Scripps provides revenue guidance for 2012

January 19, 2012 — Fusion DigiNet

The E. W. Scripps Company has provided a broad outlook for the revenue performance of its television stations and newspapers in 2012.

For the full year 2012, total television revenues should increase by more than 50 percent. That includes more than $100 million of revenue for the stations that were acquired from McGraw-Hill Broadcasting Company on December 30, 2011.

Excluding the newly acquired stations, television revenue should increase more than 15 percent, fueled by low-to-mid-single-digit growth of core revenue, and political revenue that should exceed the $42 million figure reported in the previous presidential election cycle.

Newspaper revenue should be down slightly to approximately $400 million.

The commentary was part of prepared remarks at the Noble Financial Equity Conference. A replay can be heard by visiting the investor relations page at www.scripps.com.

More-detailed guidance for the first quarter of 2012 will be released when the company reports its year-end earnings in February.

USA, Cincinnati, OH

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The E.W. Scripps Company third quarter results Posted on November 9, 2011

 

 

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News Corporation acquires a stake in MOBY Group

January 18, 2012 — Fusion DigiNet

News Corporation is to become a minority investor in MOBY Group, a media company headquartered in Dubai and active in Central Asia, principally Afghanistan, and the Middle East. Under the terms of the agreement, News Corporation will contribute its 50 percent shareholding in Broadcast Middle East, its Farsi-language TV joint venture with MOBY, for a minority shareholding in MOBY and will also provide growth capital to MOBY for its expansion plans. Broadcast Middle East will become a wholly-owned subsidiary of MOBY following the investment.

Through Broadcast Middle East, News Corporation and MOBY have launched two successful Farsi-language channels, FARSI1 and Zemzemeh, reaching millions of Farsi speaking audiences across Central Asia and the Middle East.

The agreement with News Corporation will enable MOBY to strengthen its leadership position across the regions in which it currently operates whilst working to expand its presence in new and emerging markets. MOBY will continue to be chaired by Saad Mohseni while Zaid Mohseni will continue to serve as Chief Executive Officer of BME.

News Corporation will provide strategic guidance and input via representation on the MOBY Board of Directors.

James Murdoch, Deputy Chief Operating Officer and Chairman and CEO, International, News Corporation said, “Merging our Farsi joint venture into MOBY allows us to expand our activities with what is surely one of the most dynamic and exciting media businesses in emerging markets anywhere. The Mohsenis are true pioneers and we are pleased to be able to invest alongside them in these challenging, yet very promising markets.”

Saad Mohseni, Chairman, MOBY Group said, “We are delighted to have in News Corporation both a partner with a long track record of growing entrepreneurial, innovative businesses and an investor that sees value in entering parts of the world which many media organizations have not traditionally looked to. Today’s agreement both recognizes the value we have created together in Broadcast Middle East and enables us to continue to grow MOBY for the future.”

UK, London & UAE, Dubai

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UK private equity investment in the £10M-£10OM market grows by 44%

January 18, 2012 — Fusion DigiNet

Data from the Lyceum Capital and Cass Business School UK Growth Buyout Dashboard shows that the UK has reinforced its position as the preeminent market for private equity investment in Europe, with activity in its lower mid-market having continued its strong recovery in 2011 to pre-recession levels of almost 100 deals.

Highlighting the segment’s robustness despite macro-economic challenges, the UK Growth Buyout Dashboard, revealed 44 per cent growth in the total number of transactions last year to 91, compared to 63 in 2010 and 34 deals in 2009.

The quarterly data, which analyses UK-headquartered private equity control deals in the £10 to £100 million enterprise value space, also shows that total deal value has more than trebled over the past three years, with aggregate values in excess of £3.4 billion last year compared to over £2.2 billion in 2010 and just above £1.0 billion in 2009.

Technology, media and telecommunications (TMT) was the stand-out sector – a trend which is likely to continue, driven by growth in innovative IT solutions such as cloud computing and mobile business applications. 26 TMT deals completed during 2011, contributing to 29 per cent of completed transactions, compared to 11 a year earlier and just four in 2009.

Click here to read the full UK Growth Buyout Dashboard.

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Berkery Noyes releases 2011 Year End Media Trends Report

January 10, 2012 — Fusion DigiNet

2011 Key Highlights

  • The largest announced transaction for 2011 was West Australian Newspapers’ acquisition of Seven Media Group, a portfolio company of Kohlberg Kravis Roberts & Co., for $4.15 billion.
  • The segments with the largest disclosed median enterprise value multiples for 2011 were Broadcasting with 3.8x revenue and Internet Media at 17.5x EBITDA.
  • There were 174 fi nancially sponsored transactions with an aggregate value of $11.05 billion, representing 12 percent of the total volume and 20 percent of the total value, respectively.

2011 Key Trends

  • Total transaction volume in 2011 increased by 15 percent over 2010, from 1225 in 2010 to 1409 this year.
  • Total transaction value in 2011 increased by 41 percent over 2010, from $38.31 billion in 2010 to $54.12 billion this year.
  • The median revenue multiple rose from 1.5x in 2010 to 1.9x in 2011. The median EBITDA multiple moved slightly from 10.4x to 10.6x.
  • The segment with the largest increase in volume in 2011 over 2010 was Marketing with a 29 percent increase from 332 transactions in 2010 to 428 transactions in 2011.

M&A Market Overview

  • Berkery Noyes tracked 3572 transactions between 2009 and 2011, of which 1013 disclosed fi nancial terms, and calculated the aggregate transaction value to be $119.95 billion. Based on known transaction values, we project the value of the 2550 undisclosed transactions to be $25.33 billion, totaling $145.27 billion worth of transactions tracked over the past three years.
  • The largest transaction tracked by Berkery Noyes between 2009 and 2011 was Comcast Corporation’s acquisition of NBC Universal, a subsidiary of General Electric Company for $22.85 billion, which was announced in 2009 and closed in 2011.
  • The most active acquirer by volume in the Media and Marketing industry between 2009 and 2011 was Publicis Groupe SA with 39 transactions, 24 of which were announced or closed in 2011.

Visit the Berkery Noyes website to download the full report

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Hustler Acquires Sapphire Media

January 10, 2012 — Fusion DigiNet

Adult entertainment media business Hustler has acquired Sapphire Media, a European distributor of adult content to television, VOD and wireless devices. The new parent entity for Sapphire Media is LFP Media BV.

Sapphire Media International BV distributes 7 adult channels across Europe, including Blue Hustler, Hustler TV, HustlerHD/3D and Daring!TV to over 900 distribution partners. It is a provider of adult content to IPTV, VOD and mobile operators. The company is headquartered in Amsterdam.

“We started working with Sapphire to bring Hustler TV to Europe back in 2005 and within a month we were the mostly widely distributed adult network there thanks in a large part to their efforts,” said Michael H. Klein, President, Hustler. “Based on our strong relationship with them and the prospects for future growth, we felt bringing the Sapphire team on board full time as part of our Broadcasting Group was the smartest move for us.”

USA, Beverly Hills, CA & The Netherlands, Amsterdam

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BSkyB invests in Zeebox

January 9, 2012 — Fusion DigiNet

British Sky Broadcasting has become an investor in zeebox, a ‘second-screen’ consumer service that brings together broadcast TV and the Internet. Sky has taken a 10% equity stake, providing funding to support the company’s future product roadmap and global rollout plans. As part of the deal Sky Media will become the exclusive advertising sales agent for zeebox’s synchronised advertising inventory. zeebox remains an independent company continuing to operate its own zeebox branded social TV platform in the UK and elsewhere. It will continue to deliver a second-screen platform that broadcasters and programme-makers can use to support and enrich their shows, connect with fans, and obtain new insights into viewer behaviour. Terms of the deal were not disclosed.

The zeebox service – currently available on iPhone, iPad and the Web – serves up social media feeds and conversations via Twitter and Facebook, as well as additional information on the topics, people and products featured within specific programmes. Consumers use these ‘zeetags’ to search the web for more information, read up on characters or actors, purchase music, buy products featured on-screen – whether during programmes or ad breaks, or simply share their views with friends and followers on social media. The service will be offered to Sky customers

From later this year, Sky customers will also be able to use a zeebox powered Sky app to access their Sky+ box on the move, so they can manage their Sky+ recording remotely, as well as using their iPhone or iPad as a remote control for their Sky box.

UK, Isleworth, Middlesex

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Shine Group acquires ChannelFlip

January 9, 2012 — Fusion DigiNet

Elisabeth Murdoch’s Shine Group has acquired ChannelFlip the online broadcaster and original content producer. ChannelFlip’s programming includes Richard Hammond’s Tech Head, David Mitchell’s Soapbox and Dom Joly’s Joystick. ChannelFlip, was founded in 2008 by Justin Gayner and Wil Harris.

Elisabeth Murdoch, the CEO and chairman of Shine Group, said: “Wil and Justin are true like-minded creative entrepreneurs and we welcome them and their team to Shine Group. They have built ChannelFlip into its leadership position through creative and commercial excellence, producing compelling and innovative online productions whilst persuading advertisers of the deeper relationships they can play within these. Following our entry into social gaming with Bossa Studios, this acquisition further underlines Shine Group’s relentless commitment to delivering excellence across all platforms and our determination to develop powerful direct to consumer models and connections to audiences, wherever they may be.”

Shine Group was acquired by News Corporation in April 2010 for a reported £415M.

USA, New York, NY & UK, London

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CBS Television Stations Group to acquire New York Station WLNY-TV

December 15, 2011 — Fusion DigiNet

CBS Television Stations, a division of CBS Corporation, has signed a definitive agreement to purchase independent New York television station WLNY-TV (Channel 55).  Terms of the agreement with the seller, WLNY Holdings, Inc., were not disclosed.  The acquisition of WLNY-TV (whose call letters stand for We Love New York), along with WCBS-TV (CBS 2), will give CBS a duopoly in America’s largest media market.

“Our acquisition of WLNY-TV presents a tremendous opportunity for our TV Stations Division,” said Peter Dunn, President, CBS Television Stations.  “The combined strengths of CBS 2 and WLNY-TV will give us a terrific platform for serving the entire New York area.  Our plans for the station include adding people and resources to fuel a significant expansion of local news programming well beyond the nightly half-hour that currently airs.  And, of course, in doing so we will continue to honor the station’s already deep commitment to serving the people of Long Island and the entire tri-state area.  We also look forward to having a bigger and better news bureau on Long Island that will be a terrific resource for WCBS.”

WLNY-TV is widely distributed by cable, satellite and other subscription television service providers in the New York-New Jersey-Connecticut tri-state area.  The station appears as either Channel 10 or Channel 55 on most channel lineups and Channel 55 as an over-the-air service.

Once the acquisition of WLNY-TV has been finalized, CBS will own duopolies in 10 markets, including New York, Los Angeles,Philadelphia, Dallas, San Francisco, Boston, Detroit, Miami, Sacramento and Pittsburgh.  Currently, the CBS Television Stations group includes 28 stations, including 16 that are part of the CBS Television Network, eight affiliates of The CW Network, two independent stations and two MyNetworkTV affiliates.

USA, New York, NY

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Microsoft acquires video discovery technology company VideoSurf

November 22, 2011 — Fusion DigiNet

Microsoft Corp. has acquired California-based video discovery technology company VideoSurf Inc.

Founded in 2006, VideoSurf offers a back-end computer vision technology that “sees” frames inside videos to make discovering content fast, easy and accurate. Over time, Microsoft will integrate this technology across its entertainment platform to augment the Xbox 360 ecosystem and evolve search and discovery of entertainment content on Xbox LIVE.

“VideoSurf’s content analytics technology will enhance the search and discovery of entertainment content across our platform,” said Alex Garden, director of Xbox LIVE for the Interactive Entertainment Business at Microsoft. “This holiday we will launch voice search across our entertainment partners on Xbox LIVE. Over time, as we integrate VideoSurf’s technology into our system, we are excited about the potential to have content tagged in real time to increase the speed and relevance of the search results.”

“Microsoft’s Interactive Entertainment Division is at the leading edge of connected entertainment,” said Lior Delgo, CEO and co-founder of VideoSurf. “We are incredibly excited to be working together on our mutual passion for creating amazing consumer experiences and reinventing how consumers search, discover and enjoy content on their televisions.”

In the coming months, Microsoft will bring nearly 40 world-leading TV and entertainment providers to Xbox LIVE, includingBravo, Comcast, HBO GO, Verizon FiOS and Syfy in the U.S.; BBC in the U.K.; Telefonica in Spain; Rogers On Demand inCanada; Televisa in Mexico; ZDF in Germany; and Mediaset in Italy. This acquisition will also make it easier for world-class video partners to take full advantage of advanced features such as voice search enabled by Kinect for Xbox 360. With Kinect, users will be able to easily search and discover content across multiple entertainment providers within Xbox LIVE and then interact with and enjoy content in extraordinary ways using voice search powered by Bing on the Xbox 360.

USA, Redmond, WA & San Mateo, CA

 

 

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The world’s richest man buys 3.2 pct stake in Spain’s Prisa

November 19, 2011 — Fusion DigiNet

Carlos Slim, the world’s richest man, has bought a 3.2 percent stake in Promotora de Informaciones SA (Prisa), Spain’s largest media company whose shares have slumped by about 50 percent this year.

The purchase of 14.7 million shares of Prisa was made through Slim’s investment arm Inmobiliaria Carso SA, according to an exchange filing made in Spain on Friday. The statement did not specify how much Slim paid.

Based on the price of Prisa shares at Thursday’s close, the stake would have been worth 11 million euros. The shares jumped 12 percent on Friday to 0.84 euros, helped by the news of Slim’s investment.

Prisa’s business spans radio and TV assets in Spain and Latin America, as well as Spain’s best-selling newspaper El Pais. The company is trying to shed assets and cut its debt after borrowings topped 4 billion euros in 2010.

Slim is the chairman and chief executive of telecommunications companies Telmex and América Móvil and has extensive holdings in other Mexican companies. As of early October, Slim held 8.1 percent of Class A shares of New York Times.

Mexico, Mexico City & Spain, Madrid

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