Cannae Holdings, Inc. (NYSE:CNNE) Q1 2024 Earnings Call Transcript

So it’s all the idea of trying to make things come together and work together. And we don’t have anything pending right now, but we’re looking. We’re constantly looking, but we’re being very judicious with our cash spend. We’re being very careful. And we’re also talking to outside investors that may want to invest with Black Knight Football Club and take an ownership position. And again, as we take in new investors, that will result in a mark to our valuation, which will be a positive. So that’s kind of the football story. And Ryan and I really spend quite a bit of time on the football side, just looking at different situations.

Ian Zaffino: Okay, good. And then just one more question, if I could. If we look at kind of like Alight and post an asset sale or that, I mean, should that be a standalone company, do you think, or an attractive strategic partner to another company? How do you kind of think about that in general? And I don’t know if you can answer that, but if you can, I’d love to hear the answer.

Bill Foley : Well, what I can tell you is that by disposing of the payroll business and the professional services business, it has greatly simplified Alight. Alight is now a very significant benefits company, one of the largest in the country. just as we responded to companies that were interested in our payroll business and our professional services business, if someone develops or a company develops that’s interested in talking about the balance of a light, then that’s obviously something we’d discuss and we’d consider.

Ian Zaffino: Okay. Thank you very much.

Operator: This concludes our question and answer session. I would like to turn the conference back over to Bill Foley for any closing remarks.

Bill Foley : Thank you, Operator. I appreciate everyone’s attention. I appreciate the questions. And we look forward to speaking to you next quarter. Thank you.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.