Outdoor Channel Holdings Acquires MyOutdoorTV.com

February 17, 2011 — Fusion DigiNet

Outdoor Channel Holdings has acquired MyOutdoorTV.com, an online provider of hunting, fishing and shooting content. The site, which has a dedicated library of more than 300 television shows and 8,400 online videos on the outdoor lifestyle, will join Outdoor Channel’s digital network of web sites, including OutdoorChannel.com, Downrange.tv, Cascity.com, Lake-link.com and OutdoorChannelOutfitters.com, to create one of the top online networks for outdoor enthusiasts. Terms of the transaction were not disclosed.

Launched in 2006, MyOutdoorTV.com offers a variety of long form programming in the hunting, shooting, fishing and conservation categories produced by legendary outdoor personalities, such as Bill Dance. It also features short form content, including more than 400 “how to” and gear reviews along with educational and wildlife refuge videos through its partnership with the U.S. Fish and Wildlife Service and over 35 state agencies. MyOutdoorTV has included Ford, Sprint, Cabela’s, Evinrude, U.S. Army, and Arctic Cat among its advertisers. In 2009, its top performing year, MyOutdoorTV garnered a total of 1.4 million unique visits and 7.7 million page views.

“MyOutdoorTV is a well-recognized player in the digital outdoor space, and as a leading multiplatform provider of content for outdoor enthusiasts, adding MyOutdoorTV to Outdoor Channel’s portfolio aggressively expands our digital footprint while also strengthening our online content library,” said Tom Hornish, Chief Operating Officer, Outdoor Channel. “This acquisition combines two powerful outdoor content sites and continues our strategy of maximizing the ongoing appeal of the Outdoor Channel brand, celebrity power and our high quality cross platform programming for our viewers, producers and advertisers.”

OutdoorChannel.com serves as the anchor property in Outdoor Channel’s digital network – a digital network that, according to comScore, attracted a total of 13 million unique visits, 73 million page views and 21 million visitors in 2010. In December 2010, Outdoor Channel’s digital network ranked among the top 8 percent of all properties and web sites in comScore’s sports category.

Chris Moise, former Founder and CEO and Dave Barton, Director of Programming at MyOutdoorTV have been working with the Outdoor Channel’s digital team to aid with content acquisition and online partnerships.  They will now be heavily focused on continuing the growth of MyOutdoorTV.

USA, Temecula, CA

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EMI Capital Restructuring, and Change of Ownership

February 4, 2011 — Fusion DigiNet

Citigroup has seized control of 100% of the share capital of EMI Group from Guy Hands. In 2007 Hands’ had acquired EMI with a highly leveraged £4 billion buyout through his private equity firm Terra Firma. Immediately following the acquisition, Citi completed a recapitalization of the company. As a result, the company’s debt has been reduced by 65% from £3.4 billion to £1.2 billion, and the company has in excess of £300 million of cash available.

Following the appointment of Peter Spratt and Tony Lomas of PwC as administrators to Maltby Investments Limited (“MIL”), the administrators sold EMI and its immediate holding company Maltby Acquisitions Limited (“MAL”) to Citi. Immediately following the transfer in ownership, Citi effected a debt-for-equity swap to recapitalise EMI. The EMI Group continues under the same management and is now completely separate to MIL, which remains in administration. Neither MAL nor EMI were in administration during the process.

EMI has achieved creative and commercial success over the last twelve months and will continue to pursue an ambitious growth strategy.
Roger Faxon, EMI’s chief executive, said: “The recapitalization of EMI by Citi is an extremely positive step for the company. It has given us one of the most robust balance sheets in the industry with a modest level of debt and substantial liquidity. With that solid footing, we are confident in our ability to drive our business forward. We have already made great progress in meeting the challenges facing our industry. The closer alliance between our two operating divisions is already delivering impressive results on behalf of the creative talent we are privileged to represent. We have a clear vision for the future, a strong and committed management team, and now the right capital and financial structure in place to deliver successful outcomes for artists and songwriters.”

“Citi today took ownership of MAL, the holding company that controls EMI. In the process, the previously unsustainable debt load at EMI was reduced by 65%, leaving the company with a strong balance sheet and the ability to invest in and grow its business. This is a positive development for EMI, its employees, artists, songwriters and suppliers. Our objective is to have EMI perform its absolute best for our shareholders over time. EMI is an iconic business and we are completely supportive of both its management and its strategy. It is business as usual for everyone at EMI,” said Stephen Volk, Vice Chairman of Citi, who will be the new Chairman of Maltby Acquisitions Limited.

UK, London

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Online video distribution network goviral acquired by AOL Europe

February 4, 2011 — Fusion DigiNet

AOL Europe has completed the purchase of goviral for $74.1 million. In addition, $22.6 million of consideration will be deferred and paid over two years following completion. goviral is set to join other strategic acquisitions made by AOL in 2010 including StudioNow, 5min Media, TechCrunch, Thing Labs, Pictela and most recently, about.me.

goviral distribute branded video content across the Internet for some of the world’s largest brands, media agencies, creative agencies, and content producers. The company will retain its offices in the UK, Germany, France, Denmark, Sweden and Spain – and further global expansion is planned.

goviral’s current video content distribution network includes more than 18,000 publishers1 across 24 verticals, allowing its clients to reach well over 350 million2 global Internet users and generate more than 60 million video views monthly.3 Specialising in the distribution of viewer-activated videos it has delivered unique campaigns for some of the world’s most progressive and well known brands including: Nike, LG, Unilever, Paramount, Nokia, Hyundai/Kia, Audi, Nintendo and Gucci.

UK, London

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Sir Run Run Shaw sells control of Hong Kong’s TVB

January 27, 2011 — Fusion DigiNet

Sir Run Run Shaw,  founder of Hong Kong’s television station TVB, has sold control of the business.

Shaw has signed an agreement to sell his 26% stake in Shaw Brothers to an investment group controlled by Hong Kong business man Charles Chan, Taiwanese business women Cher Wang and Providence Equity Partners. The deal is expected to be completed on or before March 31.

Shaw will also sell a portion of the 6.3% he owns of TVB through his charity, The Shaw Foundation Hong KongShaw will remain as chairman, Cher Wang and Thomas Nelson, CEO of Providence Equity Partners, will join the board.

Hong Kong

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Orange enters into exclusive negotiations with Dailymotion with a view to acquiring a 49% stake in its capital

January 25, 2011 — Fusion DigiNet
Orange has entered into exclusive negotiations with Dailymotion with a view to acquiring a 49% stake in the online video site. Beginning in 2013, the project allows Orange a progressive capital increase to 100% and also allows for the integration of new business partners. The signature of the final agreement should be reached in the coming months that will enable both parties to optimize their video services and enrich their respective offers. 

This project is strategic for Orange insofar as the Dailymotion video platform will immediately provide the Group with a solution that can meet the increase in its customers’ video use across all connected screens (via internet, WiFi or 3G). The operation will also enable Orange to accelerate its multi-screen strategy by anticipating the growth in high definition, 3D and continuity across all screens.

For Dailymotion, this project represents an opportunity to enrich its content offer and to benefit from Orange’s innovation and marketing skills in order to extend its services across all digital screens for all users. With an already strong international presence and 80% of its users located outside France, Dailymotion will be able to accelerate its growth internationally using the presence of the Orange group in 32 countries. Orange will also reach a critical size in the field of audience and online services.

The deal is subject to consultation with staff representative organisations, as required by French law.

France, Paris
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Comcast and GE receive regulatory clearance for NBC Universal transaction

January 19, 2011 — Fusion DigiNet

Comcast and General Electric have received regulatory clearance from the Federal Communications Commission (FCC) and the Department of Justice for the joint venture that will consist of the NBC Universal businesses and Comcast’s cable networks, regional sports networks and certain digital properties. The joint venture will be 51 percent owned by Comcast, 49 percent owned by GE and managed by Comcast. The transaction is expected to be completed by the end of January.

“This is a proud and exciting day for Comcast,” said Brian L. Roberts, Chairman and Chief Executive Officer of Comcast. “We are grateful for the leadership of FCC Chairman Julius Genachowski, Assistant Attorney General Christine Varney, the other FCC Commissioners and their staffs for the months of hard work that went into reviewing an unprecedented number of documents and public comments.”

“The NBC Universal joint venture will be well positioned to compete, innovate, and bring new choices to consumers,” Mr. Roberts continued. “Our original vision for the combination remains intact so that consumers will benefit, and our competitors will be treated fairly. We are pleased that many of the voluntary commitments we proposed beginning the day the transaction was announced and continuing throughout the process have been incorporated into the FCC’s Order.”

Under the terms of the transaction, GE will contribute to the joint venture NBC Universal’s businesses, including its cable networks, filmed entertainment, televised entertainment, theme parks and unconsolidated investments. Comcast will contribute its cable networks, including E!, Versus and the Golf Channel, its regional sports networks and certain digital media properties, and make a payment to GE subject to certain adjustments based on various events between signing and closing.

GE Chairman and CEO Jeff Immelt said, “NBCU has been a great business for GE over the past 20 years, generating an average annual return of 11 percent. Reducing our ownership stake from 80 percent to 49 percent allows GE to continue sharing in NBCU’s growth while also providing significant cash to invest in our high-technology infrastructure businesses, growing an attractive dividend, and continuing our buyback program. This transaction will have generated approximately $8 billion of cash at closing with an expected small after-tax gain. We are confident the NBCU team will continue to be in good hands under Brian Roberts, Steve Burke and the Comcast team’s leadership.”

“Bringing the legendary assets of NBC Universal together with the content assets and technology expertise of Comcast will create many new opportunities for consumers. The combination of these assets will allow us to bring the future of anytime, anywhere media faster to consumers in America and around the globe,” said Steve Burke, who will become Chief Executive Officer of NBC Universal at the official close of the transaction.
Additional information regarding the transaction can be found at http://www.comcast.com/nbcutransaction.

USA, Philadelphia, PA & Fairfield, CT

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Cox Digital Solutions acquires Internet Broadcasting’s local network business

January 13, 2011 — Fusion DigiNet

Cox Digital Solutions, a digital media solutions provider for national, regional and local agencies, advertisers and publishers, has acquired the IB Local Network business and advertising sales group of Internet Broadcasting. Earlier this week it was announced that Adify and Cox Cross Media and merged to form Cox Digital Solutions.

With the acquisition, Cox Digital Solutions, a division of New Yorkbased Cox Reps, now has more than 150 employees across 10 markets.

“Today is a significant step forward in securing our position in the market,” said Steve Shaw, President of Cox Digital Solutions. “IB Local Network’s publisher relationships and media sales power are a natural fit with Cox Digital Solutions. This combination will enable us to meet a wider set of customer needs through a richer solution set, increase efficiencies, and significantly expand our opportunities for growth.”

With the sale of its local network business to Cox Digital Solutions, Internet Broadcasting (http://www.ibsys.com) is now able to fully focus on providing publishers with its digital publishing platform and services. “We can now concentrate on what has always been our core business –helping our media publisher clients use their content and consumer relationships to build a powerful digital presence by providing them with the most contemporary publishing platform and services available in North America,” said Roger Keating, Interim CEO of Internet Broadcasting and SVP Digital Media for Hearst Television. “At the same time, by placing the IB Local Network with an outstanding organization like Cox, we’re doing right by our former advertising clients and employees.”  

USA, New York, NY

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Research shows smaller buyouts bounce back in 2010

January 11, 2011 — Fusion DigiNet

Source – Lyceum Capital and Cass Business School

The total value of smaller private equity buyouts completed during 2010 rose to over £2.5billion, a 150 per cent increase on 2009 levels, according to data from The UK Growth Buyout Dashboard.

The quarterly trend analysis of private equity transactions in the £10 million to £100 million segment produced by Lyceum Capital and Cass Business School shows 68 companies raised an estimated £2,504 million of buyout funding in 2010. This compares with 34 transactions and £1,045 million of funding during the previous 12 months.
The figures provide further evidence that increasing numbers of successful SMEs are seeking private equity investors’ capital and expertise to drive their post-recession expansion plans.

Commenting on the report, Andrew Aylwin, Partner at Lyceum Capital, said: “The long-term investment outlook is positive. There is a bed-rock of SMEs requiring capital to consolidate their performance and complete the transformation into more mature, high-growth enterprises. This growth will ensure the lower mid-market continues to be a highly attractive asset class for private equity investment that is capable of creating consistently strong returns for investors.”

To go to The UK Growth Buyout Dashboard click here

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Repucom acquires Image Impact

January 7, 2011 — Fusion DigiNet

Repucom America, the provider of broadcast content measurement in the United States, has acquired Image Impact.

The operational merging of Repucom and Image Impact will be undertaken over the next six months and will bring a consolidated, single voice to the measurement of content in the US and Global sports market.

In announcing the deal, the CEO of Repucom, Paul Smith praised the Founder of Image Impact, Russ Cline, and his team for their efforts in building a very effective business.

“Ten years ago Russ Cline revived the role of broadcast content analytics in sports marketing in the United States by bringing sound methodology and process to the largest sports media market in the world,” said Mr. Smith. “The opportunity to work in partnership with Russ and his entire team at Image Impact was one that made strategic, commercial and financial sense,” he added.

Russ Cline, CEO of Image Impact is delighted with the arrangement.  “In the last two years we have seen the US sports market becoming far more aligned with global research trends and initiatives.  We have sought to be part of a truly global business model and the opportunity with Repucom was ideal,” said Mr. Cline.

Through this transaction Image Impact will become part of RSMG Insights along with Sport+Markt AG and Repucom.  RSMG Insights is the largest specialist sports marketing research agency in the world.

USA, New York, NY & Kansas City, KS

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US information industry M&A report shows deal value and volume Up 36%

January 7, 2011 — Fusion DigiNet

Berkery Noyes has released its 2010 Information Market M&A Trends Report. The report analyses merger and acquisition activity in the US Information Industry in 2010 and compares it with activity in the three previous years.

Highlights

  • Transaction volume in 2010 surpassed 2009 by 36 percent, climbing to 2,046 transactions.
  • Transaction value has increased by 36 percent as well, with $112 billion in aggregate acquisition value.
  • The median revenue and EBITDA multiple both increased over 2009, with the revenue multiple rising to 1.8 and the EBITDA multiple to 11.2, a 29 percent increase over the 8.7 of 2009.

“Multiples have started to make a return to pre-crisis levels,” said James Berkery, CIO of Berkery Noyes. “There are more deals happening and there are higher valuations. While we’re not at the levels we saw in 2007, I think we’re well on the road to recovery.”

Strategic acquirers have been the most common acquirer in the industry, yet financially sponsored transactions rose 39 percent by value over 2009 while losing 2 percent in volume over 2009. This trend of larger financially sponsored transactions is further evidenced by two of the top seven deals by value this year being made by financial acquirers: Interactive data Corporation’s acquisition by Warbug Pincus and Silver Lake Partners for $3.2 billion and Visma ASA’s acquisition by Kohlberg Kravis Roberts & Co. for $1.9 billion.

Google was not only the most active buyer in the information industry in 2010, with 28 acquisitions, but was also the most active buyer from 2007 through 2010, with 48 transactions during that time.

The largest transaction in 2010 was Intel Corporation’s announced acquisition of McAfee, Inc., for $7.55 billion.

To view the full report click here:

USA, New York, NY

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