(Thursday, April 2, 2009)Earlier this week Klarman's Baupost Group purchased an additional 437,000 share of RHI at $1.19 a share.
Klarman now has 36.9% of the outstanding shares.
Here is the trading data for this year.
Klarman has been in touch with management as the 13D/A stated:
So, what is RHI Entertainment (RHIE, Financial) and what the hell do they do?
RHI Entertainment, Inc. develops, produces and distributes new made-for-television movies, mini-series and other television programming worldwide. The Company provides long-form television content, including domestic made-for-television (MFT), movies and mini-series. It also selectively produces new episodic series programming for television. In addition to its development, production and distribution of new content, it owns an library of existing long-form television content, which the Company licenses primarily to broadcast and cable networks worldwide. RHI Entertainment, Inc’s business is comprised of the licensing of new film production and the licensing of existing content from its film library in territories worldwide. Licensing rights in its film library generate contractual accounts receivable The contractual accounts receivable reflects license agreements it has entered into with third parties for rights to its film content in future periods.
Now, this is an interesting one because a quick glance at the financials reveals nothing that would make someone jump up and say "I've been buying at almost 5 and now it is under two, let's pick up a whole lot more shares". This is, however just what Klarman did. Klarman is also one of the best investors out there now so paying attention to him makes sense.
It also makes finding out what there is about this he likes worth the time. If you know, please leave it in the comments.
Todd Sullivan
valueplays.blogspot.com
Klarman now has 36.9% of the outstanding shares.
Here is the trading data for this year.
Klarman has been in touch with management as the 13D/A stated:
"The shares were acquired for investment in the ordinary course of business. Although the Reporting Persons intend from time to time to discuss with management issues about the Issuer and its strategic direction..."
So, what is RHI Entertainment (RHIE, Financial) and what the hell do they do?
RHI Entertainment, Inc. develops, produces and distributes new made-for-television movies, mini-series and other television programming worldwide. The Company provides long-form television content, including domestic made-for-television (MFT), movies and mini-series. It also selectively produces new episodic series programming for television. In addition to its development, production and distribution of new content, it owns an library of existing long-form television content, which the Company licenses primarily to broadcast and cable networks worldwide. RHI Entertainment, Inc’s business is comprised of the licensing of new film production and the licensing of existing content from its film library in territories worldwide. Licensing rights in its film library generate contractual accounts receivable The contractual accounts receivable reflects license agreements it has entered into with third parties for rights to its film content in future periods.
Now, this is an interesting one because a quick glance at the financials reveals nothing that would make someone jump up and say "I've been buying at almost 5 and now it is under two, let's pick up a whole lot more shares". This is, however just what Klarman did. Klarman is also one of the best investors out there now so paying attention to him makes sense.
It also makes finding out what there is about this he likes worth the time. If you know, please leave it in the comments.
Todd Sullivan
valueplays.blogspot.com
