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The Shareholder Forumtm

support for fair value realization

of stock investments in

DBM Global Incorporated

(f/k/a Schuff International Inc.)

 
 

Support of Minority Shareholder Interests

The Shareholder Forum had offered to support Appraised Value Rights ("AVR") of DBM (f/k/a Schuff International) minority shareholders in 2014 following a $31.50 per share tender offer by the company's controlling shareholder, HC2 Holdings, Inc., with the stated intent to proceed with a short-form merger "as soon as practicable.”

HC2 acquired DBM shares in the 2014 tender offer and other purchases bringing its total holdings to 92% of outstanding DBM shares, but has not proceeded with a merger. The Forum has continued to support the minority shareholder interests of its AVR participants in this context.

 
     

Forum distribution:

Publicly reported rumors of DBM's controlling shareholder HC2 needing more cash

 

Source: Radio and Television Business Report, August 1, 2019 article

TV/Cable News

An HC2 Exec Rejoins Sinclair Amid Funding Rumors

By RBR-TVBR - August 1, 2019

 

 

From April 2015 through March 2018, Louis Libin served as a senior director at Sinclair Broadcast Group.

Now, he’s back — after abruptly exiting his role as Managing Director of HC2 Broadcasting and HC2 Holdings.

His departure from HC2 comes amid rumors that the entity led by Philip Falcone is having difficulty completing several of the transactions it has struck of late.

Libin is rejoining Sinclair for the role of VP/Spectrum Engineering and Policy.

In this role, Libin will be responsible for engineering elements to the company’s overall domestic and international strategic vision for spectrum utilization.

In addition, he will be an integral part of Sinclair’s tactical decisions on deployment of current and Next Generation broadcast systems and platforms, including single frequency networks, cellularized broadcast platforms and related business use cases.

“We’re delighted to welcome Louis back as a key contributor to our executive group,” said Mark Aitken, Sinclair’s Vice President for New Technology. “He brings a wealth of critical experience to the cutting edge of broadcasting. He’s part of the elite corps of innovative thinkers and is representative of Sinclair’s forward-thinking and visionary culture.”

Sinclair made no mention of HC2 in its announcement.

Libin since January 2014 has served as Chairman of the Advanced Television Broadcasting Alliance Advisory Board.

The MIT and Pratt grad from 1983-1996 was Director of Engineering for NBCUniversal.

Libin’s exit from HC2 comes as RBR+TVBR has learned the company has reportedly failed to close on five deals involving 12 stations, valued at more than $17 million.

According to a source close to the matter, escrows have been taken by the sellers, and HC2 has paid extension penalties. New debt financing is reportedly in the works. However, the source says, HC2 missed a deadline on June 30 for such a move.

The source adds that Libbin unexpectedly quit on July 1, in frustration over lack of funding at HC2.

 

© Streamline RBR, Inc.

 

 

 

The project supporting investor interests in DBM Global Incorporated (f/k/a Schuff International, Inc.) is being conducted by the Shareholder Forum for the benefit of Participants that have reserved Appraised Value Rights ("AVR") Management, subject to conditions including standard Forum policies that each Participant is expected to make independent use of information obtained through the Forum and that participation is considered private unless the Participant specifically authorizes identification.

Inquiries may be sent to shfk@shareholderforum.com.

The information provided to Forum participants is intended for their private reference, and permission has not been granted for the republishing of any copyrighted material. The material presented on this web site is the responsibility of Gary Lutin, as chairman of the Shareholder Forum.

Shareholder Forum™ is a trademark owned by The Shareholder Forum, Inc., for the programs conducted since 1999 to support investor access to decision-making information. It should be noted that we have no responsibility for the services that Broadridge Financial Solutions, Inc., introduced for review in the Forum's 2010 "E-Meetings" program and has since been offering with the “Shareholder Forum” name, and we have asked Broadridge to use a different name that does not suggest our support or endorsement.