Future PLC’s CEO & FD resign

October 27, 2011 — Fusion DigiNet

Future plc has announced today that Stevie Spring, CEO, and John Bowman, FD, have resigned with immediate effect.

The Board has appointed Mark Wood, the head of Future UK, and Graham Harding, the UK’s Finance Director, to replace them.

According to The Guardian, “The pair have fallen on their swords in order to help Future cut costs”. Spring, the highest-paid executive at Future, received £652,000 in total remuneration for the year to the end of September 2010. This included a £160,000 bonus. Spring’s pay packet was a 72% increase on 2009’s total remuneration of £378,000 when she did not receive a bonus. Bowman, the second-highest paid executive, received a total remuneration of £325,000 in the year to the end of September 2010. Bowman received a bonus of £39,000. This was a 14% rise over 2009’s pay packet, when Bowman also did not receive a bonus.

Peter Allen, Future’s recently appointed Chairman, said: “The Board would like to thank Stevie and John for their considerable contribution in leading Future through a period of unprecedented change. The recent restructuring which positions the company for its digital future has allowed the Board this opportunity to achieve substantial savings by eliminating an entire tier of corporate overhead.

The Board is confident that the market-leading progress in generating digital revenues will continue under Mark’s stewardship. He and Graham can now manage a more profitable business to the benefit of both shareholders and staff.”

Mark Wood said: “I’m delighted to be taking over from Stevie at such an exciting time in our development. We are making amazing progress on line and on mobile, demonstrated just this month by our success on the Apple newsstand.We have the pieces in place to achieve sustainable growth in all our core verticals.”

Group results for the year to 30 September 2011 will be announced on Thursday 24 November 2011.

Bios

Stevie Spring became CEO of Future in 2006 after six years as Chief Executive of Clear Channel, and 16 years in communications management. She chairs BBC Children in Need.

Mark Wood was appointed Chief Executive of Future’s UK business in September 2010. He was previously Chief Executive of ITN and before that Editor-in-Chief of Reuters and a member of Reuters PLC Board. He was a non-executive director of the Company (from 1 April 2009 until 23 August 2010 when he stepped down to lead the UK business).

John Bowman joined Future in November 2001 as Group Finance Director from Scottish Radio Holdings plc, where he was also Group Finance Director, having commenced his career at KPMG.

Graham Harding has been Finance Director of Future’s UK business for seven years and also Group Financial Controller since 2000. He started out his career at PricewaterhouseCoopers.

UK, London, UK

Future Publishing emerges as a contender for BBC Worldwide’s magazine division Posted on February 24, 2011

Posted in Content Media, Internet Media, News, Publishers, ~Europe. Leave a Comment »

Amazon.com Q3 results – sales up 44% to $10.88 Billion, Net income down 73% to $63 million

October 27, 2011 — Fusion DigiNet

Amazon.com has announced financial results for its third quarter ended September 30, 2011.

Highlights

  • Net sales increased 44% to $10.88 billion in the third quarter, compared with $7.56 billion in third quarter 2010. Excluding the $371 million favourable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales would have grown 39% compared with third quarter 2010.
  • Operating income was $79 million in the third quarter, compared with $268 million in third quarter 2010. The favourable impact from year-over-year changes in foreign exchange rates throughout the quarter on operating income was $14 million.
  • Net income decreased 73% to $63 million in the third quarter, or $0.14 per diluted share, compared with net income of $231 million, or $0.51 per diluted share, in third quarter 2010.
  • Operating cash flow increased 19% to $3.11 billion for the trailing twelve months, compared with $2.62billion for the trailing twelve months ended September 30, 2010. 
  • Free cash flow decreased 17% to $1.53 billion for the trailing twelve months, compared with $1.83 billion for the trailing twelve months ended September 30, 2010.
  • Common shares outstanding plus shares underlying stock-based awards totaled 469 million on September 30, 2011, compared with 465 million a year ago.

“September 28th was the biggest order day ever for Kindle, even bigger than previous holiday peak days – we introduced Kindle Fire for $199, Kindle Touch 3G for $149, Kindle Touch for $99, and our all new Kindle for only $79,” said Jeff Bezos, founder and CEO of Amazon.com. “In the three weeks since launch, orders for electronic ink Kindles are double the previous launch. And based on what we’re seeing with Kindle Fire pre-orders, we’re increasing capacity and building millions more than we’d already planned.”

 

Fourth quarter 2011 guidance from Amazon

The following forward-looking statements reflect Amazon.com’s expectations as of October 25, 2011. Our results are inherently unpredictable and may be materially affected by many factors, such as fluctuations in foreign exchange rates, changes in global economic conditions and consumer spending, world events, the rate of growth of the Internet and online commerce and the various factors detailed below.

  • Net sales are expected to be between $16.45 billion and $18.65 billion, or to grow between 27% and 44% compared with fourth quarter 2010.
  • Operating income (loss) is expected to be between $(200) million and $250 million, or between 142% decline and 47% decline compared with fourth quarter 2010.
  • This guidance includes approximately $200 million for stock-based compensation and amortization of intangible assets, and it assumes, among other things, that no additional business acquisitions or investments are concluded and that there are no further revisions to stock-based compensation estimates.

USA, Seattle, WA

Related articles:

Posted in Company Results, Content Media, e-Commerce, Internet Media, News, ~North America. Leave a Comment »

Evolve Media acquires BabyandBump.com

October 26, 2011 — Fusion DigiNet

Evolve Media has acquired BabyandBump.com, which will become a part of its Momtastic division, an online destination and community for mothers.

BabyandBump.com is an online community dedicated to offering a friendly environment for both current and expecting mothers to engage in discussions about all things family related. Launched in 2007 by a set of expecting parents, BabyandBump has grown to become a leading destination for mothers seeking to read and discuss a variety of topics ranging from conception and pregnancy to parenting and family.

“BabyandBump.com is a perfect example of what Momtastic represents: a rapidly growing community that continuously keeps its female users drawn in through fresh conversations and engaging topics,” says Brian Fitzgerald, President and Co-Founder of Evolve Media Corp. “We are excited to welcome BabyandBump.com into the Momtastic family, and look forward to having its community further enrich our pregnancy and parenting offerings.”

The acquisition of BabyandBump.com follows Evolve’s recent acquisition of PregnancyForum.co.uk, a UK-based pregnancy community website.

USA, Los Angeles, CA

Related articles:

Posted in Content Media, Internet Media, Publishers, ~North America. Leave a Comment »

Reader’s Digest Association plans to sell Allrecipes

October 26, 2011 — Fusion DigiNet
The Board of Directors of The Reader’s Digest Association has initiated a process to explore a possible sale of Allrecipes in order to accelerate its focus on its master brand strategy.

“The exploration of a sale of Allrecipes demonstrates our commitment to enhancing shareholder value and sharpening our strategic and financial focus on our core master brands, such as Reader’s Digest, Taste of Home and The Family Handyman,” said Robert E. Guth, President and Chief Executive Officer. “Allrecipes is a terrific business with an exceptional team, and impressive user growth over the last five years. We believe there will be strong interest in this category-leading asset.”

“Allrecipes has thrived over the last six years under the RDA umbrella,” said Lisa Sharples, President, Allrecipes. “We are excited about building on our significant success in expanding our user community to date and look forward to growing the Allrecipes brand with a new partner.”

Allrecipes is the world’s largest digital food brand, with over 24 million monthly unique users globally, nine million downloads of mobile apps, the number one how-to recipe channel on YouTube, and receives 700 million annual visits from home cooks who discover and share food experiences through recipes, reviews, photos, profiles, and blog posts. For 14 years, the Seattle-based site has served as a dynamic, indispensable resource for cooks of all skill levels seeking everyday and special occasion meal solutions, plus practical cooking information.

Morgan Stanley and Evercore Partners are acting as financial advisors to assist the Company with the strategic review process.

USA, New York, NY & Seattle, WA

Related articles:

Posted in Content Media, Internet Media, Publishers, ~North America. Leave a Comment »

kgbdeals acquires New York City’s TheDealist

October 26, 2011 — Fusion DigiNet

kgbdeals has acquired TheDealist, a New York City based independent daily deal website.  The acquisition further expands kgbdeals’ presence in New York City, which was its first market to launch in 2010.

Patrick Albus, CEO, kgbdeals USA said,  “We welcome TheDealist’s members and merchant partners to the kgbdeals family, and look forward to providing them with an expanded range of products and services.  We are also excited to add innovative co-founders, Eli Brill and Isabella Chung, to our leadership team.”

USA, New York, NY

Related articles:

Posted in Content Media, e-Commerce, Internet Media, ~North America. Leave a Comment »

Silverpop acquires location-based marketing platform PlacePunch

October 26, 2011 — Fusion DigiNet

Silverpop, a provider of a scalable, integrated email marketing and marketing automation platform, today announced its acquisition of Atlanta-based PlacePunch, a location-based marketing platform. Terms of the deal were not disclosed.

PlacePunch makes it easy to engage customers via location check-ins incorporated into multi-channel campaigns. Its suite of marketing programs instantly works across all major location-based social networks such as Facebook, Foursquare and Twitter.

“Today, marketers must listen carefully to their customers and deliver the most relevant content at the moment they want it most,” said Bill Nussey, president and CEO of Silverpop. “Our acquisition of PlacePunch, a true pioneer in the location-based marketing space, provides a remarkably powerful opportunity for our customers to market to people who have clearly indicated an interest in their company and a desire to purchase its products or services.”

Co-founder Adam Steinberg will be joining Silverpop as Segment Marketing Director for Social Media. Co-founder Chris Glace will serve as a Product Innovation Architect after integrating PlacePunch into Silverpop Engage.

USA, Atlanta, GA

Posted in Content Media, Internet Media, Marketing/Advertising, ~North America. Leave a Comment »

Mattel acquires HIT Entertainment

October 26, 2011 — Fusion DigiNet

Mattel has entered into an agreement to acquire HIT Entertainment for $680 million in cash from a consortium led by Apax Partners funds. HIT Entertainment owns a global portfolio of popular preschool brands, including Thomas & Friends®, Barney®, Bob the Builder®, Fireman Sam® and Angelina Ballerina®. With more than $180 million of revenues, HIT Entertainment represents one of the largest independent owners of preschool intellectual property. The purchase price equates to a multiple of about 9 ½ times trailing earnings before interest, tax, depreciation and amortisation.

“Mattel is the right home for Thomas & Friends®. This powerhouse brand is joining the ranks of such iconic brands as Barbie®, Hot Wheels®, Fisher-Price® and American Girl®,” said Robert A. Eckert, chairman and chief executive officer of Mattel. “Thomas & Friends® routinely ranks among the world’s leading preschool toys. Additionally, with more than half of the Thomas & Friends® revenue generated from non-toy products, this transaction will marry Mattel’s global marketing, distribution and brand management capabilities with HIT Entertainment’s global programming and licensing expertise to accelerate growth of the combined portfolio.”

Thomas & Friends® is the premier brand in the HIT Entertainment portfolio. Created more than 65 years ago, the brand has grown into the number 1 licensed preschool property in the world, with television programming, home entertainment products, toys and other consumer products available throughout the globe.

Mattel currently markets many Thomas & Friends® toy products under a license from HIT Entertainment which extends through 2014. Mattel’s global sales of Thomas & Friends® die-cast and plastic toys are more than $150 million, and Mattel believes that this transaction will allow the company to continue to expand and grow these product lines into the foreseeable future. Another key advantage to the acquisition is that Mattel will be able to reunite two key pieces of the Thomas & Friends® toy business: plastic and die-cast toys with the wood-based business. The current wood license expires at the end of 2012, at which time Mattel expects to add that line of business to its portfolio. Historically, the sales of wood-based toys have been around half the size of the plastic and die-cast business.

The HIT Entertainment portfolio also includes a number of other highly popular preschool brands with established television broadcast and licensing relationships around the world. The acquisition does not include HIT Entertainment’s interest in the cable network station, Sprout.

RBC Capital Markets, LLC acted as financial advisor and Latham & Watkins LLP served as legal advisor to Mattel in connection with the transaction. BofA Merrill Lynch acted as financial advisor and Weil, Gotshal & Manges LLP served as legal advisor to HIT Entertainment in connection with the transaction.

USA, El Segundo, CA & UK, London

Related articles:

Posted in Broadcasting, Content Media, Internet Media, Publishers, ~Europe, ~North America. Leave a Comment »

Meredith to Acquire Every Day with Rachael Ray

October 25, 2011 — Fusion DigiNet

Meredith Corporation has reached agreement in principle with author and American television personality Rachael Ray for Meredith to acquire Every Day with Rachael Ray magazine and its related digital media assets from the Reader’s Digest Association. The transaction is expected to close before the end of the year. Terms of the deal were not disclosed.

“The acquisition of Every Day with Rachael Ray will further extend our leadership and deepen our reach in providing women with best-in-class food content, while offer advertisers multiple avenues to reach them,” said Meredith National Media Group President Tom Harty. “We are excited to add this well-recognized franchise to our strong portfolio of national media brands.”

“We are constantly looking for strategic acquisitions and investment opportunities like this to expand our reach and create shareholder value,” said Meredith Chief Development Officer John Zieser.

USA, Des Moines, IA & New York, NY

 

Posted in Content Media, Internet Media, Publishers, ~North America. Leave a Comment »

Google acquires social graph analytics service SocialGrapple

October 25, 2011 — Fusion DigiNet

Google has acquired social graph analytics service SocialGrapple. Terms of the deal were not disclosed.

SocialGrapple was created one year ago by Andrey Petrov, who described the tool as a Twitter analytics tool that tracks changes in a user’s social graph and sends users interactive charts and email reports reflecting the data. Petroc will join Google and SocialGrapple will close. All payment subscriptions have been cancelled and users must download their SocialGrapple data by November 8, 2011, or it will be deleted.

Petrov said, ” Since the first launch, we have explored keyword tracking and branched out to other social networks, but this was only scratching the surface. I’m looking forward to taking these ideas to the next level and revealing metrics on an incredibly larger scale.”

Most commentators say that Google is likely to integrate social grapple into its Google+ social network. Petrov said all payment subscriptions have been canceled and users must download their SocialGrapple data by Nov. 8, 2011, or it will be deleted.

USA, Mountain View, CA

Related articles:

Posted in Content Media, Internet Media, ~North America. Leave a Comment »

Federated Media Publishing has acquired Lijit Networks

October 6, 2011 — Fusion DigiNet

Federated Media Publishing has acquired Lijit Networks, Inc. Lijit is a provider of advertising services, audience analytics and reader engagement tools for online publishers of all sizes. The combined entity will reach nearly 300 million global unique visitors according to Quantcast.

Lijit, headquartered in Boulder, Colorado will continue to operate independently but in conjunction with the rest of Federated Media Publishing. Lijit CEO Todd Vernon and COO Walter Knapp will take on corresponding EVP of Technology and SVP of Platform Revenue responsibilities at Federated Media Publishing and will report directly to Federated Media Publishing’s CEO, Deanna Brown. Additionally, Lijit board member Seth Levine from Foundry Group will join the Federated Media Publishing board of directors, effective immediately.

USA, San Francisco & Boulder, CO

Related article

Posted in Content Media, Internet Media, Marketing/Advertising, ~North America. Leave a Comment »
« Older posts
Newer posts »