DigitalBridge Group, Inc. - DBRG STOCK NEWS

DigitalBridge Group (NYSE: DBRG) has successfully completed a 1-for-4 reverse stock split aimed at aligning its share count with industry peers and generating cost savings. Following the split, approximately 163.9 million shares of Class A common stock and 0.2 million shares of Class B common stock remain outstanding. Stockholders retain their proportional ownership and voting power, with trades on a split-adjusted basis commencing on August 23, 2022. This strategic move is part of the company’s broader efforts to streamline operations.

DigitalBridge Group (DBRG) announced its strategic roadmap aiming to double assets under management over the next three years. For Q2 2022, the company reported revenues of $289 million, a net loss of $37 million (or $0.06 per share), and distributable earnings of $7.6 million. The Board approved a 1-for-4 reverse share split, effective August 22, 2022, reducing outstanding common shares from 656 million to 164 million. Shareholders will receive information regarding their holdings and related cash payments. Preferred dividends were declared and will be paid on October 17, 2022.

DigitalBridge and Columbia Capital have launched Xenith Infrastructure Group (Xenith IG), a new fiber platform targeting the Asia-Pacific market. The platform will focus on providing fiber connectivity to hyperscalers and data center operators, starting with assets in Singapore and Hong Kong acquired from Superloop. Clement Goh has been appointed as CEO, bringing over 20 years of experience in the digital infrastructure sector. DigitalBridge, which manages a $47 billion portfolio, aims to leverage the growing demand for reliable fiber infrastructure in the region.

DigitalBridge Group (NYSE: DBRG) has announced its participation in two investor conferences. The first is the Cowen 8th Annual Communications Infrastructure Summit on August 8-9, 2022, where CEO Marc Ganzi will host a keynote and participate in a fireside chat with Zayo CEO Steve Smith. The second is the Deutsche Bank Technology Conference on August 31-September 1, 2022, featuring 1x1 meetings conducted by Severin White, Head of Public Investor Relations. Presentations will be available via webcast on the company's website.

DigitalBridge Group (NYSE: DBRG) announced an agreement to sell Wildstone, a leading independent outdoor media infrastructure owner in the UK, to Antin Infrastructure Partners. DigitalBridge acquired Wildstone in January 2020 and focused on enhancing its billboard digitization strategy. Steven Sonnenstein, a senior managing director at DigitalBridge, highlighted the substantial growth achieved during this period. The transaction is expected to finalize in Q3 2022, with Greenhill acting as financial advisor to DigitalBridge.

Antin Infrastructure Partners has announced the acquisition of Wildstone from DigitalBridge Group. This acquisition marks the final investment from Antin's Flagship Fund IV. Wildstone operates over 3,000 billboards primarily in the UK, driving a shift from traditional paper to digital advertising. The outdoor media market is experiencing significant growth, with a projected 70% digitization rate in the UK within 10 years. Antin aims to extend Wildstone's successful model across Europe, leveraging its premium assets to meet growing demand from global media companies.

DigitalBridge Group (NYSE: DBRG) has appointed Tae E. Ahn as Managing Director and Head of Asia Capital Formation, effective immediately. Based in Singapore, Ahn brings over 15 years of experience in capital formation and business development within the financial sector, notably from his previous role at Partners Group. This strategic appointment aims to enhance DigitalBridge's fundraising capabilities and strengthen client relationships across the Asia-Pacific region, aligning with the firm's growth in digital infrastructure investments.

DigitalBridge and Brookfield Infrastructure have agreed to acquire a 51% stake in GD Towers, valuing the mobile telecom tower business at €17.5 billion ($17.5 billion), including net debt. With over 40,000 sites in Germany and Austria, GD Towers stands as Germany's largest tower company, backed by stable cash flows and extensive market coverage. This partnership aims to enhance digital infrastructure amidst growing network demands across Europe, expected to close in late 2022, pending regulatory approvals.