CNNE News & Events

Cannae Holdings announced that its board of directors has authorized a new stock repurchase program, effective March 6, under which the company may repurchase up to 10M shares of its common stock, in addition to the 4.9M shares remaining under Cannae's prior authorizations, for an aggregate share buyback authorization of 14.9M shares. The company has 46.4M shares outstanding. The company said, "The Board continues to be unsatisfied with Cannae's current share price and believes that it does not reflect the intrinsic value of the Company's assets or the long-term potential of the platform. Based on feedback from shareholders, the Board is expanding its commitment to capital returns and increasing its share repurchase authorization to provide management with more flexibility to buy back shares in the short term and as the Company generates liquidity through the sale of non-core assets. The increased authorization demonstrates Cannae's focus on maximizing shareholder value and taking action to increase Cannae's share price."

Reports FY25 revenue $423.6M vs. $452.5M last year.

Cannae Holdings announced that Black Knight Football Club has acquired the remaining equity interests in FC Lorient, and is now the sole shareholder of FCL, a French Ligue 1 football club founded in 1926 and based in Lorient, Brittany, France. Loic Fery, the previous majority owner, is taking a portion of his consideration in BKFC shares, and will retain his position as president of FC Lorient, a role he has held since 2009. This transaction allows deeper integration of FC Lorient into BFKC's multi-club model. BKFC's ownership provides FC Lorient with financial strength and strategic resources on a global scale. By fostering collaboration between executives and sporting management, BKFC optimizes each club's strengths and performance in training, recruitment, and player development to enhance the multi-club model. Within BKFC, FC Lorient joins an international group of clubs with strong identities, including AFC Bournemouth and Moreirense FC. FCL will benefit from a wide range of resources, expertise and links with partner clubs, in particular AFC Bournemouth, where there have already been multiple player transactions.