takes on different angles with each subsequent piece. It started at $500 million, implying a $5 billion valuation and the prospectus talked about a minimum 10 year commitment from any investor. About the three months later the number had increased to $750 million and less discussion of what that implied about the valuation and the underlying financial data and no mention of minimum time frames. The piece you refer to has not changed the number and says they have received multiple bids but, without knowing who the bidders are and the specific terms offered it is hard to evaluate the reality of those bids. We already know that they were approached by some media companies and rejected those offers because they did not generate cash up front to return to the schools and demanded other rights concessions. If a PE firm does get involved there will be a host of stipulations, in my opinion, including equity kickers, reinvestment stipulations, operating targets, etc., etc..
[Post edited by 2hhoop3 at 06/18/2019 11:37AM]