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  "documentTitle": "Stroer SE & Co. KGaA (SAX)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2016-04-21 00:00:00",
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  "notes": "The text highlights potential circular revenue streams and lack of transparency in insider transactions.",
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      "text": "Insider-affiliated businesses seem to be consumers and providers of Ströer advertising space.",
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      "text": "Media Ventures, which invests in companies that seem to frequently advertise through Ströer; Media Ventures, which as of 2014, had access to free advertising on Ströer's network; SAW, which sells billboard advertising through Ströer.",
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      "text": "Media Ventures is a venture capital / private equity investment vehicle. We found evidence indicating that at least nine Media Ventures investees have run advertising campaigns on Ströer's network.",
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      "kind": "paragraph",
      "text": "least approximately €400 million of Ströer shares since 2012. A Lichtenstein stiftung (foundation) that could be connected to Dirk Ströer appears in November 2015 to have sold shares approximately worth €127 million.",
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      "text": "Media Ventures Portfolio Companies are Prolific Users of Ströer Advertising",
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