shoe-shopper for Atom!
Personal shoe-shopper for Atom!
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Joined: Thu Oct 15, 2015 8:42:33 pm
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Critique accepted, thanks for the feedback. But sometimes it’s just hard not to—-Door....left so....wide open....

Anyway, thanks for getting us back on-topic. Is DMG really worth $700K? It can’t be worth $700M, right?

A DMG sale of VEI could be the best of times, or the worst of times. I’m sort of wondering about this possibility. What would be the likely outcomes?


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PostPosted: Tue Apr 16, 2019 11:57:12 pm 
Especially "dude." And "balls." Those terms work in the tech industry.
Especially "dude." And "balls." Those terms work in the tech industry.
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Joined: Tue Sep 25, 2012 12:38:36 am
Posts: 5890
Location: Seattle
Valiant fan since: Solar #1
Favorite character: Rai
Favorite title: Toyo Harada
I estimate 770M USD based on Yinji stock market vocal. It’s likely worth less, depending on what DMG is worth in terms of capital and assets. Based on what is typical with these types of arrangements and Chinese joint ventures, probably not.


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PostPosted: Wed Apr 17, 2019 12:24:08 pm 
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Joined: Sat Jan 11, 2014 8:51:55 am
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Valiant fan since: 1992
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AnarchoMambo wrote:
A DMG sale of VEI could be the best of times, or the worst of times. I’m sort of wondering about this possibility. What would be the likely outcomes?

Almost anything is possible nowadays. My biggest fear is that Valiant ends up being sucked into Marvel or DC. That would kill Valiant for me. I've basically hated Disney and AT&T for all my adult life and now they own The Big Two publishers. I still don't hate DC, but recent activities are inching me in that direction.

I hope Valiant always stays "independent" and can sustain itself in all types of media. Archie seems to be doing okay with Riverdale and The Chilling Adventures of Sabrina on TV with still more shows to come. We all know Valiant's potential -- it's just a matter of the right people planting it in the proper place.


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PostPosted: Thu Apr 18, 2019 9:43:24 am 
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Shadowman99 wrote:
AnarchoMambo wrote:
Sven the Returned wrote:
I am so glad i don't care anymore.


I am so glad that you don’t care anymore too!

Well, I guess that’s it then. You won’t be posting around here anymore. That’s too bad.

See ya!

I'd like to just say that for a while now I've been getting a bit sick of your *constant* caustic comments across the boards here. Sure, you're entitled to say whatever you want and when of course, but generally folk on the board here try to get along, even if they disagree on points of conversation. But you, with almost guaranteed certainty at any given moment, deliver some kind of sarky comment whenever you hit the 'Submit' button here, and it's getting to be a bit of a drag now.

Put bluntly: you're acting like a jerk, and I'm sure that others here, in addition to myself, would appreciate if you made a bit more effort to engage meaningfully in conversation more often than you attempt to belittle people.

Anyway, that's my first and last on that.

Dinesh was Mr. Get Along first name Story First. He is gone the peace is gone.

He stated it a billion times.


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