MakeItBetter.net buys NorthShore Magazine from Sun-Times Media

April 26, 2010 — Fusion DigiNet

Fast growing MakeItBetter.net became metropolitan Chicago’s largest information and community networking source catering to suburban women Friday with the purchase of NorthShore Magazine’s assets, a 32-year-old publishing mainstay.

The purchase from Sun-Times Media Group comes six months after MakeItBetter.net launched a magazine companion to its 3-year-old popular Internet site. The website had over 35,000 unique readers in the first three months of 2010. The magazine—before this acquisition—was sent to more than 52,000 selected homes every month.

Deal Terms: Undisclosed
 
Acquirer:  MakeItBetter.net
ACQ Web:  http://MakeItBetter.net
Location:  USA, Wilmette, IL
Region:  North America
Description:  Online resource and magazine for Chicago’s North Shore.
Category:  News
Contact:  founder Susan B. Noyes
 
Vendor:  Sun-Times Media Group
Vendor Web:  http://suntimesnewsgroup.com
Business Sold: NorthShore Magazine
Web Link: http://www.northshoremag.com/cgi-bin/ns-article
Description:  On March 31, 2009, Sun-Times Media Group, Inc. filed a voluntary petition to reorganize under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. The Company and its principal operating subsidiary, the Sun-Times News Group, continues to operate its newspapers and online sites as usual while it focuses on further improving its cost structure and stabilizing operations. Sun-Times Media Group has retained Rothschild Inc. to commence a process for the sale of assets pursuant to Section 363 of the U.S. Bankruptcy Code.
Category: News
 
FDN Reference:  F231109-398

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FUND RAISING ROUND-UP

April 26, 2010 — Fusion DigiNet

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1.       Chinese online classifieds site 58.com has raised $15 million

Chinese online classifieds site 58.com has raised $15 million in its second-round funding according to news service Sina. The funds come mainly from Doll Capital Management (DCM) and SAIF Partners. CEO Yao Jinbo said that 58.com has retained control over the company, and that the funds raised will be mainly used towards expansion in second- and third-tier cities nationwide.

2.       Daily Grommet raises $3.4 million

Daily Grommet the curated online marketplace and video review site, has closed its Series A financing at $3.4 million. Investors participating in the round include Jean Hammond (investor and member of Hub Angels and Launchpad Venture Group), John Landry (angel investor at Lead Dog Ventures), Nancy Peretsman, and Jill Preotle (co-founder of the Boston Golden Seeds forum and private equity investor). The round also includes existing investors Launch Capital and Gerry Laybourne, founder of Nickelodeon and Oxygen Media.

  • Contact: Jules Pieri, CEO and founder of DailyGrommet.com
  • Location: USA, Lexington, MA

3.       News Corp. invests in Beyond Oblivion

News Corp. has made an investment in music start-up Beyond Oblivion as part of a $10 million series B funding round. The story was first reported on cnet. Allen & Co., a boutique bank that focuses onmedia, new media, communications & technology also took part. They are listed on the Beyond Oblivion website as their financial advisers.

  • Location: USA, New York, NY

Other News Corp. articles

4.       Networked Insights raises $5 million

Networked Insights, the social media analytics company, has closed $5 million in Series A funding. The round was led by Kegonsa Capital Partners. The company will use the funds to continue to expand the powerful capabilities of its SocialSense social media listening platform, launch new product offerings based on the SocialSense architecture and accelerate the growth of its sales and marketing programs.

  • Contact: Dan Neely, founder and CEO of Networked Insights
  • Location: USA, Madison, WI

5.       OpenSky raises $6M Series B Financing

OpenSky has closed a $6 million Series B financing led by Highland Capital Partners and Canaan Partners. This investment brings the total raised to $11 million by the year old New York startup that is re-imaging retail in today’s distributed media environment. The new investment will allow OpenSky to continue to move aggressively to scale its proprietary relationship commerce platform. OpenSky enables consumers to conveniently purchase goods directly from the people they follow and trust. OpenSky further supports these relationships by providing the consumer with a 365-day return guarantee and the ability to provide ongoing feedback to all parties.

  • Contact: John Caplan, Founder and CEO of OpenSky
  • Location: USA, New York, NY

6.       TheWrap Secures $2 Million in Series B Funding

TheWrap.com, the news organization covering the business of entertainment and media, has raised a $2 million B round capital investment from parties including Maveron, a venture capital firm co-founded by Starbucks CEO, Howard Schultz, and a majority of the Company’s A round investors.. The B round investment will be used to accelerate the continued expansion of TheWrap.com and to provide flexibility to take advantage of new market opportunities. This latest investment follows TheWrap.com’s Series A funding in January 2009 from Maveron and a group of private investors.

  • Contacts: Sharon Waxman, TheWrap.com,Founder and Editor-in-Chief: Ben Choi, Maveron Principal and TheWrap.com board member
  • Location: USA, Los Angeles, CA

7.       Tumblr raises another $5 million

Spark Capital and Union Square Ventures have invested $5 million into micro blogging site Tumblr. Spark and Union Square were also the only investors in Tumblr’s B round in 2008. Tumblr has now raised $10.2 million. The story was first reported on Media Memo.

  • Contacts: Founder David Karp
  • Location:  USA, New York, NY

8.       UK investment website Stockopedia raises $700K

UK investment website Stockopedia has secured over $700,000 in Seed Funding from a consortium of private City individuals. The site reaches close to 50,000 investors monthly and around 8,000 followers across all its Twitter feeds.

  • Contacts:  Dave Brickell and Edward Croft – Stockopedia Founders

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News Corp. acquires games developer Irata Labs

April 23, 2010 — Fusion DigiNet

According to the LA Times, News Corp. has acquired Irata Labs.

Irata Labs describe themselves as “a small (3 people) group of friendly folks who build social software.”  Their products are Spymaster, iList and Flyvly.

Irata Labs had previously received funding from Dmitry Shapiro was one of the angel investeors in the company and served as Chairman of the Board of Directors.  Other investors included  Alex Bard and Gary Benitt of Assistly, and Draper Fisher Jurvetson.

Deal Terms: Undisclosed
 
Acquirer:  News Corporation
ACQ Web:  http://www.newscorp.com
Location:  USA, New York, NY
Region:  North America
Description:  News Corporation is a publicly-traded company listed on the NASDAQ, with secondary listings on the Australian Securities Exchange. News Corporation had total assets as of December 31, 2009 of approximately US$56 billion and total annual revenues of approximately US$30 billion. News Corporationis a diversified global media company with operations in eight industry segments: filmed entertainment; television; cable network programming; direct broadcast satellite television; integrated marketing services; newspapers and information services; book publishing; and other. The activities of News Corporationare conducted principally in the United States, Continental Europe, the United Kingdom, Australia, Asia and Latin America.
Category:  Media Owner
Contact 1:  Jon Mille, chief digital officer
Contact 2:  Rupert Murdoch (Chairman & CEO)
Contact 3:  Chase Carey (COO)
Contact 4: David DeVoe (CFO)
Contact 5:  Lawrence Jacobs (Senior Executive & VP)
Contact 5: James Murdoch (CEO in Europe & Asia)

Vendor:  Irata Labs
Vendor Web:  http://iratalabs.com
Other Web Links: Twitter http://twitter.com/iratalabs 
Location:  USA
Region:  North America
Description:  “Irata Labs own description, “”We’re a small group of friendly folks who build social software. We’re currently working on a mobile, location-aware platform for social gaming.”
Category: Online Games
Contact 1:  Chris Abad, CEO Twitter
Contact 2:  Ben Myles, Lead Software Architect Twitter
Contact 3:  D. Keith Robinson, Creative Director Twitter 

Related Fusion DigiNet articles:

FDN Reference:  F231109-395
 
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The First American Corporation acquires Experian’s interest in FARES

April 23, 2010 — Fusion DigiNet

The First American Corporation has exercised its option to purchase Experian Information Solutions, Inc.’s 20 percent ownership in the First American Real Estate Solutions, LLC (FARES) joint venture.

“Experian has been a valued partner in the FARES joint venture and we look forward to furthering our working relationship with them in the coming years,” said Parker S. Kennedy, chairman and chief executive officer of The First American Corporation.  “Our exercising of the purchase option, combined with our previously announced transactions for the noncontrolling interests in First Advantage Corporation and First American CoreLogic, provide us with control over substantially all of our assets as well as provide the Information Solutions Group with increased financial and operational flexibility as it prepares to be a stand-alone public company.”

Deal Terms: Under the terms of the option, the exercise price for Experian’s ownership interest is $313.8 million and the transaction will close on Dec. 31, 2010. With the exercise of the purchase option, First American substantially eliminates Experian’s veto rights under the joint venture agreement and significantly enhances the company’s operational and organizational flexibility.
 
Acquirer:  The First American Corporation (NYSE: FAF)
ACQ Web:  http://www.firstam.com
Location:  USA, Santa Ana, CA
Region:  North America
Description:  A FORTUNE 500® company that traces its history to 1889. With total revenues of approximately $6.0 billion in 2009, it is America’s largest provider of business information. The  company operates within five primary business segments, Title Insurance and Services, Specialty Insurance, Information and Outsourcing Solutions, Data and Analytic Solutions, and Risk Mitigation and Business Solutions.
Category:  Property. Market Data
Contact 1:  Parker S. Kennedy, Chairman and Chief Executive Officer bio
Contact 2:  Anthony “Buddy” Piszel, Chief Financial Officer and Treasurer bio
 
Vendor:  Experian (LON:EXPN)
Vendor Web:  http://www.experianplc.com
Location:  UK, Nottingham
Region:  Europe
Description:  Global information services company, providing data and analytical tools to clients in more than 65 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.
Category: Finance, Market data
Contact 1:  John Peace, Chairman bio
Contact 2:  Don Robert, Chief Executive Officer bio
Contact 3:  Paul Brooks, Chief Financial Officer bio
Contact 4:  ChrisCallero, President and Chief Operating Officer bio

Related Fusion DigiNet article: The First American Corporation acquires the noncontrolling ownership of First American CoreLogic Posted on March 31, 2010

FDN Reference:  F231109-394

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Eco-friendly reviews website Ecoscene has been acquired by Viewpoints Network

April 22, 2010 — Fusion DigiNet

Viewpoints Network, a provider of online product reviews and technology that helps retailers run online communities, has acquired Ecosceneinc.com, the two-year old consumer reviews website focused on green products.  It is Viewpoints first acquisition.

“We are excited to welcome Ecoscene readers and fans to the Viewpoints community,” said Matt Moog, President & CEO of Viewpoints Network. “There is a huge demand for eco-friendly products as consumers become more environmentally conscious. Those consumers who are already following the category are very active and outspoken individuals – just the type of consumers we want coming to Viewpoints.com to share their product feedback and help other consumers make smarter purchase decisions.”

Each of the existing Ecoscene reviews has been moved over to the Viewpoints.com platform and is available on http://www.viewpoints.com/aboutme/Ecoscene.

Ecosceneinc’s founder, Aimee Heilbrunn has joined Viewpoints as director of marketing. She comments on the acquistion at the Ecosceneinc.com website

Aprox. Value:  Undisclosed
 
Acquirer:  Viewpoints Network
ACQ Web:  http://www.viewpoints.com
Location:  USA, Greater Chicago Area, IL
Region:  North America
Description:  Viewpoints Network is a social technology and media company that helps leading retailers and brands positively impact the Triple Bottom Line of Social Commerce – incremental sales, actionable consumer insights and increased brand advocacy. The company operates two businesses: The Viewpoints Technology Platform, a hosted technology service for Social Commerce, and Viewpoints.com a leading user reviews and advice website.
Category:  Reviews, Commerce
Contact:  Matt Moog , Founder & CEO Linkedin
 
Vendor:  Ecoscene Inc
Vendor Web:  http://www.ecosceneinc.com 
Location:  USA, Chicago, IL
Region:  North America
Description:  Ecoscene takes a closer look at living green and provides readers unbiased, authentic, consumer experienced information on green products through a variety of mediums including weeekly e-mails, Searchable website database, Daily coverage on our blog, Social media sites including facebook, twitter, flickr, and youtube.
Category: Reviews
Contact:  Aimee Heilbrunn, founder    

FDN Database Reference:  F231109-393

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EPPG acquires Reed Business Information GmbH

April 20, 2010 — Fusion DigiNet

Another RBI deal.

The specialty publishing group European Professional Publishing Group (EPPG) is acquiring the German specialty publisher Reed Business Information GmbH.

Both of the current managing directors, Hans-Jürgen Kuntze and André Weijde remain with the company. “Reed Business Information GmbH is a successful and well managed firm. We look forward to leading a growth-oriented strategy together with our new owner EPPG”, said Hans-Jürgen Kuntze, Managing Director of Reed Business Information GmbH.

Management Capital Holding, owner of EPPG, list the followings as the investment concept:

  • Expansion and international roll-out of the online portals 
  • Introduction of new online applications for architects and construction engineers 
  • Further strengthening of leading market positions in the segments architecture, recycling and digital production
  • Strengthening of event and seminar business

The closing of the transaction is subject to the approval of the German Federal Cartel Authority (Bundeskartellamt).

Aprox. Value:  Undisclosed

Recent RBI deals reported on Fusion DigiNet

 
Acquirer:  European Professional Publishing Group
ACQ Web:  http://www.eppg.de
Location:  Germany, Munich
Region:  Europe
Description:  The European Professional Publishing Group (EPPG) is a publishing group for medium-size publishers in the field of specialty information and specialty interests. Group companies grow and develop organically as well as through additional investment and acquisitions. European Professional Publishing Group is owned by Management Capital Holding.
Category:  Media Group
Contact:  Ferdinand Freiherr von Wrede, Managing Director  
 
Vendor:  Reed Business Information GmbH
Vendor Web:  http://www.reedbusiness.de 
Location:  Germany, Munich
Region:  Europe
Description:  Reed Business Information is the international business-to-business division of Reed Elsevier. The portfolio encompasses over 400 titles, newsletters, directories, reference works and online services in over 48 market segments and in five continents. Activities in Germany are concentrated in the three areas of architecture, technology and eBusiness. Reed Business Information currently publishes the specialty journals DETAIL, RECYCLING MAGAZIN and DIGITAL PRODUCTION. Since 2007 Reed Business Information has offered the online business-to-business portal LINX as well as the company portal www.Youbizz.de.
Category: Media Group, B2B
Contact 1:  Hans-Jürgen Kuntze, Managing Director
Contact 2:  André Weijde, Managing Director
 
Links: 

FDN Database Reference:  F231109-390

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Media monitoring business Durrants acquires Gorkana for £25 million

April 15, 2010 — Fusion DigiNet

Durrants, the  provider of media monitoring and analysis services has signed an agreement to acquire Gorkana, the provider of media intelligence and industry news to the PR industry and journalist community.

Alex Northcott, Gorkana Chief Executive, said: “This is an exciting leap forward for Gorkana and will provide scope to accelerate our growth internationally and in terms of the products we can offer. The synergies created by this deal will dramatically increase the level of journalist intelligence and insight we can provide to our core markets.”

Gorkana‘s founders Alex Northcott and Michael Webster will remain with the business and retain a small stake in the company.

August Equity sold Durrants, to rival firm Exponent Private Equity for the £82m sale of. August Equity backed Durrants‘ in a £14m management buy-in at the company in 2000.

In October 2009, Durrants acquired global media analysis and evaluation company Metrica. This latest acquisition will create a combined business with a turnover of more than £40M.”

Aprox. Value:  Just under £25,000,000
 
Acquirer:  Durrants
ACQ Web:  http://www.durrants.co.uk 
Location:  UK, London
Region:  Europe
Description:  William Durrant and Henry Romeike founded The Press Cuttings Agency, the forerunner of Durrants, in 1880.Today Durrants offers monitoring and evaluation services to organisations which need to follow the coverage of their organisation in the media. The company monitors over 6,000 print, broadcast and online sources to provide relevant briefs to over 2,300 clients on a daily basis.
Category:  Media Monitoring
Contact 1:  John Moore, Chairman
Contact 2:  Jeremy Thompson, Managing Director
Contact 3:  Kerry Jenkins, Finance Director 
 
Vendor:  Gorkana
Vendor Web:  http://www.gorkana.com
Location:  UK, London
Region:  Europe
Description:  Gorkana is a provider of media intelligence and industry news to the PR/communications industry and journalist community. It was set up by two ex-PRs, Alex Northcott and Michael Webster, “who were frustrated by the lack of a quality service in the market to support them in targeting and building up positive and mutually beneficial working relationships with the media.” The company was named after Sergeant Gorkana, the man who saved the life of founder Alex Northcott when he became entangled in a swamp with a 120lb rucksack and a rifle on his back while in the Royal Gurkha Rifles.
Category: Media Monitoring, PR
Contact 1:  Alexander Northcott, CEO / Founder
Contact 2:  Michael Webster,  Director / Founder  

Links: 

FDN Database Reference:  F231109-387

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Greycroft Partners closes its second fund to invest in digital media businesses

April 14, 2010 — Fusion DigiNet

NEWS

Greycroft Partners LLC, an early stage venture capital fund based in New York and Los Angeles announced today the completion of $130.7 million in fundraising for its second fund, Greycroft II. Greycroft II will continue to focus on businesses in the digital media space, broadly defined as products or services delivered through a wireless device or via the Internet.

Greycroft II investors encompass a leading group of municipal and corporate pension funds and endowments led by JP Morgan Investment Advisors, in addition to individuals from across the corporate world. The General Partners of the new fund are the same as Greycroft I, Alan Patricof, Dana Settle and Drew Lipsher with the addition of Ian Sigalow, promoted from Principal.

Previously, Greycroft I raised $75 million, completely from high net worth individuals. During its four years in operation, Greycroft I made over 30 investments in the digital media space including: Collective, Huffington Post; Paid Content, which was sold to Guardian Media; Digisynd, which was sold to Disney; and Pump Audio, which was sold to Getty.

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Morningstar UK has acquired Old Broad Street Research

April 13, 2010 — Fusion DigiNet

Morningstar UK Ltd., a subsidiary of Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, has acquired Old Broad Street Research Ltd. (OBSR), a premier provider of fund research, ratings, and investment consulting services in the United Kingdom, for 11.95 million pounds sterling, or approximately U.S. $18.3 million, subject to post-closing adjustments. This is the fourth Morningstar acquisition reported on Fusion DigiNet since February.

Managing directors Richard Downs, Richard Romer-Lee, and Nigel Whittingham will continue to lead the business. The subsidiary will be called, “OBSR, a Morningstar company.”

“Morningstar is a good cultural fit for OBSR. Our research team is renowned in the industry for its quality and experience. Becoming part of a global company with greater resources will enable the team to continue to take the business forward,” said Richard Downs, managing director of OBSR. “The investment and advice world is changing, particularly with the introduction of the Financial Services Authority’s Retail Distribution Review (RDR). As part of Morningstar, we will be able to leverage its core skills in research, design, technology, and data to develop a best-in-class solution that builds on our experience in this area.”

Aprox. Value:  £11.95 million / $18.3 million
 
Acquirer:  Morningstar UK
ACQ Web:  http://www.morningstar.co.uk 
Location:  UK, London
Region:  Europe
Description:  Morningstar, Inc. is a provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisors, and institutions. Morningstar provides data on approximately 350,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 4 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. The company has operations in 20 countries and minority ownership positions in companies based in two other countries.
Category:  Publisher, Media, Finance, Research  
Contact1:  Joe Mansueto, Chairman of the Board, Chief Executive Officer
Contact 2:  Scott Cooley,  Chief Financial Officer
Contact 3:  Don Phillips, president of fund research 
 
Vendor:  Old Broad Street Research
Vendor Web:  http://www.obsr.co.uk
Location:  UK, London
Region:  Europe
Description:  OBSR is a UK based research and consulting firms. OBSR offers an array of customised consulting services including model portfolios, advice on fund construction, and corporate governance services, which are used by many of the leading financial advisers, life offices, and fund platforms. OBSR was established in 1999 after co-founders Richard Downs and Richard Romer-Lee purchased the research business of Buck Investment Consultants Ltd., which was created in 1994. The company has 30 employees.
Category: Market research, Consultancy
Contact 1:  Richard Downs, Managing Director
Contact 2:  Nigel Whittingham, Development Director
Contact 3:  Richard Romer-Lee, Research Director 
 
Links: 

 Related DigiNet Articles

 
FDN Database Reference:  F231109-385
 
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BBC Worldwide seeks a partner for its magazine division

April 13, 2010 — Fusion DigiNet

The BBC is reported to be reviewing options for the magazine division of BBC Worldwide, the commercial arm of the BBC. These might include selling off the Radio Times and entering into a partnership with a rival publisher for the rest of its magazine business.

BBC Magazines publishes over 50 consumer titles including Top Gear, Radio Times, BBC Good Food and Gardeners’ World. It is the UK’s fourth largest consumer magazine publisher and sold around 85 million copies in the past year.  In 2008-09 it made an operating profit of £11.5m, down 31 per cent on the previous year, although sales rose 2.4 per cent to £182.2: Subscriptions are up 16% year on year, at 762,750 (ABC Jan-Jun 09): sales were up 2.4 per cent to £182.2m

BBC Magazines also has growing audiences round the world, with 43 licensed editions of its titles in over 55 territories. In addition, BBC Magazines has joint venture publishing partnerships in India (with the Times of India), and in Australia (with ACP).

A BBC Worldwide spokesman said: “We confirmed to BBC Worldwide staff on Friday that following a review of our magazines business we are seeking a partnership with another company to enable our portfolio of profitable market-leading titles to meet its potential, while still protecting the BBC’s editorial standards and brands.

BBC Worldwide has appointed KPMG to help it find a partner for the magazine business.

Links:

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