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    Deluxe appoints Neil Davidson as CFO

    By SHOOTUpdated:No Comments1163 Views
    NEW YORK (AP) --

    Neil Davidson, a finance executive with extensive planning, analytical and transactional experience in the digital entertainment sector, has joined Deluxe Entertainment Services Group Inc. as chief financial officer.

    Davidson comes over from Bally Technologies, where he served for nearly a decade, most recently as CFO.  He was instrumental in the sale, completed in November 2014, of Bally Technologies to Scientific Games.  Before joining Bally Technologies in 2006 as vice president of corporate accounting, he served as VP of finance for Multimedia Games. A graduate of the University of Houston, he began his career as an audit manager at KPMG.

    David Kassler, who was appointed CEO of Deluxe in November 2014, said of Davidson, “He brings major operational strengths and significant experience in both M&A and balance sheet optimization. These skills will be increasingly important as the entertainment industry evolves and adapts to new forms of content development, delivery, consumption and monetization.”

    “Deluxe is at the nexus of the evolution of film, video and advertising technology,” Davidson said.  “It’s an exciting time to be joining the company.”

    Tags:Deluxe



    DirecTV calls off acquisition of rival Dish, possibly ending a yearslong pursuit

    Friday, November 22, 2024
    Dish Network satellite dishes are shown at an apartment complex in Palo Alto, Calif., Feb. 23, 2011. (AP Photo/Paul Sakuma, File)

    DirecTV is calling off its planned acquisition of rival Dish after the offer was rejected by bond holders at that company.

    The deal was reliant on Dish bond holders agreeing to trade in the debt they held for debt in the new company, a swap that would have cost them about $1.6 billion, collectively.

    The retreat by DirecTV this week may end a years-long effort by the company to acquire both Dish and Sling after it announced the bid in September.

    DirecTV was looking to acquire Dish TV and Sling TV from its owner EchoStar in a debt exchange transaction that included a payment of $1, plus the assumption of approximately $9.8 billion in debt. The deal was contingent on several factors, including regulatory approvals and bondholders writing off debt related to Dish.

    "While we believed a combination of DirecTV and Dish would have benefited all stakeholders, we have terminated the transaction because the proposed exchange terms were necessary to protect DirecTV's balance sheet and our operational flexibility," DirecTV CEO Bill Morrow said in a statement.

    The prospect of a DirecTV-Dish combo has long been rumored, and reported talks resurfaced over the years. And the two almost merged more than two decades ago — but the Federal Communications Commission blocked the deal valued at the time at $18.5 billion deal, citing antitrust concerns.

    The pay-for-TV market has shifted significantly since. As more and more consumers tune into online streaming platforms, demand for more traditional satellite entertainment continues to shrink.

    DirecTV says that it will continue to invest in next-generation streaming platforms and offer new packaging options while integrating content from live TV alongside direct-to-consumer... Read More

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