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Fly News Breaks for June 13, 2016
JCOM
Jun 13, 2016 | 08:07 EDT
After Ziff Davis, the digital media subsidiary of j2 Global, reportedly bid $90M-$100M for Gawker, Citi analyst Walter Pritchard says j2 has "plenty of available cash to execute on this transaction." The deal, if completed, would likely force management to raise guidance early-to-mid Q3, the analyst adds. Assuming Gawker is still $50M in revenue and $10M in profits, j2 could still "significantly monetize" on just the revenue stream which we expect is likely higher, Pritchard writes. He keeps a Buy rating on the shares with a $73 price target.
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