LVS to sell AVID

[audiolex1]

Surprised no one has noticed that the company that owns AVID is looking to sell it.

https://www.insidermonkey.com/blog/h...-avid-1139825/

[BScout]

Avid is publicly traded.
LVS does not "own" it. It had an investment in it. It has already sold its investment portfolio that held Avid stock.

Ergo...they have nothing to do with the current board looking for buyers.

[RobertDorn]

Yeah indeed. Saw some hobby musician YouTuber stating the same, probably not knowing the difference between selling shares and selling a company, because the latter is just untrue.

One definitely could have a connection with the other, because if LVS sold all their AVID shares, assuming they were quite a large investor in the company, it could have pulled the trigger for AVID to explore a potential sale.

[audiolex1]

Originally Posted by BScout

Avid is publicly traded.
LVS does not "own" it. It had an investment in it. It has already sold its investment portfolio that held Avid stock.

Ergo...they have nothing to do with the current board looking for buyers.

Understood. I can't find the amount of stake in the company LVS has, but it must be significant to warrant a press release.

[Rich Breen]

Well, there is this headline:
"Exclusive: Media editing software vendor Avid explores sale"
https://www.reuters.com/technology/s...es-2023-05-24/

[audiolex1]

Maybe that is where the confusion lays.

Between LVS de-investment and AVID board possibly looking for someone to by the company outright?

With the stock jump and the reason LVS got out of their position, I doubt there is going to be a buyer at the current price.

And with the writers strike, the coming SAG strike (which is going to happen) we are looking at a potentially longer strike than the one in 2008.

There are not good times ahead.

[blairl]

Originally Posted by Rich Breen

Well, there is this headline:
"Exclusive: Media editing software vendor Avid explores sale"
https://www.reuters.com/technology/s...es-2023-05-24/

Yes. This appears to be something different from LVS selling shares.

[Justin1524]

The question is, who has the cash/desire to buy AVID?

1.) Adobe
2.) Waves
3.) Universal Audio
4.) Softube
5.) IK Multimedia
6.) Soundwide (owns Native Instruments, Plugin Alliance)
7.) Fender (owns Presonus)
8.) Gibson (owns Mesa Boogie)
9.) InMusic Brands
10.) Elon Musk (owns Tesla, Twitter)

[Tweakhead]

My preferred new owners would be:
1. Solid State Logic
2. Focusrite
3. Universal Audio

[Darryl Ramm]

Preferred maybe, but likely not. Those small companies only have to raise ~$1B cash for the acquisition, more to pay off the ~$100M debt to JP Morgan. And more to fund needed restructuring/product investment, including likely to get out from outsourced engineering agreements and ramp back up in house development staff. All in a down market with down revenue. I can't quite imagine many companies leaping at the opportunity... if anything happens it will need to be much larger acquiring companies.