Centaur Media plc to be restructured and to sell off some titles

June 30, 2011 — Fusion DigiNet

Centaur Media plc, the business information and events group, has announced today that the Group is being restructured into three main operating divisions: Business Publishing, Business Information and Exhibitions.

As part of the process New Media Age and Design Week will become digital only publications: The Ascent B2B portfolio is being sold to Ascent director Derek Rogers: The Logistics and Supply Chain and Recruiter portfolios are to be sold as are the two monthly engineering titles, MWP and Process Engineering.

Read the announcement here

paidContent have published CEO Geoff Wilmott’s memo to staff – here

The Group will publish a year end trading update on 14 July 2011.

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Reed Business Information acquires Ascend

June 29, 2011 — Fusion DigiNet

Fusion DigiNet has mainly reported on RBI selling businesses over the last year. For the second time in a month we are able to report on an RBI acquisition.

Reed Business Information, publisher of www.flightglobal.com, Flight International and Airline Business magazines, ACAS and Air Transport Intelligence, has acquired Ascend Worldwide Group Holdings Limited. Ascend will be integrated with RBI’s aerospace information and data services business, Flightglobal.

Ascend, headquartered in London with offices in New York, Hong Kong and Tokyo, delivers aircraft and engine data through online subscription services and provides valuations, appraisals and advisory services to a world-wide client base spanning aviation investors and financiers, lessors, manufacturers, operators and suppliers.

Terms of the deal were not disclosed. However, it is likely that the deal works very well for Ascend’s private equity backer, Lloyds Development Capital. LDC acquired its initial holding in Ascend when in 2005 it backed a £10 million MBO of Airclaims, the provider of aviation claims, risk and asset management services. In July 2006, the information and consultancy division of Airclaims was re-branded “Ascend”. In August 2007, Ascend began trading as a separate entity.

Over the past five years Ascend has undergone rapid expansion. Ascend’s revenues have risen by 20% per annum over the previous three years and the number of employees has increased by 50%. In April 2010 LDC injected new capital and increased its stake in Ascend. The new capital commitment doubled LDC’s total investment in the company to £12million. LDC still owns Airclaims.

Ascend brings to Flightglobal an impressive position in the global air finance market,” says Jane Burgess, RBI managing director. “This exciting acquisition adds important new data assets and expertise to Flightglobal’s existing aviation data business and provides Ascend with access to Flightglobal’s powerful global aviation audience and extensive marketing capabilities.”

“I am very excited about the opportunities that the combination of Ascend and Flightglobal will bring.” says Gehan Talwatte, Ascend CEO. “By combining our insight and expertise with Flightglobal’s growing global audience, distribution capabilities and unrivalled media presence, we can significantly extend the reach of the Ascend brand.”

Further reading – Alasdair Whyte’s blog

UK, London

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News Corporation pays A$45 million for Kidspot

June 29, 2011 — Fusion DigiNet

According to the Australian Financial Review, News Corporation has paid an estimated $45 million (Australian) for Kidspot, which runs websites for expectant and new parents.

Kidspot was established by Katie May and underwritten by the former lord mayor of Melbourne, Irving Rockman, who passed away last year.  John Hartigan, chief executive of News Corp’s Australian business, News Limited, said the deal would make News “the leading player in the highly valuable online parenting market.”

Australia, Melbourne

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Cengage Learning to acquire National Geographic’s digital and print school publishing unit

June 29, 2011 — Fusion DigiNet

Cengage Learning has signed a strategic partnership agreement with the National Geographic Society (NGS) including the acquisition of the NGS school publishing unit and extended use of the NGS brand.

Specifically, under the terms of the agreement, Cengage Learning will acquire National Geographic’s digital and print school publishing unit, which includes the National Geographic Science series, an innovative core elementary science curriculum, National Geographic Explorer! Magazines, and Hampton Brown’s literacy and language programs – resulting in the formation of a global literacy, English language learning and content publishing brand.

“Cengage Learning is very proud to partner with the National Geographic Society, one of the most recognized and respected organizations in the world,” said Ron Dunn, President and Chief Executive Officer of Cengage Learning.  “This expanded partnership teams Cengage Learning with the National Geographic global brand and content assets in a powerful way that further strengthens our existing English language learning business and enriches our full range of educational solutions.”

NGS assets include over 11 million images, 100,000 hours of NGS video, maps and illustrations and more than 120 years of articles from the Magazine and its other properties.  Building on Cengage Learning’s strong position in both the classroom and the library market, National Geographic’s brand and content will add tremendous value across new and existing products.

“Cengage Learning has been an extraordinary partner to date, and we are delighted to expand our relationship, making Cengage our premier partner in education.” said John Fahey, Chairman and Chief Executive Officer, National Geographic Society.

USA, Stamford, CT

 

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UK: RBI’s Variety Group to acquire TVtracker

June 29, 2011 — Fusion DigiNet

Variety Group, a division of Reed Business Information US,  has signed off a deal to buy online information provider, TVtracker. Terms of the deal have not been disclosed.

TVtracker is a premium entertainment research and data tracking service covering TV, film and the digital entertainment business for more than 250 leading brands in entertainment and media.

Variety Group president Neil Stiles said: “This is a major step forward for the organisation’s expansion, with research and data services a centrepiece of Variety’s online strategy.”

Neil added: “Variety aims to provide business information that is integrated into the desktop of industry executives.”

TVTracker’s founder Mark Hoebich will continue to oversee the operation, reporting into Neil.

Variety digital general manager Jennifer Collins said: “We anticipate being the market leader for not just TV, but also film data and information in the next year.”

USA, Los Angeles, CA

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bNET Communications acquires GoMo News

June 29, 2011 — Fusion DigiNet
bNET Communications has acquired the mobile-industry online blog site, GoMo News. Terms of the deal were not disclosed.

“The acquisition of GoMo News brings together two well-known, respected brands in mobile to create a content powerhouse,” said Tony Sklar, COO and Host of bNET Communications. “Strategically growing the bNET brand required a daily mechanism to deliver content, which we have with GoMo News, and our goal now will be maximizing the value of both brands.”

GoMo News was founded in 2006 to provide news and analysis on the mobile industry, with an emphasis on mobile search and social networking, mobile advertising, and mobile barcodes. It has more than one million readers, a daily newsletter, and a mobile application.

USA, New York, NY

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EMAP’s annual report for year ended 31 December 2010 – Highlights

June 28, 2011 — Fusion DigiNet

EMAP International Limited, the media business jointly owned by funds managed by Apax Partners Europe Managers Ltd and Guardian Media Group plc, has published its annual report to year ending 31st December. During the prior period the Group changed its year-end from the 31 March to 31 December. Wherever possible this Fusion DigiNet article compares the 12 month performances of years ending March 2009 and March 2010.

Highlights

  • Operating profit before amortisation of intangible assets and exceptional items was £81m, (9 month period ended 31 December 2009: £58m)
  • Sales were £244m (9 month period ended 31 December 2009: £164m).

The group saw revenue and profit grow in its two largest divisions: online intelligence and exhibitions and festivals. It also saw strong growth in its smaller Middle East unit.

However, these gains were offset by reductions elsewhere relating to spending in the UK public sector, especially in health and local government. This impacted trading in the Group’s publishing division which saw a marked year on year reduction in spending in public sector recruitment advertising and in its conference unit which saw lower delegate attendees to its one day event programmes serving public sector interests.

The year on year revenue reduction from these two public sector related sources amounted to £10m. Growth in the rest of the business brought the Group’s total revenue back within 1% of the prior year total.

 Acquisition Activity

The Group made three acquisitions during the year. In September 2010 100% of the share capital of Best Energy Event Ltd and related magazines was acquired for £2.6m. The company runs the Energy Event and Water, Energy & Environment, a magazine in the same sector. In November 2010 the Group acquired the remaining stake in Broadcast Video Expo for £1.8 million, bringing ownership up to 100%. In December 2010 the Futuresource Event was acquired for £2.1m. Futuresource operates in the same sector as Recycling and Waste Management and the two exhibitions will be combined.

Emap sold its investment in its Professional Beauty assets to a new joint venture in which it retains a beneficial holding. A loss of £17m was realised on the disposal, however, Emap has retained the brand which is licensed to the new joint venture.

Cash flow and debt

The Group remains highly cash generative, generating £53m, (9 month period ended 31 December 2009: £45m) net cash inflow before financing activities. Cash generation accelerated in 2010, leading to a higher level of operating cash flows of £78m (9 month period ended 31 December 2009: £41m).

Performance of the five divisions

  • EMAP Inform – generated revenues of £53m (year ended 31 December 2009: £60m)
  • EMAP Data and Insight – generated revenues of £80m (year ended 31 December 2009: £78m)
  • EMAP Connect – generated revenues of £78m (year ended 31 December 2009: £77m)
  • EMAP Networks – generated revenues of £14m (year to 31 December 2009: £17m)
  • EMAP Middle East – generated revenues of £19m (year ended 31 December 2009: £17m)

Read the full report here.

UK, London

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Intent Media acquires UBM titles for £2.4m

June 27, 2011 — Fusion DigiNet

Independent business media specialist Intent Media is to acquire the UK entertainment and technology product portfolio of UBM plc for a total cash consideration of £2.4m.

Intent specialises in entertainment, technology and leisure markets. Its portfolio already consists of over a dozen market leading online, print and event brands across video games, music, computing, mobile, toys, licensing and cycling.

The titles being acquired include Television Broadcast Europe, Music Week, Pro Sound News Europe and Installation Europe, plus additional websites, newsletters, conferences, show dailies and awards events. Last year this portfolio generated £5.4m of revenue.

Intent Media is headquartered in Hertford, England but is opening an additional office in Islington Green, London, this summer. Up to 36 staff will transfer on completion of the deal and total staff count will rise to around 90, with projected combined revenues of over £10 million for the financial year ending September 30th 2012.

“This is a significant move for Intent, essentially doubling the size of the company. We are heading into markets that fit our current landscape, whilst also continuing our policy of holding a leadership position wherever we operate. The brands we are taking over are well established, with experienced staff and impressive heritage,” said Intent Media managing director Stuart Dinsey.

“Intent has become the UK’s leading business media player in entertainment and technology. We are very excited to have added these new brands. Our policy of investment in online and events will continue, whilst ensuring longevity where possible for the core print titles.”

UBM is selling the portfolio on behalf of its UBM Connect division. The transaction is expected to complete in the next six weeks, subject to the conclusion of a TUPE consultation process.

“I am pleased we will pass stewardship of these well-established entertainment and technology titles to Intent Media, which focuses on serving specialist entertainment, technology and leisure markets,” said UBM Connect CEO Adrian Barrick.

Existing core Intent Media brands include MCV: The Market for Computer & Video Games, Develop, ToyNews, Mobile Entertainment, Bikebiz, PCR, Musical Instrument Professional, Audio Professional International and Licensing.biz.

Events run by Intent include The London Games Conference, MI Retail Conference & Expo, Monetising Mobile Conference and sundry trade awards.

Intent Media’s previous acquisitions:

  • MCV launched in September 1998 (when we were MCV Media Limited)
  • Develop acquired November 2000
  • ToyNews acquired June 2001
  • Management buy-out from German listed outfit Computec (and became Intent Media) March 2002
  • CTW acquired (from Highbury) and incorporated into MCV March 2002
  • CTO acquired (from Trinity Mirror) and incorporated into PCR 2006
  • BikeBiz acquired in February 2006
  • MI Pro acquired in March 2006
  • Audio Pro International acquired in March 2006
  • Music Trade News accquired (and incorporated into MI Pro) July 2008
  • All assets of Skep Media acquired January 2009
  • All assets of Prestige Media acquired January 2009

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The Economist Group achieves record profits

June 23, 2011 — Fusion DigiNet

The Economist Group – Year end results for year-ending March 2011

  • Revenue grew by 9% to £347m
  • Advertising overall increased by 15%, with print advertising up 14% and digital advertising up 23%.
  • Operating margin improved to 18.2%. The year benefited from an additional four months of the CQ acquisition and was also helped by a stronger dollar.
  • Operating profit for the Group increased by 10% over last year to £63.3m.
  • Costs increased by 8% overall, but were also affected by acquisitions and disposals and the stronger dollar.
  • Underlying costs increased by 6%, partly driven by growth but mainly because of additional investments including marketing activity for The Economist, the development of digital editions and other initiatives.
  • Profit before tax at £59.5m was 19% higher than last year.
  • Interest costs increased by £1.0m, reflecting the full-year impact of borrowings taken out to finance the CQ acquisition, offset by the benefits of repaying other bank debt taken out to refinance earlier acquisitions.
  • Profit after tax increased by 16% to £44.2m.
  • Normalised earnings per share were 176.5p, an increase of 8% year on year.

The Board is recommending a final dividend of 78.5p, making the full-year dividend 112.6p. This is a 10% increase on the previous year, excluding the special dividend of 39.7p per share paid to shareholders in December.

According to Rupert Pennant-Rea, Chairman of the Economist Group, “This good result came mainly from three areas: an advertising recovery at The Economist; a full year’s ownership of CQ, the business we bought in August 2009; and tight control of overheads.”

The full annual report is available here.

UK, London

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TechMediaNetwork acquires mobile technology magazine and website LAPTOP

June 23, 2011 — Fusion DigiNet

TechMediaNetwork, a digital publisher and content provider of consumer technology and science news, is to purchase the assets of LAPTOP and LaptopMag.com, the mobile technology magazine and website, in a private sale. The deal is expected to close in July. LAPTOP’s management team and editorial staff will become part of TechMediaNetwork, and join it at its relocated offices in New York City.

“Mobile is the hottest area in technology, and with LAPTOP’s focus on mobility and quality content, we get to show off our strengths in distribution and advertiser ROI, making this union a perfect fit,” said Jerry Ropelato, CEO of TechMediaNetwork. “We are excited about the synergies of our businesses and the opportunities for growth.”

In October 2009, TechMediaNetwork purchased the consumer division of Imaginova that includes SPACE.com, LiveScience.com and Newsarama.com, and began executing a strategy of quality technology and science titles.

USA, New York, NY

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