AdVantage Networks acquires Travora Media

February 13, 2013 — Fusion DigiNet

travora1Advertising technology company AdVantage Networks has acquired Travora Media, a travel and lifestyle media company. Terms of the deal were not disclosed.

Headquartered in New York City. Travora is the second largest travel information network with hundreds of travel publishers delivering desktop and mobile solutions that attract 30 million unique visitors while generating 1.3 billion monthly mobile page views. Travora offers exclusive publisher solutions across all stages of the travel lifecycle and represents leading travel brands, including Fodor’s, Viator, and Vayama. Travora delivers turnkey revenue solutions for travel publishers and total access to a travel and lifestyle audience across local, social, and mobile platforms for brands. Travora was previously a portfolio company of StarVest Partners, Rho Capital Partners, and Village Ventures.

Note AdVantage Networks is a wholly owned subsidiary of JMG Exploration. JMG Exploration is soon to be renamed MediaShift.

USA, Glendale, CA & New York, NY

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Yahoo! acquires mobile app creator Alike

February 13, 2013 — Fusion DigiNet

YahooYahoo! has acquired Alike, a mobile app that helps people find nearby restaurants and places they’ll like. Alike makes money through affiliate partnerships with third-party providers that aggregate deals for local venues.

Here is how Alike announced the acquisition.

At Alike, we’ve spent the last couple of years working hard to build amazing mobile experiences to delight our customers, which is alike_logo_coral-4fdb275b8fa65a199fecac60239886c7why we’re thrilled to announce some big news: we’re joining Yahoo! Mobile.

We’ve always been passionate about the growing power of intelligent mobile experiences. We believe that distilled information, deeply personalized and made accessible anytime and anywhere, is what makes mobile experiences a part of our customers’ daily lives.

In Yahoo! we’ve found a team as excited about this vision as we are, and who are serious about making it real. We’re super excited to join Yahoo!’s mobile team, where we can march toward that vision faster than ever.

As of today, we will no longer support the Alike Nearby iPhone and Web apps. Thank you to all our customers, partners, investors, and advisors who’ve supported us from day one! We’ve taken a big step on our journey, and we could not have done it without your support.

Looking forward to starting our new chapter at Yahoo!

USA, Sunnydale, CA

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Cox Media Group sells radio stations in six markets

February 13, 2013 — Fusion DigiNet

coxmediaCox Media Group (CMG) is to sell radio stations in six markets as part of its broadcast portfolio realignment.

CMG is to sell its Southern Connecticut radio stations – WPLR-FM, WEZN-FM, WFOX-FM, and contract rights for WYBC-FM – to Westport, CT. based Connoisseur Media. CMG is to sell its radio stations in five other markets to SummitMedia, including:

Birmingham (WAGG-AM, WBHJ-FM, WBHK-FM, WENN-AM, WZZK-FM, WZNN-FM, WBPT-FM, and CMG’s contract rights for WALJ-FM)
Greenville, S.C. (WJMZ-FM, WHZT-FM)
Hawaii (KRTR-AM/FM, KPHW-FM, KCCN-FM, KINE-FM, KKNE-AM)
Louisville (WRKA-FM, WVEZ-FM, WSFR-FM, WQNU-FM)
Richmond (WHTI-FM, WKHK-FM, WKLR-FM, WURV-FM)

“These are all important brands powered by talented media professionals who tirelessly serve their audiences, advertisers and communities,” said CMG President Doug Franklin . “We wish all of the employees well and know they will continue to work hard to produce quality entertainment, news and information for their customers and new owners.”

The sales are expected to close during the second quarter following receipt of regulatory approvals.

USA, Atlanta, GA

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AOL reports revenue growth for the first time in 8 years in Q4 2012

February 12, 2013 — Fusion DigiNet

aol-logo-3

AOL has reported earnings for Q4 2012, showing revenue growth for the first time in 8 years. Revenues came in at $599.5 million on earnings of 41 cents per share.

Summary below

Full report here

  • AOL Returns to Full Year Adjusted OIBDA* Growth in 2012
  • AOL Operating Income Grows 24%
  • AOL’s 13% Global Advertising Revenue Growth Drives Total Company Revenue Growth
  • AOL’s Search Revenue Grows 17% Driven by Continued Growth on AOL.com
  • AOL’s Subscription Revenue Declines 10%, Equaling Lowest Percentage Decline in 6 Years
  • AOL Properties Unique Visitors in Q4 Grew 6% Year-over-Year
  • Diluted EPS of $0.41 Compares to $0.23 in Q4 2011
  • AOL Paid a $5.15 per Share Special Dividend Completing the Return of $1.1 Billion to Shareholders
  • AOL Reduced Common Shares Outstanding by 19% Year-over-Year as of December 31, 2012
  • AOL’s Board Authorizes the Repurchase of up to $100 Million of Common Stock

“AOL returned to growth and generated significant value for shareholders in 2012,” said Tim Armstrong, Chairman and CEO. “AOL has strong momentum entering 2013 and is positioned to continue on our growth path by executing our strategy to build the next generation media and technology company.”

*OIBDA – Adjusted operating income before depreciation and amortization

Click on the table to enlarge it

aol results2 2012

 

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Linkedin reports revenues up 81%

February 12, 2013 — Fusion DigiNet

linkedin1LinkedIn has reported its financial results for the fourth quarter and full year ended December 31, 2012.

 

Read the full report here

Summary below

  • Revenue for the fourth quarter was $303.6 million, an increase of 81% compared to $167.7 million in the fourth quarter of 2011.
  • Net income for the fourth quarter was $11.5 million, compared to net income of $6.9 million for the fourth quarter of 2011. Non-GAAP net income for the fourth quarter was $40.2 million, compared to $13.3 million for the fourth quarter of 2011. Non-GAAP measures exclude tax-affected stock-based compensation expense and tax-affected amortization of acquired intangible assets.
  • Adjusted EBITDA for the fourth quarter was $78.6 million, or 26% of revenue, compared to $34.4 million for the fourth quarter of 2011, or 21% of revenue.
  • GAAP diluted EPS for the fourth quarter was $0.10; Non-GAAP diluted EPS for the fourth quarter was $0.35.
  • For the full year 2012, revenue increased 86% to $972.3 million from $522.2 million. GAAP diluted EPS increased to $0.19 from $0.11 and Non-GAAP diluted EPS increased to $0.89 from $0.35. Adjusted EBITDA increased to $223.0 million from $98.7 million.

“2012 was a transformative year for LinkedIn,” said Jeff Weiner, CEO of LinkedIn. “We exited 2011 having successfully revamped our underlying development infrastructure. Based on that investment, we said that 2012 would be a year of accelerated product innovation, and it was. The products we delivered throughout the year drove member engagement and financial results to record levels in the fourth quarter.”

Fourth Quarter Financial Details and Operating Summary

  • Talent Solutions: Revenue from Talent Solutions products totaled $161.0 million, an increase of 90% compared to the fourth quarter of 2011. Talent Solutions revenue represented 53% of total revenue in the fourth quarter of 2012, compared to 51% in the fourth quarter of 2011.
  • Marketing Solutions: Revenue from Marketing Solutions products totaled $83.2 million, an increase of 68% compared to the fourth quarter of 2011. Marketing Solutions revenue represented 27% of total revenue in the fourth quarter of 2012, compared to 30% in the fourth quarter of 2011.
  • Premium Subscriptions: Revenue from Premium Subscriptions products totaled $59.4 million, an increase of 79% compared to the fourth quarter of 2011. Premium Subscriptions represented 20% of total revenue in the fourth quarter of 2012 and 2011.

Revenue from the U.S. totaled $189.0 million, and represented 62% of total revenue in the fourth quarter of 2012. Revenue from international markets totaled $114.6 million, and represented 38% of total revenue in the fourth quarter of 2012.

Revenue from the field sales channel totaled $178.4 million, and represented 59% of total revenue in the fourth quarter of 2012. Revenue from the online, direct sales channel totaled $125.3 million, and represented 41% of total revenue in the fourth quarter of 2012.

GAAP net income for the fourth quarter was $11.5 million, compared to net income of $6.9 million for the fourth quarter of 2011. Non-GAAP net income for the fourth quarter was $40.2 million, compared to $13.3 million in the fourth quarter of 2011.

Adjusted EBITDA for the fourth quarter was $78.6 million, or 26% of revenue, compared to $34.4 million for the fourth quarter of 2011, or 21% of revenue.

Linkedin dominates professional networking on the Internet, and now has more than 200 million members

USA, Mountain View, CA

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Go Daddy acquires M.dot

February 12, 2013 — Fusion DigiNet

mdotWeb hosting business Go Daddy, has acquired M.dot, a mobile app for small business website creation and management. Terms of the deal were not disclosed.

The M.dot app offers mobile website creation based on pre-loaded templates with easy-to-use custom features, such as store location, driving directions, tap-to-call, galleries, business hours and price lists, all in a user-interface designed for mobile device screens. It also includes a blog feature, which allows users to write and insert photos and video with rich text capabilities. It integrates with Facebook, Twitter, Flickr, YouTube and Dropbox.

“We’re pleased to welcome M.dot to our growing Go Daddy family,” said Go Daddy CEO Blake Irving, “M.dot’s global vision of a mobile future for small businesses fits beautifully with what our customers need right now.

M.dot was founded by Dominik Balogh and Pavel Serbajlo in June 2012. They have the backing of leading Silicon Valley investors including Floodgate, SV Angel and Archimedes Labs. The company will operate from Go Daddy’s Silicon Valley office.

USA, Sunnyvale, CA

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I-5 Publishing acquires special interest media brands from BowTie Inc

February 12, 2013 — Fusion DigiNet

i-5Publishing-52x60I-5 Publishing LLC, a newly-formed joint venture of publishing industry executives David Fry and Mark Harris, has acquired the books, magazines and websites of BowTie Inc., the publisher of special-interest brands such as Cat Fancy and Dog Fancy.

The acquisition, effective February 1, 2013, includes consumer magazines like Horse Illustrated and Urban Farm, trade magazines like Pet Product News International, websites including AnimalNetwork.com and DogChannel.com, and books including Dog Heroes of September 11th and The Original Dog Bible.

“We are thrilled to bring these storied brands under our umbrella,” said Harris, who has been appointed interim CEO of I-5 Publishing. “Combining the talented, passionate teams that have built such a robust content engine with the technology and expertise of our existing joint ventures creates the perfect platform on which to create an infinite variety of special-interest content for delivery in all formats.”

I-5 Publishing is the latest in a series of partnerships between Fry and Harris and their respective companies. Harris is the co-founder and co-owner of National Publisher Services. Fry is the chairman of NPI Ventures, LLC, which owns 50-percent of NPS, and the Chief Technology Officer of Fry Communications.

Harris and Ambrose will be joined on the executive team by former BowTie executives Nicole Fabian, Chief Financial Officer, June Kikuchi, Chief Content Officer and Dolores Whitlo, VP of Consumer Marketing.

USA, Irvine, CA

 

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A Fusion Deal: Law Business Research sold to Bowmark Capital

February 11, 2013 — Fusion DigiNet

lbrFusion Corporate Partners are pleased to announce the sale of specialist legal publisher Law Business Research to Bowmark Capital, the mid-market private equity firm. Bowmark Capital invested alongside the company’s founders, Richard Davey, Callum Campbell and Sebastian O’Meara. The terms of the deal were not disclosed. The Fusion team was led by Paul Slight.

Established in 1996, Law Business Research (“LBR”) publishes research, data and analysis on international business law and legal markets.  The company produces leading publications in fields such as international anti-trust law, arbitration law and Latin American law, and prides itself on creating essential and unique information for its subscribers in over 100 jurisdictions.

LBR today employs over 100 people in the UK, US and Brazil.  Its portfolio of products spans news publications, know-how guides, legal rankings and events, and includes titles such as “Global Competition Review”, “Global Arbitration Review”, “Getting The Deal Through” and “Latin Lawyer”.  The company serves all the world’s leading law firms and counts a large number of major corporations and regulators among its clients.

The international legal market has grown significantly in recent years, driven by globalisation and the growth in cross-border trade, and this has fuelled the demand for increasingly sophisticated and timely information from the legal profession.  With the backing of private equity, LBR is now seeking to further capitalise on this growth, by expanding both its sector and geographic coverage.

Richard Davey, LBR’s managing director, commented:  “We have ambitious plans to continue developing our business, and to further extend the depth and breadth of our services – while continuing to provide the highest quality content to our subscribers worldwide.  In Bowmark, we have found a supportive and experienced financial partner to help us achieve these goals.”

Bowmark partner, Julian Masters, said:  “LBR is a unique business in a growing market, with an outstanding reputation based on the quality of its content.  We are delighted to be backing Richard Davey and his team in the next stage of the company’s growth.”

UK, London

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A Fusion Deal: Wilmington Group acquires NHiS

February 11, 2013 — Fusion DigiNet

nhis_logo_greyFusion Corporate Partners are pleased to announce the acquisition of NHiS Limited by Wilmington Group plc. Fusion acted exclusively for the shareholders of NHiS Limited. The Fusion team responsible for the transaction were led by Mark Eisenstadt.

Wilmington Group will pay an initial cash consideration of £5.6m and a further deferred consideration of up to £3.75m subject to the Business achieving targets for the growth in underlying profit. 

The deferred consideration will be satisfied by issuing of up to 1.5m new Wilmington Group plc shares in October 2016 dependent interwilmington-logo alia upon NHiS’s audited future earnings for the years ended 30th June 2015 and 30th June 2016. The Business was acquired with cash of £0.6m and the initial consideration will be financed out of the Group’s existing £65m debt facility.

The existing executive management team led by Nick Merryfield, the founding Managing Director, and Paul Midgley will remain with the business and they, along with five other individuals, comprise the vendors of the Business.

Nick Merryfield, talking about the process said, “I must thank Fusion for orchestrating the sale process professionally and with great skill. As a leading provider of business intelligence, data analysis, workflow tools and other services to pharmaceutical companies in the UK we wanted to work with an M&A house that understood our business and the marketplace. Mark was our point man and was key in engineering a successful outcome.”

 

NHiS has been in operation since 2007 and is a leading provider of business intelligence, data analysis, workflow tools and other services to pharmaceutical companies in the UK. Around 40% of its revenue is derived from subscriptions and the business has enjoyed high overall renewal rates as defined by customer spend in excess of 90%. Over 75% of NHiS revenue is delivered digitally.

The Business will form part of the Wilmington Healthcare Division and will work closely with the highly complementary Binley’s Healthcare Information business.

NHiS’s last annual results to March 2012, showed revenue of £1.8m, up 45% from the prior year and profits before tax and nonrecurring costs of £0.8m. The Business has seen a strong start to the year and turnover for the first nine months increased by 20%. Deferred income as 31st December 2012 was up 50% on 31st December 2011. Gross Assets at 31st March 2012 were £1.6m. 

Charlie Brady, Chief Executive of Wilmington Group, said;

“NHiS is an innovative business that has built up a major business intelligence and technology capability in a complementary area where our own Binleys Healthcare Information continues to see good growth potential. The Business will benefit from being part of a larger group with the infrastructure and resources of Binleys. We are particularly pleased that the existing highly experienced management team are joining the Wilmington Group and look forward to working with them as they continue to develop NHiS”. 

UK, London & Nottingham

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Vitesse Media plc – trading update

February 7, 2013 — Fusion DigiNet

vitessemedia

Vitesse Media Plc, the AIM-quoted media business, has issued a trading update ahead of the announcement of its full year audited results to 31 January 2013.

 

The announcement is as follows:

The Company’s performance in the second half of the year improved, with the trading loss in the second half reducing considerably, both against the first half of the financial year and the corresponding period of the previous financial year.

Turning points have been reached in some of our key product titles. GrowthBusiness.co.uk, which was re-launched early in 2012, delivered like-for-like revenue increases in the final quarter of 13 per cent., compared to the same period the previous year.  WhatInvestment.co.uk, which was re-launched just before Christmas 2012, saw traffic increase 40 per cent. in January 2013 compared to January 2012, assisted by the improving stock market conditions.  In the Events division, our technology venture capital event, Investor All Stars, saw attendances reach a ten-year high.  This week we expect to complete the final stages of our investment programme, with the re-launch of the SmallBusiness.co.uk and Information-Age.com web sites.

During the last two years, our databases have been reconfigured into Sales Force, all four of our major web sites have been completely overhauled, all our titles have been digitised and there has been an investment in social media to extend our marketing capabilities.  Niki Baker was appointed CEO in September 2012 and the business was reorganised into four teams: SME Business, Technology, Investment and Events.  This has led to a greater focus on driving results.

Bookings for the first quarter of the financial year 2013/4 have stabilised and the plans to launch two new digital subscription products and two new events during the first half are at an advanced stage.

Despite the difficult trading conditions, the directors believe that the changes implemented over the past two years mean that the company is now fully positioned to develop as a growing digital, events and research business and view the outlook as encouraging.

UK, London

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