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Dylan Marello

Dylan Marello

Founder and portfolio manager of Marrello Capital; former corporate litigator focused on concentrated, long-only investments in microcap and overlooked sectors.

Jun 22, 2026

DavidHOST
18:40
The ticker is EVC, right?
18:43
Integration Communication, so... um yeah this is it's just really fascinating and you know i kind of so start from the beginning i guess when it was like kind of getting involved at two dollars but there's basically two businesses here there's the kind of core legacy business which is television and radio broadcasting um for hispanic media right so local tv and radio which is long perceived to be a dying business but it is and while it is in some ways it's a cash machine these broadcast companies you know historically if you go back like 20-30 years were sort of like the tech companies of those days extremely high margin advertising businesses and it's been long in decline due to changes in the media landscape.
19:44
But there's a couple of valuable pieces to it, which is one, they still get a lot of money from political ad spend during election cycles.
19:55
And that's been growing because obviously we live in a mega polarized world politically.
20:03
So that's kind of one of the angles, right? There's sort of companies you need to look at by taking a blended average of the two years of earnings because one year's weak one year strong because you have a political cycle every two years right so you know EBC's like broadcast business is like unprofitable every other year but it makes good cash and these assets on a sort of like Some of the parts basis, like if you were to sell them piecemeal tend to fetch a lot of money from private buyers.
20:41
Um, and so you've seen some of that in the space, this isn't a play on that, but there is some like underlying tangible asset value.
20:49
Um, there's also a spectrum attached to these assets, right? So there was like a spectrum auction.

27 MINS LATER

DavidHOST
47:46
But yeah, I'd like you to just give us a quick pitch on MyEx and then I'll ask a couple of follow-ups.

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