Pearson to buy Melario for £99.3 million

May 20, 2010 — Fusion DigiNet

Pearson (PSON.L on London Stock Exchange) has agreed to buy Melorio (AIM: MLO) for 99.3 million pounds ($142 million) in cash. That is 225 pence per share and a 31% premium over the trading price on 17th May. Pearson says it has undertakings to accept the offer from 49.9% of the shareholders.

Melario is a support services group providing training and assessment services to the information technology, construction, logistics and healthcare sectors.

Yesterday Melorio announced that Revenue is up 86% to £58.4m (2009: £31.4m) and is up 65% to £16.5m (2009: £10.0m)

Link: Melorio PLC – Prelimnary Results – May 19, 2010

Pearson said on Wednesday the acquisition was a response to growing global demand for vocational training, with developed economies looking to maintain their competitive position and developing countries seeking to boost skills.

Melario said “Pearson is an international education and information company with world-leading businesses in education, business information and consumer publishing.  Pearson believes that the acquisition of Melorio will support its vocational education strategy by combining Melorio’s training delivery skills with Pearson’s complementary strengths in educational publishing, technology and assessments.   The Melorio board believes that shareholders should have the opportunity to consider the offer and have therefore agreed unanimously to recommend the offer.”

Melorio are being advised by Cenkos. Pearson is being advised by Lazard.

Pearson shares have fallen -19.50p (-2.03%) as at 1730pm today.
 
Link: Schroders PLC Melorio PLC – Form 8.3

Location: UK, London

Ref: F231109-449

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Yell buys Trusted places

May 20, 2010 — Fusion DigiNet

Yell has acquired Trusted Places Limited, the company behind the popular UK local reviews website trustedplaces.com.

The purchase means that Yell will, for the first time, enable consumers to recommend a local business through its Yell.com website.

The combination of Yell’s database of over two million businesses with TrustedPlaces’ proven expertise in generating recommendations from local consumers represents a major shake-up of the fast-growing local reviews market.

It will drive strong benefit to Yell’s 399,000 mainly small business advertisers, through generating additional leads and providing a richer online interaction with existing and potential new consumers.

Mark Canon, president of new media at Yell in the UK, said: “This represents a significant growth opportunity. We all know that recommendations help local businesses to attract new consumers, so Yell.com and TrustedPlaces are a perfect fit.”

Initially, TrustedPlaces reviews will be added to Yell’s business listings, leading to full integration under the Yell.com domain.

The company also expects that the techniques and technologies that have made TrustedPlaces successful in the UK will be shared with other Yell Group operating companies in the US, Spain and Latin America.

Under the deal, Sokratis Papafloratos, chief executive and co-founder of TrustedPlaces, is joining Yell as head of social products in the UK.

He said: “The internet gives customers more influence in the reputation of a local business than ever before.

“This exciting partnership gives businesses the opportunity to harness the power of recommendations like never before.”

TrustedPlaces was launched in late 2006. The private equity backed startup now attracts around 700,000 unique users a month looking for recommendations on local businesses across a range of key categories. These cover, for example, Restaurants, Bars and Pubs, Hotels and Travel, Beauty and Spas, Shopping and Home Maintenance and Repairs, which includes services such as plumbers.

Location: UK, London

Ref: F231109-448

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Zuckerman to bid for Newsweek

May 19, 2010 — Fusion DigiNet

According to Keith Kelly at the NY Post, Mort Zuckerman may be making a bid for Newsweek. If correct, he will be competing with Politico, Thomson Reuters, Steve Rattner, and Haim Saban all who have also been reported as preparing bids to buy Newsweek from the Washington Post Company. Bids are due to Allen & Company, which will oversee the auction, by June 4.

Zuckerman has been the publisher/owner of the New York Daily News since 1993 and has been  Editor-in-Chief of U.S. News & World Report since 2007. He converted US News to a monthly from a weekly, and made large scale staff cuts. Keith Kelly reports that sources said Zuckerman believes he could extract major savings from Newsweek if he combined it with the mag (US News) he already owns.

After a loss of $28 million last year, News week has lost $2.3 million in the first quarter, with revenue falling 36 percent to $29.4 million.

Ref: F231109-446

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Axel Springer gets rid of its wallstreet:online sites

May 18, 2010 — Fusion DigiNet

Axel Springer Financial Media, a subsidiary of Axel Springer AG, has sold its 75% interests in wallstreet:online AG and wallstreet:online capital AG, as well as its 33.3% interest in  ZertifikateJournal AG.

The founder and former CEO of wallstreet:online, André Kolbinger, is acquiring Axel Springer’s 75.01 percent interest in the financial community wallstreet:online. Management Board member René Krüger and senior officer Ewald Brunen are acquiring Axel Springer’s 75.1 percent interest in the investment fund broker wallstreet:online capital as part of a management buy-out. The two former Management Board members and founders Christian W. Röhl and Werner H. Heussinger are to purchase Axel Springer’s 33.3 percent investment in ZertifikateJournal, a service provider for certificates and structured financial products.

Axel Springer says it will focus its online business media activities on the high-reach financial portal finanzen.net.

Location: Germany, Berlin

Ref: F231109-437

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Mens invite only shopping community Jack Threads has been bought by a publisher, Thrillist.

May 13, 2010 — Fusion DigiNet

Mens invite only shopping community Jack Threads has been bought by a publisher, Thrillist.

Thrillist publish seperate free daily emails Austin, Atlanta, Boston, Chicago, Dallas Los Angeles, Miami, New York, Philadelphia, San Francisco, Seattle, Washington, DC and London. They cover food, drinks, gear, services, entertainment, travel options, and events, like booze cruises. Jack Threads, a social shopping service for men selling apparel, shoes, and accessories.

The terms of the deal were not disclosed.

Location: USA, Los Angeles, CA

Ref: F231109-431

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Is Playboy about to start making acquisitions?

May 4, 2010 — Fusion DigiNet

Playboy Enterprises is hiring Paul H. Lee as the new managing director of new digital ventures.  The company says that Lee will be responsible for launching, acquiring, partnering with, and investing in new digital business opportunities.

There has been plenty of speculation about Playboy Enterprises being sold over the last year. Is this a sign that Playboy may now be thinking about acquiring?

Lee joins PEI from the Peacock Equity Fund, a joint venture between NBC Universal and GE Capital, where he currently serves as senior vice president. He will assume his new duties on May 17, 2010.

Location: USA, Chicago, IL
Sectors: Publishing
Ref: F231109-415

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Internet Brands acquires DoDTracker.com and PursePage.com

April 28, 2010 — Fusion DigiNet

Internet Brands has acquired two websites in its Shopping vertical. DoDTracker.com (“”Deal of the Day”” Tracker) aggregates “one-a-day” deals from major retailers, while PursePage.com provides reviews of designer handbags and lists designer sales events.

“We continue to see ery strong growth in the social shopping arena,” said Bob Brisco, CEO of Internet Brands. “There is a very active convergence of consumer interest, advertising migration, and innovation of social shopping tools in which we are participating.”

Location: USA, Los Angeles, CA
Sector: Internet, Publishing, eRetail
Related article: Internet Brands acquires online professional directory network ExpertHub Posted on 28, 2010
Ref: F231109-404

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Internet Brands acquires online professional directory network ExpertHub

April 28, 2010 — Fusion DigiNet

Internet Brands has acquired ExpertHub, a network of websites that connects consumers with atorneys and other professionals. The network joins the company’s rapidly growing Money and Business vertical.

The ExpertHub network of websites helps consumers find the right match by providing targeted content and listings of qualified local professionals. It is described as an efficient way for professionals to attract clients.

“SMB Internet advertising is growing very rapidly, especially amongst professionals,” said Bob Brisco, CEO of Internet Brands. “ExpertHub features targeted articles written by the experts that are attracting highly qualified audiences the professionals are seeking.”

The ExpertHub network includes dozens of websites that are leaders in their specific niches, such as www.CriminalDefenseLawyer.com, www.BankruptcyLawFirms.com, and www.LawFirms.com.

“ExpertHub has developed a leading platform for the professional services market, and the platform is compatible and complementary with Internet Brands’ strategy and technology infrastructure,”” said Steve Lombardi, President of ExpertHub. “Our team is looking forward to working with Internet Brands to further build out the ExpertHub network.”

Internet Brands owns and operates more than 100 websites including www.ApartmentRatings.com, www.CarsDirect.com, www.CruiseReviews.com, www.DavesGarden.com, www.DoItYourself.com, www.FitDay.com, www.FlyerTalk.com, www.HealthNews.org, www.Loan.com, www.Wikitravel.org, and many more. In total, these sites attract approximately 58 million unique visitors per month.

Location: USA, Los Angeles, CA
Sector: Internet, Publishing
Related article: Internet Brands acquires DoDTracker.com and PursePage.com Posted on April 28, 2010
Ref: F231109-403

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Iconix Brand Group acquires “Peanuts”

April 27, 2010 — Fusion DigiNet

Iconix Brand Group has signed a definitive agreement with United Features Syndicate and The E.W. Scripps Company to acquire the Peanuts brand and related assets in partnership with the Schulz family. As part of the transaction, Iconix will also acquire the licensing and character representation business of United Media Licensing, a division of UFS, which, in addition to Peanuts, represents a number of character brands, including Dilbert and Fancy Nancy.  The Peanuts brand and other acquired assets will be purchased through a newly formed subsidiary, which will be owned 80% by Iconix and 20% by the Schulz family.

The cast of Peanuts, includes, among others, iconic and well known characters such as Charlie Brown, Snoopy, Lucy, Linus, Sally, Schroeder, Peppermint Patty and Woodstock. Peanuts has a strong diversified global licensing platform with over 1,200 licensing agreements including relationships with MetLife, Hallmark, Universal Studios, Warner Bros., Cedar Fair, H&M, Benetton, Old Navy, CVS and Walgreens. The Peanuts brand is licensed in over 40 countries and generates annual retail sales of over $2 billion.

The total purchase price for this acquisition is approximately $175 million of which Iconix will pay for its 80% share and the Schulz family will pay for its 20% share. Iconix portion will be funded from the Company’s existing cash balance.  

On a pro-forma basis the Company expects Peanuts to generate approximately $75 million in annual royalty revenue and add approximately $0.12-$0.15 in annual EPS. Different from a typical Iconix acquisition, the costs associated with the Peanuts business will be higher than the Company’s existing brands as there is an existing contractual revenue share with the Schulz heirs, which is separate from the family’s 20% interest in the new partnership. There are also agent commissions and additional administrative costs associated with managing over 1,200 contracts around the world.  Initially, EBITDA margins for this business are expected to be in a range of approximately 20%-25%.  In 2010, the accretion will be impacted by deal costs and will depend on the timing of the close.

Location: USA, New York, NY
Sector: Publishing
Ref: F231109-400

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Mail.com acquires Boy Genius Report

April 27, 2010 — Fusion DigiNet

Mail.com Media Corporation (MMC), the digital media company that owns and operates the Mail.com portal and email service as well as lifestyle brands including, Deadline.com, HollywoodLife.com, Movieline.com and OnCars.com, announced today its acquisition of BGR, or Boy Genius Report as it was formally known. At around one million user, BGR is one of the most visited mobile/gadget blogs in the world.

Launched in October 2006, BGR.com has grown quickly to become one of the top three sites in the mobile category. Demonstrating its appeal to a broad audience that extends beyond mobile, Technorati also lists BGR.com as one of the Top 50 most influential content destinations in the world, across all categories.

BGR was founded by Jonathan Geller who started off writing for Engadget as an anonymous blogger

Commenting on the move to MMC, Geller said “I’m excited to be able to partner with Jay Penske and MMC on the BGR property. I look forward to continuing to grow BGR globally with the support of MMC’s talented team and extended network. Our new platform will allow us to deliver the same high quality exclusive breaking news that we’re known for, but to an even larger audience. I’m also excited to have the opportunity to expand BGR beyond just the mobile category to reach a new core of ferociously dedicated readers”.

“We’re thrilled to announce our acquisition of BGR, and partnership with Jonathan. Very much in the mold of Nikki Finke of Deadline.com, Jonathan has singlehandedly built an influential site with original content that appeals to an extremely engaged and loyal following in one of the largest and most exciting categories online–and he’s done it all before his 23rd birthday” said Jay Penske, the founder, Chairman and CEO of MMC. “I believe MMC is a perfect fit for Geller and BGR.com–because we provide the most original and conversational content on the web, and have the skill-set, infrastructure and reach to accelerate the scale of the BGR brand”.

Link: Read Geller’s comments about the deal on the BGR blog
Location: USA, Los Angeles, CA
Sector: Internet, Publishing
Ref: F231109-399

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