Thomson Reuters to sell peHUB, Buyouts and Venture Capital Journal

Thomson Reuters LogoThomson Reuters is selling several of its trade publications, including peHUB, Buyouts and Venture Capital Journal, according to a report in peHUB.

PeHUB, Buyouts and VCJ are produced by Thomson Reuters’ Deals Group, which employs a dozen journalists.

  • Buyouts is a bi-weekly magazine that covers news and trends in the buyouts market.
  • Venture Capital Journal is a monthly magazine that covers the venture capital business.
  • peHUB is a blog that covers PE and VC news.

The Deals Group also publishes peHUB Wire, a free daily email newsletter . The Wire reportedly has more than 60,000 subscribers. Subscriber numbers were unavailable for Buyouts, which costs $2,695 per year, and VCJ, which costs $2,295 annually. Thomson Reuters also doesn’t disclose the number of monthly unique visitors to peHUB.

USA, New York, NY & UK, London

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Salmon acquires e-commerce digital agency Neoworks in the UK

WPP’s wholly-owned operating company Salmon, an e-commerce agency, has acquired e-commerce specialists, Neoworks Limited in the UK.

Salmon, a WPP Digital company, is known for its design, development, implementation and management of enterprise-scale multichannel systems for retailers, manufacturers and wholesalers with more than US$5 billion of online sales running through platforms which it has built. Neoworks, which specialises in the implementation of e-commerce sites using SAP’s hybris technology, will complement Salmon’s existing technology skills and give clients greater flexibility to work with the most appropriate platform for their needs.

London-based Neoworks employs 35 people and services clients including Ted Baker, ASICS, and T-Mobile. The agency’s consolidated unaudited revenues for the year ended 31 March 2014 were £3.9 million, with gross assets of £2.7 million as at the same date.

UK, London

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MECOM GROUP disposes of LMG

mecomMecom Group plc is selling its operating subsidiary in Limburg, LMG Netherlands II B.V., to Concentra Media Nederland B.V., a subsidiary of Concentra NV.

LMG is the publisher of Dagblad de Limburger and Limburgs Dagblad, regional newspaper titles in the Dutch province of Limburg with a combined daily circulation of approximately 138,000. In the year ended 31st December 2013 LMG generated a profit before tax of €4.5 million and as at 30th June 2014 its gross assets were valued in the Group’s consolidated accounts at approximately €44.4 million (including €15.0 million of cash and cash equivalents). The LMG business is owned by LMG Netherlands I B.V., which is ultimately a wholly owned subsidiary of the Group and the Sale will be effected by means of a transfer of LMG’s shares to Concentra. Loek Radix, the interim Managing Director of LMG’s subsidiary, Media Groep Limburg, will remain with the business following the Sale.

The Sale places a preliminary enterprise valuation of approximately €58 million on LMG. Following adjustments the Group will receive initial net cash proceeds of €40 million, subject to adjustments for LMG’s net cash and working capital at completion.

Completion is expected to take place on 30th September 2014.

In addition to the preliminary enterprise valuation above, the transaction also provides for:

1. an earn-out arrangement under which Mecom would receive up to €4 million in additional consideration, depending on the cumulative financial performance of LMG in the three years following completion; and

2. Mecom receiving 90 per cent of the net sale proceeds (up to a maximum of €3.4 million) of the land and buildings at two print plants which Concentra is acquiring as part of the Sale (one of which is disused and the other of which will be shut within a year of completion of the Sale) and which Concentra has agreed to sell in conjunction with Mecom following completion of the Sale

The total valuation of LMG in the Sale will therefore depend on the final amounts receivable under 1. and 2. above. The enterprise valuation, as a multiple of 2013 EBITDA, will therefore be in a range of approximately 4.0 times (assuming nothing is received in respect of 1. and 2.) to approximately 4.5 times (assuming receipt of the maximum payments envisaged in respect of 1. and 2.).

LMG has also entered into a services agreement with Mecom’s remaining Dutch subsidiary, Koninklijke Wegener NV (“Wegener”), under which Wegener will provide various services to LMG for a period of three years from completion of the Sale, for total consideration of at least €4.5 million. Concentra will make a €1.5 million advance payment on LMG’s behalf in respect of this services agreement at completion.

Norway, Oslo & UK, London & Belgium, Hasselt & The Netherlands, Limburg

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Omnicom Group’s Adelphi Worldwide acquires The Planning Shop International

Adelphi Worldwide, part of The DAS Group of Companies, a division of Omnicom Group, has acquired The Planning Shop international a London-based healthcare brand and research agency.

TPSi will join Adelphi’s portfolio of healthcare evidence and solutions businesses.

Stuart Cooper, Adelphi Worldwide’s CEO, commented, “We are delighted to welcome TPSi to the Adelphi Group. I have admired their creative skills in developing a unique agency and branded solution-based offer in the global space. They complement superbly our research presence across the spectrum, from molecule idea development to tangible brand – delivering the right solution and communication for patients and healthcare professionals. This really strengthens even further our top flight presence as a group in this sector. They will complement also our DAS and Omnicom partners, dedicated to effective creative communication solutions, some of whom they already work with.”

Adelphi provides services in strategic marketing, marketing and business intelligence, real-world observational research and disease specific programmes, health and economic outcomes research, market access, pricing and reimbursement research, health communications, medical education and strategic product development consultancy.

UK, London

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JWT acquires majority stake in search engine marketing specialist Blinks in Brazil

WPP’s wholly-owned operating company JWT, the global marketing communications agency, has acquired a majority stake of Mídia 123 Serviços de Publicidade Via Internet Ltda. (“Blinks”), a leading search engine marketing agency in Brazil.

Blinks’ unaudited revenues for the year ended 31 December 2013 were approximately R$11.2 million with gross assets of approximately R$3.3 million at the same date. Clients include Bom Negócio, CVC, Netfarma, Staples, BB Box, Giuliana, and Sem Parar. Founded in 2009, the company employs 81 people and is based in São Paulo.

UK, London & São Paulo, Brazil

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JWT acquires majority stake in digital agency Try in Brazil

WPP’s wholly-owned operating company JWT, a global marketing communications agency, has acquired a majority stake of Cairos Usabilidade Eireli (“Try”), a user experience agency in Brazil that designs and develops custom web, mobile, desktop and touch-enabled applications.

Try’s unaudited revenues for the year ended 31 December 2013 were approximately R$2.5 million with gross assets of approximately R$0.3 million at the same date. Clients include, Itaú Bank, Porto Seguro, Electrolux, SKY, Serasa-Experian, Havaianas, Prontmed, and Kate Spade. Founded in 2003, the company employs 22 people and is based in São Paulo. Try provides consultancy to their clients in user experience, interaction design and prototyping.

UK, London & São Paulo, Brazil

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New Media completes acquisition of The Providence Journal

new media investmentNew Media Investment Group Inc. has completed the acquisition of  The Providence Journal and related print and digital assets for $46.0 million in cash from A. H. Belo Corporation.

The Providence Journal is one of the oldest print publications in the United States and was first published in 1829. It has a daily circulation of approximately 72,000 and 96,000 on Sunday.

Previous reporting

The purchase price was funded with a combination of cash on the balance sheet and an incremental $25.0 million on the Company’s existing term loan. The Providence Journal is one of the oldest print publications in the United States and has a daily circulation of approximately 72,000 and 96,000 on Sunday.

USA, New York, NY & Providence, RI

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New Media Investment Group acquires The Providence Journal for $46M Posted on July 23, 2014



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