Could DMGT sell Northcliffe?

November 28, 2010 — Fusion DigiNet

The Sunday Times is reporting that Daily Mail and General Trust may sell its regional newspaper arm, Northcliffe.

James Ashton writes in the Business section, “The Daily Mail group is preparing to water down staff pension benefits in a move that may ease the path for the sale of its regional newspaper arm.”

UK, London

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BMG Rights Management is acquiring Chrysalis for £107M

November 27, 2010 — Fusion DigiNet

BMG Rights Management is acquiring independent music publisher Chrysalis. Chrysalis shareholders will receive 160 pence in cash for each Chrysalis Share held. The Acquisition values Chrysalis at approximately £107.4 million.

Hartwig Masuch, the CEO of BMG, said: “We believe that our offer represents compelling value for Chrysalis’ shareholders as evidenced by the strong endorsement BMG has received from Chrysalis’ Board and its major shareholders. The acquisition of Chrysalis represents an important step forward in our strategy as we build a major, global music rights business. Chrysalis’ extensive and high quality catalogue represents an excellent fit with our existing business. Our strategy is to provide state-of-the-art, comprehensive and transparent management of music rights and the operational excellence of Chrysalis reinforces this commitment. BMG looks forward to working with Chrysalis to build on its success to date for the benefit of all stakeholders.”

Chris Wright, Chairman and Co-Founder of Chrysalis, said: “Today’s deal marks the end of one era and the start of another for Chrysalis, a company which has been at the heart of the music industry since I founded it jointly with my original partner, Terry Ellis, more than four decades ago. Our continued progress – evolving from management, recorded music, television and radio to focus on music publishing – has been clearly recognised by BMG. As we embark together on the next chapter of the Chrysalis story, I am proud of both our track record and our future prospects in an industry in which we have both innovated and pioneered.”

UK, London and Germany, Berlin

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DMGT back on the acquisition trail?

November 25, 2010 — Fusion DigiNet

The Guardian reports that Daily Mail & General Trust’s strong balance sheet could see it back on the acquisition trail – but not in regional newspapers. DMGT’s debt position has reduced from £1bn down to £862m in the year to 3 October.

Martin Morgan, the chief executive of Daily Mail & General Trust says that the first priority is extra investment in its existing operations, followed by “bolt-on acquisitions to good existing businesses”.

He is not looking to make a major acquisition in new sectors, nor is looking to buy a rival

Read the full story here

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Tony Elliott sells 50% of time Out to Oakley Capital

November 25, 2010 — Fusion DigiNet

Time Out has sold a 50 percent stake to Oakley Capital Investments, a Bermudan based company listed on AIM, for £10 million.

Time Out founder and chairman Tony Elliott said: “I have considered many potential investors over the last seven years to help the brand with the next phase of development and I believe that Oakley Capital, with its entrepreneurial operational focus, will help us with this. I genuinely believe that I have found a real partner for what I expect to be a hugely successful worldwide digital journey.”

Peter Dubens, director of Oakley Capital Investments, said: “It is very rare to be able to help with such a renowned, iconic brand as Time Out, which over the last 42 years has provided first class editorial on culture and entertainment to over 50 cities around the world.  We believe that we will help this brand both in its traditional media and the continued transition to digital over the coming years.”

Time out was launched by Tony Elliot 42 years ago. It now has 36 city magazines published independently in 24 countries, 22 travel magazines in 19 countries, guide books, events and an online presence. Time Out is to be the official book publisher of travel guides and photographic books for London 2012 Olympic and paralympic games. Online-only advertiser-funded magazines are to be launched around the world. Berlin, Barcelona and Paris are tipped to be the first cities to benefit from the development.

UK, London

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News Corp acquires Wireless Generation

November 23, 2010 — Fusion DigiNet

News Corp. has acquired 90% of Wireless Generation, a privately-held Brooklyn-based education technology company for about $360 million in cash. Upon completion of transaction, Wireless Generation will become a subsidiary of News Corp.

Wireless Generation will be managed by founder and CEO Larry Berger, President and COO Josh Reibel, and Executive Vice President and Chief Product Officer Laurence Holt, who will collectively retain a 10% interest.

USA, Brooklyn, NY

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NEP Broadcasting acquires American Hi Definition

November 23, 2010 — Fusion DigiNet

Broadcast and media services business NEP Broadcasting has acquired American Hi Definition. the businesses will be merged into the NEP Entertainment division.

The Sage Group, LLC acted as the exclusive financial advisor and Manatt, Phelps & Phillips, LLP acted as legal counsel to American Hi Definition and Sweetwater.

“Sweetwater and American Hi Definition are a tremendous addition to NEP.  We are thrilled to have their expertise and talent as part of our group.  I know that this combined team will truly enhance the services we provide to our entertainment clients,” said NEP Broadcasting CEO, Debbie Honkus.

NEP will provide an integrated set of services and technology to the entertainment industry across seven business units, offering: mobile television production solutions provided by Denali and Sweetwater, full-service studio production services by Studios, mobile and modular LED video screens and video projection from Screenworks and American Hi Definition, power generation and distribution from Live Power, and mobile and live-to-web event production provided by Premiere Entertainment.

USA, Pittsburgh, PA

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EDGAR Online and UBmatrix merge

November 23, 2010 — Fusion DigiNet

EDGAR Online has merged with UBmatrix to creates a global, end-to-end provider of solutions for the creation, validation and analysis of XBRL (eXtensible Business Reporting Language) content. The stockholders of EDGAR Online approved the stock issuances contemplated by the merger agreement at the Company’s 2010 Annual Meeting on November 18, 2010 following previous approvals by the Board of Directors of the Company, and the Board of Directors and shareholders of UBmatrix. UBmatrix, one of the original inventors of the XBRL financial standard, will operate as a wholly-owned subsidiary of EDGAR Online, maintaining its existing brands.

The merger was an all equity transaction with the issuance by EDGAR Online of preferred and common shares equal to approximately 16% of the Company’s common stock on a fully diluted basis, subject to post-closing adjustments. In addition to the merger consideration, current UBmatrix shareholders have invested an additional $2 million in cash into the Company through the purchase of additional EDGAR Online preferred shares (convertible into 1,381,088 common shares of EDGAR Online as of January 28, 2015). Further details may be found in EDGAR Online’s definitive proxy statement filed with the SEC on October 20, 2010.

“I am extremely pleased that we have completed this strategic merger of two of the leading companies in XBRL today,” said John Connolly, Interim CEO of EDGAR Online. “UBmatrix has strong expertise and leadership in the software used by global regulators—including the U.S. Securities and Exchange Commission through its contract with Keane Federal Systems—as well as by major corporations through its enterprise software partners such as Oracle and SAP. UBmatrix’s products are great complements to our existing filing creation services and data products that will enable us to efficiently expand our XBRL footprint, take advantage of new partnerships, customers and efficiencies, and capitalize on a dynamic and growing market.”

EDGAR Online noted that the users of and applications for XBRL are growing rapidly, driven in part by government regulations. As mandated by the SEC, in June 2011 more than 8,000 additional public, private and foreign companies will begin filing in XBRL, and beginning in January 2011 more than 8,000 mutual funds must file their risk/return summaries in XBRL.

The merger with UBmatrix marks a significant milestone in EDGAR Online’s transformation from a niche provider of U.S. SEC EDGAR documents into a leading provider of XBRL products and services that improve the flow of business information, and a business with diverse revenue streams that is well positioned to capitalize on the exploding XBRL market. The combined company will have the ability to serve customers with a comprehensive set of products and services, great depth of experience and a strong set of partners in the XBRL market.

USA, New York, NY & Redwood City, CA

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August Equity LLP exits its investment in Imagine Publishing

November 23, 2010 — Fusion DigiNet

Private Equity firm August Equity has completed the exit of its investment in Imagine Publishing via a refinancing and buy back.  The buy back generates a 2 times money multiple return for August Equity managed funds.

Imagine is one of the UK’s fastest-growing specialist consumer magazine publishers, with over 20 print magazines, 18 iPhone/iPad digital editions, and 27 websites published worldwide within the entertainment, computing, digital photography and videogames markets.

August Equity managed funds initially invested in Imagine in January 2006 when they provided £7 million expansion capital, enabling the management team to acquire a portfolio of magazine titles from Highbury Entertainment Limited.  Since then the group has acquired a number of magazines, launched a host of their own titles and produced a bookazine range which has significantly contributed to the growth of the business.

Damian Butt, managing director of Imagine, commented: “The August Equity team has been very supportive throughout the investment period and contributed significantly to the growth of the business.  However, we are excited to have bought back the August Equity stake and will continue to develop our magazine, bookazine and website portfolio.”

Richard Green, August Equity chairman, said: “We are delighted with the exit of Imagine.  The business has continued to grow strongly in a difficult market and has provided a healthy return for our investors.  The team is highly focussed and creative and will continue to drive growth in the business.

UK, London and Bournemouth, Dorset

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Axel Springer has been on a digital buying spree

November 20, 2010 — Fusion DigiNet

An interesting article on paidContent earlier this week describes how Axel Springer has been on a digital buying spree, taking stakes in CarWale: (giving springer 52.1%), BagItToday.com (19.1%), Sohomint.com (72.6%) and Buy.at. Also had an offer rejected for eLoger.com.

Read the full story on paidContent here.

Axel Springers announcements are below.

Germany, Berlin

Announcements

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Aspiro sells mobile entertainment business to Exsol Oy

November 20, 2010 — Fusion DigiNet

TV and music streaming services business Aspiro has sold its remaining Mobile Entertainment business in Finland to Exsol Oy. The initial purchase price is €100,000, plus an earn-out which should give Aspiro a minimum of €200,000 euros over a two year period. The earn-out model is based on 15% percent of the pay-outs from the operators. Net sales for the Mobile Entertainment business in Finland from January-September 2010 was about 7.5 million SEK. Earnings after direct expenses for the same period were approximately 1.8 million SEK and EBITDA of minus 0.7 million SEK.

“We are streamlining our operations and focusing mainly on streaming services in music, television and video, as well as business solutions in the Mobile Solutions area. We see very high growth potential in the future and it is therefore positive that we can focus even more on our core business, “says Aspiro’s CEO Gunnar Sellæg.

Aspiro delivers services to partners worldwide like T-Mobile, Telefónica O2, Telenor, 3, TeliaSonera, Tele2, the BBC, Aftonbladet, mBlox, TVNorge, Entel and VG. Aspiro is listed on Nasdaq OMX Nordic Exchange Stockholm and has a local presence in all the Nordic and Baltic countries. Sales for continuing operations in 2009 were SEK 249 m and the company has some 115 employees.

Finland

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