Media 10 acquires Pro Publishing Media & Events

Media 10Media 10 has acquired Pro Publishing Media & Events Ltd, originally founded by Clara Perry in 2007. The terms of the transaction were not disclosed.

The acquisition will bolsters Media 10’s offering within the kitchen and bathroom sector. Brands include luxury consumer magazine Utopia Kitchen & Bathroom, trade magazine Designer Kitchen & Bathroom, and the Designer Kitchen & Bathroom Awards event. Digital brands kb-eye.com and kb-network.co.uk also form part of the portfolio, as well as The d List, the Designer Guides and the Utopia Supplements.

All brands will continue to be headed up and managed by Perry under a directorship role of the newly formed kitchen and bathroom division at Media 10 Ltd.

Media 10 CEO Lee Newton said, “With over a million people visiting our events each year from both the trade and consumer markets, we are delighted to be able to join forces with Clara and her excellent team; this partnership puts us in a unprecedented position where all products can take advantage of each other’s strengths to continue to build strong brands across all media platforms within the kitchen and bathroom industry.”

UK, Loughton & Colchester

Blackstone reportedly near a deal to buy PennWell for around $300M

According to an article on the Forbes website, Blackstone Group is close to finalising a deal to acquire PennWell Corp for around $300 million. The company has estimated revenue of around $170 million. Forbes sources say the deal is being made specifically through Clarion Events, the London-based trade-show operator that Blackstone acquired last summer.

Read the Forbes article here.

USA, New York. NY & Tulsa, OK

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Future plc acquires Newbay Media

FUTURE-logo-Future plc, a global platform for specialist media, has acquired Newbay Media LLC, a US based information and events business, for an initial net consideration of $12.25 million (£8.62 million) cash and $1.55 million (£1.09 million) shares, with a further potential deferred consideration of up to $5.60 million (£3.94 million) in January 2019, depending on the future performance of the acquired business.

Newbay’s information and events business operates in three verticals: Television & Video, Entertainment & Educational Technology and Music. Newbay’s brands include Music Week, Twice and Broadcasting & Cable. Newbay generated EBITDA of $4.2 million in the year ending 31 December 2017.

The acquisition has been funded in part by an increase in Future’s debt facilities of £5m with the remainder of the cash consideration, as well as the expected cash consideration of the acquisition of the Haymarket titles recently announced, funded out of existing debt facilities

The initial share consideration constitutes 283,692 new ordinary shares of 15p each (the “Consideration Shares”) with a holdback on a potential further 18,303 shares. The Consideration Shares will be subject to lock-up restrictions for a period of three months from the date of issue.

Zillah Byng-Thorne, CEO of Future, commented: “This acquisition strengthens our presence in the US, and together with our recent UK acquisition expands our market leadership in music and consumer electronics. Newbay’s B2B titles, including those in audio visual and television broadcasting, will further diversify our revenue streams whilst bringing additional valuable B2B experience to complement Future’s B2C businesses.

UK, London & USA, New York, NY

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Informa publishes documents relating to recommended offer for UBM

In January Informa and UBM announced the creation of combined B2B Information Services Group through an offer for UBM by Informa.

InformaInforma has now published information on the background and reasons for the Offer, the financial benefits, Informa’s intentions and strategic plans and the actions to be taken by shareholders. They have also published a Prospectus relating to the new shares to be issued to UBM shareholders by Informa in connection with the Offer, and the application for admitting new shares to the premium segment of the Official List and to trading on the London Stock Exchange’s main market for listed securities.

The information is available on Informa’s website HERE.

UBMIn addition, UBM has published its scheme document today, which contains, amongst other things, a letter from the Chairman of UBM, the full terms and conditions of the Scheme and the Offer, notices convening the Court Meeting and the UBM General Meeting, details of the Mix and Match Facility, an expected timetable of principal events and details of the actions to be taken by UBM shareholders. The Court Meting and the UBM General Meeting will take place on the same day as the Informa General Meeting.

The Scheme Document is available on the UBM website HERE.

Completion of the Offer is expected to occur in the second quarter of 2018.

UK, London

Euromoney acquires European investment industry survey Extel

EuromoneyEuromoney Institutional Investor PLC, the international business information and events group, has acquired 100% of the business and assets of Extel from WeConvene. Extel will be integrated into Euromoney’s Institutional Investor Research business which is well known for its sell-side analyst and corporate IR performance research and rankings, and strengthens further Institutional Investor’s asset management offering. The terms of the transaction were not disclosed.

Extel runs the annual independent survey of quality across the European equities investment community. The Extel Survey began in 1974 and in 2017 over 15,500 investment professionals cast 1.1 million votes across the investment industry, providing a huge dataset to help clients analyse and drive their market understanding.

The acquisition of Extel fits within Euromoney’s strategy of investing in its main themes, specifically asset management. Extel is deeply embedded in the equities investment community and its complementary data sets and highly valued analytics and insights will support the transition of Institutional Investor to a next generation 3.0 business model.

Will Rowlands-Rees, MD of Institutional Investor Research, said: “Although a small business, Extel has a strong reputation in the European market, and is highly complementary to our existing Institutional Investor Research offerings. By integrating these businesses, we will create a unique bulge bracket through domestic broker view of research product evaluation in the European market at a time of tremendous market change driven by MiFID II. I look forward to leveraging our shared expertise and knowledge, and partners in the investment community to build a stronger and broader set of capabilities across our portfolio of products to help with these challenges.”

UK, London

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Ascential plans to sell exhibitions arm to focus on digital

AscentialPlans to focus on its festivals and digital businesses could lead to a £300 million sale of Ascential’s exhibitions division.

The specialist information group previously known as Emap announced the launch of a strategic review of its exhibitions business yesterday.

The exhibitions business, which generated £78 million of revenue last year, includes the Spring and Autumn fairs, home and gift shows for the retail trade; Bett, a series of educational technology events; and Pure, a fashion trade show.

Ascential traces its origins back to 1887, when Sir Richard Winfrey bought the Spalding Guardian. In 1947, the Winfrey family’s newspaper interests were consolidated to form the East Midland Allied Press (Emap). In 1996 it sold its 65 newspaper titles to Johnston Press for £111 million and then in 2007 sold its consumer magazines and radio businesses to H Bauer, the German publisher, for £1.1 billion. The following year the company, by now a business-to-business magazine and events group, was acquired by Guardian Media Group and Apax Partners for about £1 billion.

Analysts estimated that a sale , which also include CWIEME, a series of shows for the automotive, consumer electronics and power generation sectors, could generate proceeds of between £250 million and £300 million. Shares in Ascential jumped by almost 6 per cent yesterday, rising 22½p to 400½p.

The review does not include Cannes Lions, the festival and awards event for the creative and marketing communications, entertainment and design industries, or Money 20/20, a financial technology payments event platform about to be launched in China.

If Ascential does sell its exhibitions unit, it is expected to redeploy the proceeds to pursue acquisitions.

Emap rebranded itself as Top Right Group in 2012, then three years later underwent a fresh change of name to Ascential. In 2016 it was floated at 200p a share, equating to a market value of £800 million.

The launch of the strategic review of its exhibitions division came as Ascential reported a strong set of annual results. Revenues from continuing operations rose by 6.4 per cent to £375.8 million on an organic basis at constant currency, with Cannes Lions lifting revenues by 7 per cent to £65.6 million. On the same basis, underlying earnings were up 3.4 per cent to £119.5 million and a final dividend of 3.8p makes a total of 5.6p, up 19 per cent.

UK, London

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ReedPOP acquires Gamer Network

ReedpopReed Exhibitions’ games and pop culture live events division ReedPOP is adding Gamer Network and its portfolio of events, websites, and video channels to its portfolio. The addition of Gamer Network marks ReedPOP’s first expansion beyond the event production business. The terms of the transaction were not disclosed.

Gamer Network is home to editorial and community websites and YouTube channels, including flagship brands Eurogamer, RockPaperShotgun, GamesIndustry.biz, VG247, Outside Xbox, Digital Foundry and USgamer. The company also organises the UK’s biggest games event, EGX and the world class indie games event, EGX Rezzed.

The combination of the two portfolios gives ReedPOP the opportunity to combine its live games events across four continents with a worldwide online community of over 50 million monthly users.

Lance Fensterman, global head of ReedPOP said, “Gamer Network is one of the world’s leading voices for gamers and gaming culture. The opportunity to be in business with Rupert Loman and the brands, events and team he has created is a once in a lifetime opportunity. Bringing ReedPOP and Gamer Network together, PAX and EGX together – these are the kinds of mash ups you dream of. We are beyond excited to dream up new concepts that will blow the minds of fans all over the world.”

USA, Norwalk, CT & UK, Brighton

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