Archive

Browse Weekly Multiple briefings and Deal Files on what was bought, what changed, and where value was created.

Weekly Multiple

Aug 14, 2026

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8 min read

The Weekly Multiple #003: Who Can Afford the Lakers Now?

The Lakers and Yankees reveal how rising franchise prices change ownership, incentives, and the fan experience.

Nick McClish

Operating Edge

Deal File No. 003: Electronic Arts and the $2.8 Billion Factory

Aug 12, 2026

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6 min read

Deal File No. 003: Electronic Arts and the $2.8 Billion Factory

EA's new owners can lift cash quickly by cutting development. But at nearly 24 times pre-deal free cash flow, the harder job is making $2.8 billion of annual R&D compound.

Nick McClish

Weekly Multiple

Aug 7, 2026

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4 min read

The bottleneck moved

A 606-megawatt clue to where AI gets stuck.

Nick McClish

M&A

Deal File No. 002: Airtable and the Optionality Tax

Aug 5, 2026

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5 min read

Deal File No. 002: Airtable and the Optionality Tax

What happens when software built to preserve choice meets an owner built to impose focus.

Nick McClish

Weekly Multiple

Jul 31, 2026

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5 min read

The Weekly Multiple #001: The money is hiding in the middle

Private equity loves deleting middlemen. This week, it spent billions buying the ones it can't.

Nick McClish

Business Services

Deal File No. 001: BGIS and the consequence premium

Jul 24, 2026

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5 min read

Deal File No. 001: BGIS and the consequence premium

How a facilities company moved closer to the failures its customers cannot afford.

Nick McClish

Archive

Browse Weekly Multiple briefings and Deal Files on what was bought, what changed, and where value was created.

The Weekly Multiple #003: Who Can Afford the Lakers Now?

Deal File No. 003: Electronic Arts and the $2.8 Billion Factory

The bottleneck moved

Deal File No. 002: Airtable and the Optionality Tax

The Weekly Multiple #001: The money is hiding in the middle

Deal File No. 001: BGIS and the consequence premium

the multiple