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New Service From Corra Group
Corra Group is offering to media and entertainment groups a full suite of due diligence background checks for companies engaging in partnerships, consolidation, or mergers and acquisitions. Due diligence and business research services can be conducted domestically or internationally.
"As the media and entertainment industry enters a major phase of new platforms and delivery, there has been increased consolidation and partnerships," said Corra Group Co-Founder, Gordon Basichis. "The main new platform, of course, are all the streaming services. These serves will be in desperate need of content. New content and older content that is part of the libraries still owned by a variety of smaller concerns, both domestically and globally."
Corra Group offers a full suite of due diligence background checks," said Basichis. "In addition to corporate credit reports, criminal, civil, and assorted data searches, Corra Group conducts reputational searches on a global basis. This is where we ask references who are close to the principals or businesses about the inter-workings of the respective business and if there are any red flags that should be taken into consideration. Quite often, it is what you learn up front that allows a company to reconsider an otherwise appealing co-venture, that prevents any costly miscalculations."
Basichis offered that entertainment and media companies seeking investment should be sure to conduct due diligence searches on those who are offering to finance them. He noted that otherwise a company may be saddled with a partner that cannot make good on its offer or create liability issues that can damage branding and the business itself.
"This is a global economy," said Basichis. "The entertainment and media industry is certainly not the exception. Not only are companies reliant on domestic investors, but they often draw their money from foreign investors about whom, in all reality, they know very little.
"The less scrupulous investors can be reputed to work through nefarious sources," said Basichis. "Or they could be funneling through assorted shell companies and laundering money from illegal sources. They could have a history of not keeping their investment promises or cutting funds abruptly when most desperately needed. In short, they can cause untold grief and liability issues. It is prudent to check them out thoroughly, before getting involved with them. Especially, when you are not familiar with the money puzzle that accompanies questionable global landscapes."
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