UBM plc sells Property Week to Metropolis and UBM Channel to The Channel Company

September 27, 2013 — Fusion DigiNet

UBM

UBM has agreed to sell its Property Week print magazine and related products to Metropolis International. Property Week’s 35 staff will transfer to Metropolis International following completion. The terms of the deal were not disclosed.

metropolisUBM has also sold its North American IT channel business to a management-led investment group. The new company, called The Channel Company, will own and operate all of the businesses and products formerly owned by UBM Tech (Channel) in North America. The Comdex brand and UBM India’s CRN business are excluded from this transaction. UBM has retained a 30% minority equity interest in the business.

These disposals constitute the bulk of the operations treated as discontinued in UBM’s H1 2013 results and classified as held for sale at 30 June 2013. The combined cash proceeds from these disposals are approximately £8.5m, subject to working capital adjustments on completion.

UK, London & USA, San Francisco, CA

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Former Centaur Media chief executive Geoff Wilmot to make a bid for the company

September 25, 2013 — Fusion DigiNet

centaurGeoff Wilmot, the former chief executive of Centaur Media plc has said that he is in talks with financial backers about making a bid for the business. Geoff Wilmot left Centaur in May this year. Tim Potter, MD of the Business Publishing division left at the same time.

A stock market announcement released yesterday said:

“Mr Wilmot notes the recent movement in the share price of Centaur.

Mr Wilmot, the former CEO of Centaur, confirms that he is considering an offer for Centaur and to that end has had preliminary discussions with certain prospective finance providers.

Mr Wilmot must, in accordance with Rule 2.6(a) of the Code, clarify his intentions by no later than 5.00pm on Tuesday 22nd October, by either announcing a firm intention to make an offer or that he does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code.

This announcement does not constitute an announcement of a firm intention to make an offer under Rule 2.7 of the Code and there can be no certainty that an offer will be made, nor as to the terms on which any offer will be made.

Further announcements will be made in due course.”

Centaur Media issued a statement today:

“Centaur Media plc (LSE: CAU, “Centaur”) notes the announcement yesterday by Geoffrey Wilmot that he has had preliminary discussions with prospective financial providers in relation to a potential offer for Centaur.

The Board of Centaur (the “Board”) confirms that to date no discussions have taken place between the Company and Geoffrey Wilmot concerning a potential offer.”

UK, London

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DMGT pre-close trading update

September 25, 2013 — Fusion DigiNet

DMGTDaily Mail and General Trust plc has issued a pre-close trading update.

Ahead of the year end on 30 September 2013, the statement provides an update on the Group’s progress in the current year.

It covers the eleven month period to the end of August 2013 and includes comments on September.

Summary

  • Solid Group revenue performance, up 2% underlying#
  • Good revenue growth from B2B operations, up 6% underlying#
  • Resilient revenue performance at dmg media, down 2% underlying#
  • Active portfolio management; targeted acquisitions and non-core asset disposals
  • Share buy back programme of £69 million to date
  • Net debt/EBITDA ratio expected to be less than 2.0 at year end
  • Full Year guidance unchanged and in line with market expectations

DMGT results1 2013

Click on the table for an enlarged view

The full statement can be read here.

UK, London

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Euromoney revenues for the fourth quarter increase by 9%

September 24, 2013 — Fusion DigiNet

Euromoney logoEuromoney Institutional Investor PLC, the international online information and events group, has issued a pre-close trading update ahead of the announcement of its results for the year to September 30, 2013.

Since issuing its Interim Management Statement on July 25, 2013, trading has continued in line with the board’s expectations.  The recovery in US markets, and in particular in the profitability of US financial institutions, has continued, while European markets have remained weak and emerging markets have settled down after the uncertainty earlier in the summer.

Revenues for the fourth quarter are expected to show a headline increase of 9% on the same period last year, and an underlying increase, excluding acquisitions, of 5%.  The improvement in advertising highlighted in the July IMS has continued, with advertising revenues returning to growth for the first time in two years.  Underlying subscription revenues, excluding acquisitions, increased by 4%, helped by the reversal of timing differences from the third quarter.

Total revenues for the year to September 30, 2013 are expected to show a headline increase of approximately 2% on 2012, of which half has come from acquisitions.

Exchange rate movements have not had a significant impact on headline or underlying revenues.

The group expects to announce an adjusted profit before tax* of not less than £114 million for the year to September 30, 2013 (2012: £106.8 million) including a contribution from acquisitions, after financing costs, of nearly £2 million.

At current exchange rates, group net debt at September 30, 2013 is expected to be no more than £10 million, against £38 million at March 31.  This reflects the group’s traditionally strong second half operating cash flows as well as acquisition payments of £13m in the period.

The year end results will be announced on November 14, 2013.

UK, London

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Mash Media acquires International Confex from UBM Live

September 21, 2013 — Fusion DigiNet

mashmedia-logoPublisher and event organiser Mash Media has acquired International Confex, the exhibition for the meetings and events industry, from UBM Live. The terms of the deal were not disclosed.
 
“

I am delighted to officially welcome such a well-loved event as International Confex into the Mash stable,” said Mash Media MD Julian Agostini. “I have been an admirer of the show for many years and this is an exciting and significant acquisition for the company. We are relishing the challenge of continuing UBM’s good work by making International Confex the essential exhibition for the meetings and events industry.”

confexIn June 2012 Mash Media acquired The Event Production Show from Ocean Media Group, alongside the Event Production Awards, Access All Areas magazine, and directory The White Book.

International Confex runs from 11-13 March at ExCeL London.

UK, Wimbledon, Surrey

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Groupon acquires SideTour

September 18, 2013 — Fusion DigiNet

grouponGroupon has acquired SideTour, a marketplace that helps people discover, book and host  local activities. The terms of the deal were not disclosed.

SideTour events are intimate gatherings, averaging 12 attendees, and span food, drink, architecture, history, art and much more. SideTour currently offers more than 500 public and private events with more than 400 hosts using the platform. Hosts include chefs, artists, Olympic medalists, casting directors and sommeliers.

“The addition of SideTour’s curated local experiences furthers our vision of Groupon as the go-to place for consumers to find just about anything, anywhere, anytime,” said GrouponLive General Manager Greg Rudin. “By offering these highly personalized activities, tours and memorable things to do through Groupon, we can deliver even more fun ways for our customers to explore and discover the best local experiences.”

Founded in 2011, SideTour will continue to operate as a separate entity for some time, and Groupon will distribute their events to its  active customers through its email, web and mobile channels.

USA, Chicago, IL

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David Levin to step down as CEO of UBM

September 16, 2013 — Fusion DigiNet

David LevinDavid Levin is to step down as Chief Executive Officer of UBM plc by 31 July 2014.

UBM’s Chairman, Dame Helen Alexander is to lead a search for Levin’s successor. Levin will remain in his current role until a successor is found.

Levin joined UBM as CEO in 2005 and has led the transformation of UBM from a broad media conglomerate focused primarily on the UK and the US into an events and communications business with a significant proportion of its business in emerging markets.

David Levin, said, “I have really enjoyed leading the transformation of UBM’s business over the past eight years, together with a great group of colleagues. During this time UBM has completed more than 100 acquisitions and more than a dozen disposals, and we have returned more than £900m of cash to shareholders. UBM’s two main businesses, Events and PR Newswire, offer significant opportunities for growth, both organic and by acquisition. UBM has built its businesses in the emerging markets of China, India, Brazil, Turkey and the ASEAN region while strengthening its largest position in the USA. This has been underpinned by a profound shift in UBM’s culture. I feel that it is the right time to look for my next challenge. I look forward to the future and, in the meantime, it is business as usual.”

UK, London

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Centaur Media plc – full year results

September 12, 2013 — Fusion DigiNet

centaurCentaur Media plc, the business information, events and marketing services group, has published its full year results for the year to 30 June 2013.

Financial highlights

  • Adjusted EBITDA up 10% to £12.9m (2012: £11.7m)
  • Adjusted profit before tax up 8% to £8.6m (2012: £8.0m)
  • Reported loss before tax of £37.4m (2012: profit £2.7m) includes a non-cash impairment charge of £39.2m (2012: £nil)
  • Adjusted basic EPS up 7% to 4.5p (2012: 4.2p) with a proposed full year dividend of 2.4p (up 7%)
  • Cash conversion remains strong at 112% (2012: 120%)

Operational highlights

  • Revenue mix continues to improve
    • Digital contribution increased to 35%, paid-for content 28% and events 36%
    • Advertising revenues reduced as planned to 35% of total revenues
  • Refocus around market segments driving greater focus on delivery of revenue and cost synergies

The acquisition of Econsultancy.com Limited was completed in July 2012, Centaur reported that the integration is accelerating.

Note: The Econsultancy sale was a Fusion Corporate Partners deal. Fusion represented the shareholders of Econsultancy.

centaur results 13

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Mark Kerswell, Interim Chief Executive, commented, “We have continued to improve our revenue and earnings profile as well as accelerate the delivery of our strategic objectives. We now have a sharper focus on markets and customers and a strong pipeline of new digital platforms and event launches. We are better placed to exploit fully the numerous opportunities across the Group. “Our digital, subscription and events businesses are growing well, whilst our print, advertising funded businesses are stable. With deferred revenues up 27%, the outlook for 2014 is positive.”

UK, London

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WGSN acquires Mindset Communicaco e Marketing Ltda in Brasil

September 4, 2013 — Fusion DigiNet

wgsnWGSN, the global trend forecasting service, has acquired Mindset Communicaco e Marketing Ltda, its marketing partner in the Latin American market.

Mindset is an advisory agency dedicated to research and analysis of future and current consumer behavior. It works with many leading companies in Brazil and brings a loyal subscriber base and great relationships with major retailers, merchandisers and designers across the region. Mindset has been a reseller of WGSN’s trend service subscription for nine years.

This agreement will provide Mindset access to WGSN’s infrastructure, wider global markets and their expertise in technology, content, operations and customer excellence. It will enable WGSN to be even closer to its customers in Latin America and create local content direct for that market. It will also enable other Top Right Group businesses to benefit from Mindset’s expertise in Brazil and across the LATAM region.

Julie Harris, CEO of WGSN and Planet Retail commented: “We are delighted to announce this acquisition, which not only further strengthens WGSNs position in the Latin American market, but is also part of a wider strategic objective to expand our trend, retail and intelligence services in new and developing markets.”

This is the group’s second acquisition this year following the purchase of certain online assets of Mudpie, a provider of fashion trend forecasting with more than 200 customers worldwide.

Top Right Group Latin America is headquartered in Sao Paulo and will shortly move to a new office near Faria Lima.

UK, London & Sao Paulo

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Eventbrite acquires London-based Lanyrd and Latin American events company Eventioz

September 3, 2013 — Fusion DigiNet

eventbriteEventbrite, the global self-service ticketing platform, has acquired London-based event data company Lanyrd, and Argentinean-based ticketing company Eventioz. The terms of the deal were not disclosed. These acquisitions are the first for the Eventbrite which in April raised $60 million in funding. T

“For seven years, Eventbrite has focused on creating, scaling and promoting the best ticketing platform on the market. Now it’s time for us to open our pocketbooks a bit to accelerate our growth around the world,” said Kevin Hartz, Eventbrite Co-Founder and CEO. “These two acquisitions perfectly align with the strategic focus for the company, while adding significant assets and technical power to our platform.”

lanyrd Lanyrd, a social conference directory based in London, allows users to add and discover events as well as track friends’ professional event activity. The company was founded in 2010, and has worked with nearly 40,000 events in 148 countries.  The Lanyrd team will relocate to Eventbrite’s headquarters in San Francisco to be part of the 100+-strong engineering effort. Eventbrite will continue to support Lanyrd.com and its community after the acquisition.

eventioz Eventioz is a Latin American ticketing platform with operations in Argentina, Brazil, Chile, Colombia, Mexico and Peru. Since the business started in 2008, it has helped  more than 15,000 organisers create, promote and sell tickets to nearly 20,000 events.

USA, San Francisco, CA & UK, London & Argentina

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