One of the drivers of the deal was the rise of NXT and blockchain technology, which has become a growing business in the entertainment and storage industry. Former Disney chief Michael Eisner found his next deal. Michael Eisner Special Purpose Acquisition Company (SPAC) will make public the trading card and collectibles company Topps through a deal with Madrick Capital Acquisition Corporation II.
Michael Eisner’s Tornante Company bought Topps in 2007 with Madison Dearborn Partners for $ 385 million. The deal announced Tops at $ 1.3 billion on Tuesday. Isner, who said in a statement that he would not sell any of his shares to Topps after the deal was completed, would remain as chairman of the public company. Michael Brandstader will remain CEO.
While Topps is known for its baseball cards, which it has been producing since the 1940s, it also owns the Bazooka Bubble Gum brand (which owns confectionery like Ring Pop), as well as WWE, UEFA’s There are also trading card rights. Bundesliga, Major League Soccer, and The Walt Disney Company, which includes brands such as Star Wars.
Now, as a public company, it plans to hit the reddish-hot non-fungible token (NXT) market, Mudrick Capital founder Jason Mudrick said it was “one of the fastest-growing markets to capitalize on.” Located with a universally recognized brand. Collectible NFTs. ”
Michael Eisner told CNBC on Tuesday that NFTs and blockchain technology would allow the company to “participate in the secondary market” for its collectibles, which have exploded over the past one or several years. “The company today is in exactly the same financial position that Disney was in 1984 when I went there, in dollars,” Eisner said. “If we do tenths as well as at Disney, I’d be happy.”