Diamond Eagle Acquisition is the fifth public acquisition vehicle since 2011 launched by Sagansky and Sloan. These kind of acquisition companies have gained in popularity in recent years as a means for investors to participate in new players in the media and digital sector — particularly with rivals emerging to Netflix in streaming technology.
Their other companies — Global Eagle Acquisition, Silver Eagle Acquisition, Double Eagle Acquisition and Platinum Eagle — raised a combined $1.6 billion for investment purposes. Diamond Eagle will be looking to invest in media companies as did Global Eagle, which moved into in-flight entertainment holdings, and Silver Eagle, which bought a 38% stake in Indian pay-tv service provider Videocon d2h.
The Ipo included 40 million units at $10 per unit. Each unit issued in the initial public offering consists of one share of