Aurelius acquires Connect Group’s Books division for £11.6M

December 21, 2017 — Fusion DigiNet

Aurelius EquityAurelius Equity Opportunities the pan-European mid-market investor, has bought Connect Books from the specialist distribution company Connect Group Plc for £11.6 million. The sum includes an expected deferred consideration of £1.05 million.

Connect Books is a multi-channel wholesaler, distributor and retailer of printed and digital books, with operations in UK, the Netherlands, and France. The business has projected revenues of approximately EUR 250 million for 2017. The transaction is subject to the approval of the competition authorities and is expected to close in January 2018.

Connect Books is comprised of the six distinct brands Bertram Books, Wordery, Dawson Books, Erasmus and Houtschild, and Bertram Library Services. On completion, Connect Books will be rebranded back to Bertram Group.

Dirk Markus, CEO of Aurelius, commented: “We are very pleased to announce our acquisition of Connect Books, an established, global business and one of the market leaders in its sector. This acquisition is a further demonstration of AURELIUS’ position as a preferred partner for corporates seeking a complex carve-out of a non-core business”.

Germany, Munich & UK, London

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Penske Media acquires controlling interest in Wenner Media and Rolling Stone

December 20, 2017 — Fusion DigiNet

Penske Media CorporationPenske Media Corporation has acquired Wenner Media, majority owner of Rolling Stone. The multi-media brand features music reviews, in-depth interviews, political commentary and award-winning journalism across various platforms including magazine, digital, mobile, social and event marketing. The financial terms of the investment were not disclosed.

Since its founding in 1967 by Jann Wenner and Ralph J. Gleason, Rolling Stone has defined pop culture for generations of readers and is an iconic brand in publishing and music. Five decades later, Rolling Stone has evolved into a multi-platform content brand reaching over 60 million people per month.

Penske Media chairman and CEO Jay Penske said, “Our interest in Rolling Stone is driven by its people, its cultural significance, and the globally-recognized brand that has no peer in its areas of influence. We believe that Penske Media is uniquely qualified to partner with the Wenners to ensure the brand continues to ascend for decades across multiple media platforms.”

USA, Los Angeles, CA & New York, NY

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Penn National Gaming to Acquire Pinnacle Entertainment for $2.8BN

December 18, 2017 — Fusion DigiNet

Penn National GamingPenn National Gaming has entered an agreement to acquire Pinnacle Entertainment for approximately $2.8 billion. Under the terms of the agreement, Pinnacle shareholders will receive $20.00 in cash and 0.42 shares of Penn National common stock for each Pinnacle share, which implies a total purchase price of $32.47 per Pinnacle share. The transaction has been approved by the boards of directors of both companies and is expected to close in the second half of 2018.

Pinnacle owns and operates 16 gaming and entertainment facilities in 11 jurisdictions across the United States. Following the acquisition of Pinnacle and the planned divestiture of four of its properties to Boyd Gaming Corporation, Penn National will have greater operational and geographic diversity and operate a combined 41 properties in 20 jurisdictions throughout North America. The transaction is expected to generate $100 million in annual run-rate cost synergies following integration and is anticipated to be immediately accretive to free cash flow in the first year.

Timothy J. Wilmott, Chief Executive Officer of Penn National Gaming, commented, “The combined company will benefit from enhanced scale, additional growth opportunities and best-in-class operations, creating a more efficient integrated gaming company. Going forward, we will have the financial and operational flexibility to further execute on our strategic objectives, while maintaining our track record of industry-leading profit margins and generating significant cash flow to reduce leverage over time.”

USA, Wyomissing, PA & Las Vegas, NV

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India’s Times Internet acquires spiritual content app House of God

December 18, 2017 — Fusion DigiNet

Times Internet IndiaTimes Internet Ltd, a subsidiary of media house Bennett Coleman and Co. Ltd, has acquired the spiritual content app House of God, which is run by Innertech Media Solutions Pvt. Ltd. The terms of the transaction were not disclosed.

Innertech Media Solutions is a New Delhi-based startup, incorporated in 2017 and incubated at EROS Labs, which offers online religious media, product and services covering six different religions.

Gautam Sinha, CEO of Times Internet, said, “Our user base has continuously asked for innovative products and services in the religious and spiritual interest category. Consistent to our strategy of catering to a mobile-first audience base in India, the House of God acquisition will extend our leadership in spiritual content experiences”.

India, Gurgaon Haryana & New Delhi

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Walt Disney set to acquire 21st Century Fox businesses for $52.4BN

December 14, 2017 — Fusion DigiNet

walt disney companyThe Walt Disney Company has entered into an agreement to acquire 21st Century Fox, including the Twentieth Century Fox Film and Television studios, along with cable and international TV businesses, for approximately $52.4 billion in stock.

Prior to the acquisition, 21st Century Fox will separate the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network into a newly listed company that will be spun off to its shareholders.

Combining with Disney are 21st Century Fox’s film production businesses, including Twentieth Century Fox, Fox Searchlight Pictures and Fox 2000, and its storied television creative units, Twentieth Century Fox Television, FX Productions and Fox21. Disney will also acquire FX Networks, National Geographic Partners, Fox Sports Regional Networks, Fox Networks Group International, Star India and Fox’s interests in Hulu, Sky plc, Tata Sky and Endemol Shine Group.

Under the terms of the agreement, shareholders of 21st Century Fox will receive 0.2745 Disney shares for each 21st Century Fox share they hold. Disney will also assume approximately $13.7 billion of net debt of 21st Century Fox. The acquisition price implies a total equity value of approximately $52.4 billion and a total transaction value of approximately $66.1 billion for the business to be acquired by Disney, which includes consolidated assets along with a number of equity investments.

The acquisition is expected to yield at least $2 billion in cost savings from efficiencies realized through the combination of businesses, and to be accretive to earnings before the impact of purchase accounting for the second fiscal year after the close of the transaction.

Robert A. Iger, Chairman and Chief Executive Officer of The Walt Disney Company, said, “We’re excited about this extraordinary opportunity to significantly increase our portfolio of well-loved franchises and branded content to greatly enhance our growing direct-to-consumer offerings. The deal will also substantially expand our international reach, allowing us to offer world-class storytelling and innovative distribution platforms to more consumers in key markets around the world.” Mr. Iger will continue as Chairman and Chief Executive Officer of The Walt Disney Company until the end of 2021.

USA, Burbank, CA & New York, NY

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Media Development Investment Fund acquires majority stake in South Africa’s Mail & Guardian

December 12, 2017 — Fusion DigiNet

MDIF Media Development Investment FundMedia Development Investment Fund, a New York-based not-for-profit investment fund for independent media in emerging markets, has acquired a majority stake in South African media company Mail & Guardian. The terms of the deal were not disclosed.

The restructured ownership sees M&G’s Chief Executive Officer, Hoosain Karjieker, acquire a minority stake in the business as part of a Black Economic Empowerment (BEE) transaction.

The Mail & Guardian is an award-winning South African title edited by Khadija Patel who was this week named as one of Africa’s leading talents by the New African magazine.

Trevor Ncube, the newspaper’s former publisher, said “My partner for 14 years, the MDIF, under the leadership of Harlan Mandel have put forward a compelling case plan that will ensure the survival of the M&G well into the future. Ownership of the M&G is equivalent to carrying a baton that gets passed on from generation to generation with just this underlying principle: Editorial independence is sacrosanct. I have often said my role over the past 25 years has been more of a custodian of a great South African asset, than an owner.”

USA, New York, NY & South Africa, Johannesburg

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Groupe Lexis Media acquires 12 Transcontinental Media publications

December 12, 2017 — Fusion DigiNet

Lexis MediaGroupe Lexis Media has acquired 12 of Transcontinental Inc.‘s publications, as well as their related web properties, with 75 employees of these various publications and 16 employees from TC Media’s Production team being transferred to the buyer. With the completion of this transaction, 60% of the publications included in the sale process of TC Media’s local and regional newspapers in Quebec and Ontario, launched in April 2017, are now in the hands of local owners. The terms of the transaction were not disclosed.

Transcontinental is Canada’s largest printer with operations in print, flexible packaging, publishing and digital media and has more than 7,000 employees in Canada and the United States, and revenues of C$2.0 billion in 2016. Their mission is to create products and services that allow businesses to attract, reach and retain their target customers.

The newspapers acquired by Groupe Lexis Media are: Le Citoyen Rouyn-Noranda, Le Citoyen de la Vallee-de-l’Or, L’Echo Abitibien and La Frontiere, distributed in Abitibi-Temiscamingue; L’Action D’Autray, L’Action – Wednesday Edition, L’Action – Weekend Edition, L’Express Montcalm and Hebdo Rive-Nord, in Lanaudiere; Le Bulletin, La Petite-Nation and La Revue, in Outaouais.

Mr. Frederic Couture, President of Groupe Lexis Media, said: “Since its beginnings, Lexis Media has carved out a prominent position for itself in the media industry by bringing on a passionate editorial team and collaborators, and highly professional sales representatives. We intend to carry on this tradition as we confidently embark on this new phase of our development.”

Canada, Montreal & St-Bruno-de-Montarville, Quebec

 

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GlobalData acquires MEED Media from Ascential for £17.5M

December 8, 2017 — Fusion DigiNet

GlobalDataGlobalData PLC has announced the acquisition of MEED Media FZ LLC  from Ascential PLC for a cash consideration of $17.5 million. MEED, formerly known as the Middle East Economist Digest, provides premium business information content with an industry focus on infrastructure and projects in the Middle East. The business services its growing client base principally through annual subscription contracts.

As reported on Fusion DigiNet in January 2016, GlobalData Holding Limited, a company then owned by Mike Danson and Wayne Lloyd, was acquired by Progressive Digital Media Group Plc. Mike Danson is Executive Chairman of Progressive Digital Media Group.

Commenting on the acquisition Bernard Cragg, Executive Chairman of GlobalData, said: “MEED gives the Group the opportunity to further expand into a key region and adds an additional industry vertical to our offering whilst maintaining our disciplined investment criteria of premium proprietary content and strong renewable subscription based revenues.”

UK, London & UAE, Dubai

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A Fusion Deal: AI Business sold to Informa (Knect365)

December 6, 2017 — Fusion DigiNet

AI Business

AI Business, the media and events organisation dedicated to Artificial Intelligence in business, has has been sold to Knect365, Informa PLC’s Knowledge & Networking Division. Fusion Corporate Partners acted as corporate advisor for AI Business. The Fusion team was led by Mark Eisenstadt, Director at Fusion. The terms of the deals were not disclosed.

AI Business, is the foremost community in Artificial Intelligence for Business. The AI Summit Series and AIBusiness.Org provide exclusive content from the foremost innovators in AI; including Microsoft, Facebook, Amazon, Google, Accenture and IBM. The summit series and online portal cover all major industries where uptake of AI is significant, including; Marketing, Travel & Transport, Finance, Professional Services, Healthcare and Retail. The business was founded by Daniel Pitchford and George Kipouros, who will continue to drive the business forward.

mark-eisenstadt_f_1_120_1

Mark Eisenstadt

Fusion’s Mark Eisenstadt commented, ” ‘George & Dan have rapidly created the community forum for this dynamic and booming industry. It was a pleasure to represent such a professional and dedicated duo and their skilled and motivated workforce.  The Knect365 brand, offers enormous growth synergies within their Thought Leadership ecosystem. Fusion has recently and in the past represented for sale a number of leading edge innovation worldwide media businesses that are helping to drive the technology and telecoms sectors growth. We are pleased to be working with a number of other innovative, market leading related businesses that will come to market in the short to medium term.”

UK, London

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Zeta Global acquires Disqus

December 5, 2017 — Fusion DigiNet

Zeta GlobalThe data-driven marketing technology innovator Zeta Global has acquired the audience engagement platform Disqus. The terms of the transaction were not disclosed.

Disqus powers an open and independent web of 4 million publishers including The Atlantic, Destructoid, Spoiler TV and TMZ. Since 2007, Disqus has focused on helping independent publishers build audiences through its audience development platform by giving publishers tools to interact with readers.

Combined with Zeta’s leading marketing platform, artificial intelligence and machine learning, the acquisition makes Zeta the only company able to offer personalised real-time marketing at scale on the open web.

David A. Steinberg, Zeta Global CEO, Chairman and Co-Founder, said, “We’re redefining the marketing technology space with actionable data, artificial intelligence that answers business problems and a marketing hub that serves as the nerve centre for data-driven marketers. Disqus extends and enhances this strategy. Marketers typically have to make tradeoffs between reaching engaged audiences on social platforms with massive reach and using tools that give them control and access to granular targeting capabilities. Disqus strengthens Zeta’s ability to offer the best of both worlds with the scale, visibility and performance marketers have been asking for.”

USA, New York, NY & San Francisco, CA

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