Vivendi and Universal Music Group to acquire EMI Music

November 19, 2011 — Fusion DigiNet

Vivendi and its subsidiary, Universal Music Group have agreed to purchase EMI’s recorded music division from Citigroup for a total consideration of £1.2 billion representing 7 x EBITDA prior to synergies.

EMI Group is one of the world’s most prominent music companies. Its recorded music division, EMI Music, operates around the world and represents artists spanning all musical tastes and genres through record labels including Angel, Astralwerks, Blue Note, Capitol, Capitol Latin, Capitol Records Nashville, EMI Classics, EMI CMG, EMI Records, EMI Records Nashville, Manhattan, Parlophone, Virgin Classics and Virgin Records.

Jean-Bernard Lévy, CEO of Vivendi, stated: “We are very proud to welcome EMI into the Vivendi family. We all respect the labels within EMI as well as the artists and employees who contribute to its success. They will find within our Group a safe, long-term home, headquartered in Europe.” He then added: “We plan to acquire EMI’s recorded music division on attractive terms, adhering to our principle of total financial discipline. We are confident that we will be able to create additional value for our shareholders thanks to our knowledge of the industry and our proven track record of successful integration. Lucian Grainge’s personal experience and heritage will be a major asset in making the combined entity a great success.”

Lucian Grainge, Chairman & CEO of Universal Music Group, added: “This is a historic acquisition for UMG and an important step in preserving the legacy of EMI Music. For me, as an Englishman, EMI was the preeminent music company that I grew up with. Its artists and their music provided the soundtrack to my teenage years. Therefore, UMG is committed to both preserving EMI’s cultural heritage and artistic diversity and also investing in its artists and people to grow the company’s assets for the future. As a result, we will be better positioned to fully capitalise on the many new and exciting opportunities in the current marketplace, and also able to better serve our artists, songwriters and business partners, while offering fans even more choice.”

Vivendi will finance the transaction from its existing credit lines. Concurrently, Vivendi and UMG will also sell 500 million euros worth of non-core UMG assets.

Vivendi and UMG have been advised by Allen & Co. and SJ Berwin on this transaction. Citi Global Banking acted as financial advisor to Citi and EMI. Clifford Chance LLP, Shearman & Sterling LLP and Freshfields Bruckhaus Deringer LLP acted as legal advisors to Citi and EMI.

UK, London & France, Paris & USA, New York, NY

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UBM TechWeb acquires Online Marketing Summit

November 19, 2011 — Fusion DigiNet

UBM TechWeb has acquired digital marketing event Online Marketing Summit.

“We are delighted to add Online Marketing Summit to UBM’s portfolio of global digital marketing brands and services, which include Technology for Marketing and Advertising in India, China and the UK, Internet World in the UK, and E-Commerce Expo in the UK,” said Kathy Astromoff, UBM TechWeb Executive Vice President and Group General Manager. “This acquisition also accelerates our mission of delivering high quality content and Marketing-as-a-Service for digital marketers and marketing tools, applications and service providers worldwide.”

Online Marketing Summit is taking place February 6-10, 2012 at the Hilton San Diego Bayfront. Online Marketing Summit focuses on empowering a global community to learn and share best practices in digital marketing. The event features over 100 sessions and case studies, an Expo show floor, a full day Online Marketing Boot Camp, rich networking opportunities and influential speakers including executives, authors, marketers and social media experts at Adobe, Best Buy, Bing, Cisco, Dell, DuPont, Eloqua, GM, Google, HP,IBM,  Intel, SAP, Salesforce, SEOmoz and more. Topics to be covered include: social media, mobile marketing, search, email, marketing automation and more.

Online Marketing Summit was acquired by UBM TechWeb, while the Online Marketing Institute will continue to run independently. Aaron Kahlow will continue to serve as the Conference Director for Online Marketing Summit focusing on content programming and sales and marketing partnerships.

USA, San Francisco, CA

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PA Acquires Globelynx “TVready” Network

November 19, 2011 — Fusion DigiNet

The Press Association has acquired Globelynx, the fixed-camera network which enables corporate executives, financial analysts and commentators to be interviewed on TV news programmes from their offices.

The acquisition of Globelynx, whose network is widely used by the BBC, Sky News, ITN, Bloomberg, CNBC, Reuters and many of the world’s major broadcasters, marks the latest move in PA’s strategy of diversifying its core news and information business into corporate markets, and adding value to its existing services for media customers.  Under the terms of the deal announced today, PA is immediately acquiring 50% of Globelynx and will acquire the remaining 50% over the next four years.

Globelynx, which was founded in 2001, has a growing number of blue-chip corporate customers across financial services, media, and industrial companies. The network carries over 6,000 live interviews a year and has grown rapidly in recent years as a result of increased interest in financial and business TV coverage.

Interviews are conducted via self-operated fixed cameras, located in offices and dealing rooms, which are connected to TV networks via Globelynx’ master control room and fibre network. Broadcasters can book interviews up to a few minutes before going on air – without the inconvenience or cost of using outside broadcast facilities, or transporting interviewees to a TV studio. Globelynx also enables corporate executives and spokespeople to be interviewed on live TV without leaving their offices.

Clive Marshall, Chief Executive of PA Group, commented: “Globelynx is a fantastic business which provides an invaluable service connecting spokespeople with news broadcasters. The explosion in 24 hour news channels has created a huge demand for live comment, a demand which Globelynx, with PA’s support, is ideally placed to capitalise on.”

UK, London

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RapidBuyr acquires BizDeals.com

November 19, 2011 — Fusion DigiNet

RapidBuyr, the daily deal site catering exclusively to small and mid-sized businesses with discounts on B2B products and services, has acquired Los Angeles-based B2B weekly deal site BizDeals.com.

This acquisition adds hundreds of new national sellers to the RapidBuyr network, enhances the company’s business services category and expands the RapidBuyr customer base, community, social assets and distribution footprint.

“We are thrilled to welcome BizDeals and its member network into the growing RapidBuyr community,” said RapidBuyr co-founder and chief marketing officer Darr Aley.

USA, Concord, MA & Los Angeles, CA

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Skimlinks Raises $4.5 Million Series B Round

November 11, 2011 — Fusion DigiNet

Skimlinks, an in-text monetization platform for Web publishers, has raised $4.5 million in Series B funding. Led by Bertelsmann Digital Media Investments (BDMI), the new investment will help continue Skimlinks’ growth in existing and new vertical markets within the United States and around the globe. It will also finance product research and development.

The new funding round continues Skimlinks’ strong investor momentum, bringing its total investments to $7.5 million to-date. In addition to BDMI, new investors 500startups and Venrex Investment Management and existing investors – Sussex Place Ventures, The Accelerator Group, and NESTA (National Endowment for Science, Technology and the Arts) – also contributed to the latest funding round.

“We chose BDMI to lead this round because of its stellar experience in both online publishing and advertising,” said Alicia Navarro, CEO of Skimlinks. “We’re delighted that all of our investors continue to believe in the value Skimlinks delivers, and we look forward to using this investment to continue our rapid expansion throughout Europe and the United States.”

“We are excited to be investing in Skimlinks. The team is energetic and inventive, and the space is open for technical innovation,” said Urs Cete, managing director of BDMI, who will be joining the Skimlinks Board.

USA, San Francisco, CA & UK, London

 

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RLJ Equity Partners acquires Media Source

November 9, 2011 — Fusion DigiNet

RLJ Equity Partners has acquired Media Source, the parent company of three businesses that promote and sell children’s books and a variety of services and products geared toward the library industry, including book collection development, magazine subscriptions, book reviews, websites, webinars, and conferences. RLJ Equity Partners, LLC was joined by 21st Century Group, LLC and New Canaan Funding Mezzanine, LLC in the transaction.

“We believe MSI is a very important company in terms of its contributions to improving library systems and public school systems,” said Robert L. Johnson, founder of The RLJ Companies and chairman of RLJ Equity Partners. “We are pleased to own a company that is a trusted resource for librarians and school systems across the country and look forward to expanding in metropolitan markets domestically and internationally,” he concluded.

Media Source is the leading provider of information content and editorial book reviews for academic, public, and school librarians serving tens of thousands of libraries and more than 100,000 librarians. MSI’s Junior Library Guild division reviews thousands of new children’s books each year and selects the best titles in more than 40 different categories. Its School Library Journal, Library Journal, and Horn Book divisions provide critical information and reviews to the library market via digital and print media products.

USA, Bethesda, MD

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The E.W. Scripps Company third quarter results

November 9, 2011 — Fusion DigiNet

Consolidated revenues from continuing operations were $168 million, a decrease of 8.6 percent from $184 million in the third quarter of 2010.

Operating expenses totalled $165 million, down 4.9 percent from the second quarter, and down 2.3 percent compared with the year-ago quarter. Restructuring costs, largely for the ongoing efforts to standardise and centralise certain functions that should benefit the newspaper division starting in 2012, were $2.6 million.

The third quarter results include a non-cash charge for the impairment of long-lived assets at four of the company’s newspapers. The company concluded that the fair value of certain of its newspapers was less than the carrying value of its net assets. Scripps recorded in the third quarter a $9 million, pre-tax, non-cash charge to reduce the carrying value of property and equipment.

Largely due to the impairment charge, the company reported an $18.2 million loss from continuing operations before income taxes, compared with what was essentially a break-even quarter a year ago.

The loss from continuing operations, net of tax, was $10.7 million, or 19 cents per share in the 2011 quarter, compared with income from continuing operations, net of tax, of $5.4 million, or 8 cents per share, in the year-ago quarter. Excluding the effect of the impairment charge, the loss from continuing operations, net of tax, would have been 9 cents per share in the most-recent quarter.

The tax provisions in the third quarter of both 2011 and 2010 include the impact of favourable settlements of the examinations of prior-year tax returns.

“We continue to reshape Scripps, improving the company’s short-term and long-term opportunities for growth,” said Rich Boehne, Scripps president and CEO. “We believe local TV stations are both good businesses today and attractive launching pads for the future, which is why during the quarter we agreed to purchase the nine stations now owned by McGraw-Hill Broadcasting. At a purchase price of $212 million, we should show a strong return on investment and gain access to TV and digital media consumers and advertisers in Indianapolis, Denver and San Diego. Plus we picked up a great small-market station in Bakersfield, Calif., and access to the developing Spanish-language market through five Azteca stations in Colorado and California. We’re eager to close the deal and bring these businesses into the Scripps fold.

USA, Cincinnati, OH

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Demand Media reports third quarter 2011 financial results

November 9, 2011 — Fusion DigiNet

Content and social media company Demand Media has reported financial results for the quarter ended September 30, 2011.

Financial Summary

GAAP

  • Revenue increased 25% to $81.5 million, compared with $65.4 million in Q310.
  • Loss from operations of $(3.3) million compared with income from operations of $0.9 million in Q310.
  • Net loss of $(4.1) million compared with a net loss of $(0.3) million in Q310. Net loss per share of $(0.05) compared with $(0.64) in Q310.
  • Cash flow from operations grew 36% to $22.1 million, from $16.3 million in Q310.

Non-GAAP (see the full statement Non-GAAP measures)

  • Revenue ex-TAC increased 26% to $78.1 million, from $62.2 million in Q310.
  • Adjusted OIBDA grew 33% to $21.7 million, or 27.7% of Revenue ex-TAC, compared with $16.3 million, or 26.2% of Revenue ex-TAC, in Q310.
  • Adjusted Net Income of $5.0 million increased 12% compared with $4.5 million in Q310. Adjusted Net Income per share – diluted of $0.06, grew 20% compared with $0.05 in Q310.
  • Discretionary Free Cash Flow increased 116% to $19.9 million compared with $9.2 million in Q310.
  • Free Cash Flow of $6.0 million compared with $(4.0) million in Q310.

“We reported another strong quarter as we continue to build Demand Media’s foundation for long-term growth,” said Richard Rosenblatt, Chairman and CEO of Demand Media. “The Company is uniquely positioned to deliver data-driven professional content through its robust content publishing platform. We are now in the process of optimizing that platform while increasing our investment in video content and enhancing the quality, engagement and user experience of our sites.”

  • Content & Media Revenue increased 27% to $50.7 million, compared with $39.8 million in Q310.
  • Traffic acquisition costs (TAC), which represent the portion of Content & Media revenue shared with Demand Media partners, of $3.4 million, or 6.7% of Content & Media revenue, compared with $3.2 million, or 7.9% of Content & Media revenue, in Q310.
  • Content & Media Revenue ex-TAC grew 29% to $47.4 million, from $36.7 million in Q310.
  • Registrar Revenue increased 20% to $30.7 million compared with $25.5 million in Q310.
  • Investment in Intangible Assets of $13.9 million increased 5% from $13.3 million in Q310.
Read the full statement here
USA, Santa Monica, CA
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Yell’s half year interim results

November 9, 2011 — Fusion DigiNet

Revenue in line with expectations

  • Print directories – deteriorating trend continues – down 20.1%
  • Digital directories – deteriorating trend continues – down 12.3%
  • Strong growth in digital services – up by 136.5%
  • Underlying growth – down 13.3%
  • A £100m debt buy-back is being considered.
  • The company built up a debt pile after a series of acquisitions which included its Spanish directories business. The company has no plans to sell existing businesses.

FY12 Outlook

  • EBITDA within current market expectations
  • Full year exceptional – reorganisation costs of circa £25m
  • Not expecting covenant breach within FY12
See the full presentation here
UK, Berkshire

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Adconion Media Group acquires smartclip

November 9, 2011 — Fusion DigiNet

Adconion Media Group has acquired digital video advertising business smartclip. terms of the deal were not disclosed. Adconion will gain 118 employees in Europe and expand to 27 offices servicing clients throughout the UK, Germany, France, Spain, the Netherlands, Belgium, Italy and Portugal in Western Europe; Sweden, Norway, Denmark and Finland in Northern Europe; and Russia.

The acquisition will strengthen Adconion’s position in online video in its existing markets and accelerate the deployment of its digital distribution platform into the emerging markets of Eastern and Central Europe and into the segment of Connected TV. The smartclip business with its expertise in digital video advertising will complement Adconion’s existing product range. The proprietary in-stream video and Connected TV technology of smartclip will be integrated with the Adconion platform, which is already delivering targeted ads and content across display, email, social and both in-banner and in-stream video

Prior to this acquisition Adconion had a potential reach of 687m unique users monthly across its global platform or just over half the global online population. Now, with the inclusion of over 500 new publisher sites from the smartclip portfolio, this number will grow significantly as well as increase the Adconion global footprint to 17 countries worldwide.

Tyler Moebius, Adconion’s  founder and CEO commented, “The addition of smartclip’s exclusive in-stream reach and Connected TV apps to our platform is an important development in growing the online video industry globally. We will now be providing advertisers an exclusive audience which they can reach in scale across in-banner, in-stream and Connected TV,” said

Matthias Quadflieg, Adconion’s chief operating officer international commented “We believe advertising will be the main monetisation vehicle for Connected TV programs and apps. The heritage of Adconion Media Group lies in maximising revenue for commercial partners through delivering the right audience, on the right platform, to the right brand, at the right time, at unprecedented scale.”

UK, London

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Adconion Media Group raises £21M to support acquisition plans and general operations Posted on May 12, 2011

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