FreedomAtStake's Blog

Don Best and Jim Feist, up a tree, m-e-r-g-i-n-g!

By FreedomAtStake | View all Posts
Posted Thursday, March 27, 2008 01:49 PM

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This news came across the Yahoo business wire this morning... Big Stick Media Announces Proposed Acquisition of Don Best Sports.

As an employee of SportsDirect Inc. (the mothership that runs Covers.com), it should be noted that we are semi-competitors with both Don Best and Big Stick, so I will leave the commentary to others.

That being said, I'll try to lay down some facts about this deal, because it is a fairly large transaction involving our industry and it might somehow affect our users in the future, although I'm not immediately aware of any possible direct effects.

Anyway, it looks like Big Stick Media, the parent company of Jim Feist, is purchasing Don Best's company, Corcom, from its parent holding company, Skilljam, for an amount of $16.74M - with about half paid in cash immediately, another 25% or so in stock, and the rest paid in installments over the next year. The deal also apparently gives Skilljam the right to purchase stock in BSM up to nearly 20%.

What confuses me is that Skilljam is also somehow controlled by another company, FUN Technologies, that isn't even mentioned in the press release. FUN bought Don Best three years ago and valued the company at the time at around $40M. Let that number give you an idea about how the UIGEA has affected all sides of the gaming industry.

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User:	Freedom@Stake
Joined:	July 1995
Location:	Ireland
Team:	Florida State Seminoles
Occupation:	Media

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Don Best and Jim Feist, up a tree, m-e-r-g-i-n-g!

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