DMGT back on the acquisition trail?

November 25, 2010 — Fusion DigiNet

The Guardian reports that Daily Mail & General Trust’s strong balance sheet could see it back on the acquisition trail – but not in regional newspapers. DMGT’s debt position has reduced from £1bn down to £862m in the year to 3 October.

Martin Morgan, the chief executive of Daily Mail & General Trust says that the first priority is extra investment in its existing operations, followed by “bolt-on acquisitions to good existing businesses”.

He is not looking to make a major acquisition in new sectors, nor is looking to buy a rival

Read the full story here

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Tony Elliott sells 50% of time Out to Oakley Capital

November 25, 2010 — Fusion DigiNet

Time Out has sold a 50 percent stake to Oakley Capital Investments, a Bermudan based company listed on AIM, for £10 million.

Time Out founder and chairman Tony Elliott said: “I have considered many potential investors over the last seven years to help the brand with the next phase of development and I believe that Oakley Capital, with its entrepreneurial operational focus, will help us with this. I genuinely believe that I have found a real partner for what I expect to be a hugely successful worldwide digital journey.”

Peter Dubens, director of Oakley Capital Investments, said: “It is very rare to be able to help with such a renowned, iconic brand as Time Out, which over the last 42 years has provided first class editorial on culture and entertainment to over 50 cities around the world.  We believe that we will help this brand both in its traditional media and the continued transition to digital over the coming years.”

Time out was launched by Tony Elliot 42 years ago. It now has 36 city magazines published independently in 24 countries, 22 travel magazines in 19 countries, guide books, events and an online presence. Time Out is to be the official book publisher of travel guides and photographic books for London 2012 Olympic and paralympic games. Online-only advertiser-funded magazines are to be launched around the world. Berlin, Barcelona and Paris are tipped to be the first cities to benefit from the development.

UK, London

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August Equity LLP exits its investment in Imagine Publishing

November 23, 2010 — Fusion DigiNet

Private Equity firm August Equity has completed the exit of its investment in Imagine Publishing via a refinancing and buy back.  The buy back generates a 2 times money multiple return for August Equity managed funds.

Imagine is one of the UK’s fastest-growing specialist consumer magazine publishers, with over 20 print magazines, 18 iPhone/iPad digital editions, and 27 websites published worldwide within the entertainment, computing, digital photography and videogames markets.

August Equity managed funds initially invested in Imagine in January 2006 when they provided £7 million expansion capital, enabling the management team to acquire a portfolio of magazine titles from Highbury Entertainment Limited.  Since then the group has acquired a number of magazines, launched a host of their own titles and produced a bookazine range which has significantly contributed to the growth of the business.

Damian Butt, managing director of Imagine, commented: “The August Equity team has been very supportive throughout the investment period and contributed significantly to the growth of the business.  However, we are excited to have bought back the August Equity stake and will continue to develop our magazine, bookazine and website portfolio.”

Richard Green, August Equity chairman, said: “We are delighted with the exit of Imagine.  The business has continued to grow strongly in a difficult market and has provided a healthy return for our investors.  The team is highly focussed and creative and will continue to drive growth in the business.

UK, London and Bournemouth, Dorset

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Axel Springer has been on a digital buying spree

November 20, 2010 — Fusion DigiNet

An interesting article on paidContent earlier this week describes how Axel Springer has been on a digital buying spree, taking stakes in CarWale: (giving springer 52.1%), BagItToday.com (19.1%), Sohomint.com (72.6%) and Buy.at. Also had an offer rejected for eLoger.com.

Read the full story on paidContent here.

Axel Springers announcements are below.

Germany, Berlin

Announcements

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Aspiro sells mobile entertainment business to Exsol Oy

November 20, 2010 — Fusion DigiNet

TV and music streaming services business Aspiro has sold its remaining Mobile Entertainment business in Finland to Exsol Oy. The initial purchase price is €100,000, plus an earn-out which should give Aspiro a minimum of €200,000 euros over a two year period. The earn-out model is based on 15% percent of the pay-outs from the operators. Net sales for the Mobile Entertainment business in Finland from January-September 2010 was about 7.5 million SEK. Earnings after direct expenses for the same period were approximately 1.8 million SEK and EBITDA of minus 0.7 million SEK.

“We are streamlining our operations and focusing mainly on streaming services in music, television and video, as well as business solutions in the Mobile Solutions area. We see very high growth potential in the future and it is therefore positive that we can focus even more on our core business, “says Aspiro’s CEO Gunnar Sellæg.

Aspiro delivers services to partners worldwide like T-Mobile, Telefónica O2, Telenor, 3, TeliaSonera, Tele2, the BBC, Aftonbladet, mBlox, TVNorge, Entel and VG. Aspiro is listed on Nasdaq OMX Nordic Exchange Stockholm and has a local presence in all the Nordic and Baltic countries. Sales for continuing operations in 2009 were SEK 249 m and the company has some 115 employees.

Finland

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IPC Media sells Wedding and Wedding Flowers magazines to Hubert Burda Media UK

November 19, 2010 — Fusion DigiNet

As part of the review of IPC Media’s niche and specialist titles, IPC Media has sold Wedding and Wedding Flowers to Hubert Burda Media UK.

Wedding is an inspirational glossy for brides-to-be, offering a myriad of ideas for the most glamorous event of its readers’ lives. Wedding Flowers is the UK’s only consumer magazine devoted to big day blooms, providing beautiful ideas alongside practical and expert advice.

The deal sees Burda acquire the brands – currently published within the IPC Southbank portfolio – with immediate effect. There will be no interruption to the publishing schedule of the titles.

Hubert Burda Media UK publishes a number of respected consumer and b2b titles, including Love it!, Full House!, Your Home, Essential Kitchen Bathroom Bedroom Magazine and Essential Kitchen & Bathroom Business.

IPC Southbank managing director Jackie Newcombe says:

“It has been a pleasure to work with Catherine Westwood and her team over the past few years; they are hugely talented and have produced two magazines of real quality for IPC Southbank. I know that I speak for all my colleagues in wishing them well in their new home and I would like to thank them personally for their contribution to our business.”

Luke Patten, CEO of Hubert Burda Media UK, says: “We are delighted to add Wedding and Wedding Flowers to our portfolio, and look forward to welcoming the entire team to our High Holborn office. Laying claim to 25 successful years already, both titles will be receiving significant investment in order to improve and expand the brands even further.”

Staff transfer to Burda with immediate effect.

UK, London

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Publicis Groupe acquires Eastwei Relations

November 19, 2010 — Fusion DigiNet

Publicis Groupe today announced it has signed an agreement to acquire Eastwei Relations, one of China’s first independent public relations and strategic communications consultancies. Eastwei will be renamed Eastwei MSL and will be aligned under MSLGROUP, Publicis Groupe’s leading specialty communications, PR and events network.

Founded in 1994, Eastwei today employs more than 120 staff across its four offices in Beijing (its headquarters), Shanghai, Guangzhou and Chengdu. Eastwei’s key clients include IKEA, Sony, Singapore Tourism Bureau and Porsche. Over the last 15 years, Eastwei consultants have developed a wide range of China-specific, proprietary tools, processes and software for managing strategic communications campaigns. Last year, leading PR industry analyst, The Holmes Report, named Eastwei 2009 China Consultancy of the Year.

Johan Bjorksten, Founder and Chairman of Eastwei, has been working in China for more than 20 years and is recognized as one of the most successful foreign businessmen in the country. Bjorksten is a founding member of the Swedish Chamber of Commerce, and a board member and China advisor to numerous international companies and organizations. Bjorksten is also a media celebrity in China, having hosted more than 400 of his own weekly Chinese TV and radio shows, and has written several books on Chinese business and language, including the recent local bestseller How to Manage a Successful Business in China. Following the acquisition, Johan Bjorksten will report to Glenn Osaki, President MSLGROUP Asia.

Olivier Fleurot, Chief Executive Officer, MSLGROUP, remarked, “Today marks the second investment in as many months by MSLGROUP in strengthening capabilities in the Asia region, following the acquisitions of 20:20 MEDIA and 2020Social in India. Eastwei MSL will become a key hub in the MSLGROUP global network for insight, strategic counsel and campaign execution in China and bring added service offerings to our clients in this important market.”

China has one of the most dynamic and fastest-growing communications markets in the world. According to ZenithOptimedia forecasts (October 2010), Chinese ad market year-on-year growth is expected to reach 14% in 2010, 13.4% in 2011 and 17.7% in 2012. Publicis Groupe is present in China through all of its global networks. The Groupe employs more than 3,700 professionals throughout more than 50 cities (including Beijing, Shanghai, Chengdu, and Guangzhou).

China, Beijing & France, Paris

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ZeniMax Media acquires game publisher Bethesda Softworks

November 19, 2010 — Fusion DigiNet

ZeniMax Media Acquires European StudiZeniMax Media, parent company of noted game publisher Bethesda Softworks, today announced it has acquired a European development studio, MachineGames, based in Uppsala, Sweden.

Established in 2009 by the founding members of Starbreeze Studios, the creative team behind the award-winning title, The Chronicles of Riddick: Escape from Butcher’s Bay and the highly-regarded game, The Darkness, MachineGames is working on an unannounced project for ZeniMax publishing subsidiary, Bethesda Softworks, that is being built on id Software’s revolutionary id Tech® 5 engine technology.

Jerk Gustafsson, the studio’s CEO who will also oversee development as Executive Producer, expressed his studio’s enthusiasm at joining ZeniMax by saying, “Working with our new colleagues at id and the world class publisher, Bethesda Softworks, is a tremendous opportunity.”

“MachineGames has assembled a dedicated team that has extensive experience working together to produce quality games. We are excited to create a new AAA title for gamers on id Tech 5 that will push the game development envelope,” Gustafsson continued.

MachineGames joins a group of high-profile development studios which includes Bethesda Game Studios®, id® Software, Arkane® Studios and Tango Gameworks™. This deal reinforces Bethesda’s commitment to delivering premier titles to gamers worldwide.

“MachineGames shares our passion for creating ground-breaking gaming experiences,” said Robert Altman, Chairman and CEO of ZeniMax Media. “We are excited to have these accomplished industry veterans join ZeniMax Media’s group of world-class studios.”

Sweden, Uppsala & USA, Rockville, MD

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NBCU acquires TV prodco Monkey Kingdom

November 19, 2010 — Fusion DigiNet

NBC Universal has acquired indie Monkey Kingdom for an undisclosed sum. Under the erms of the agreement NBCU will acquire 100% of the company and all Monkey library rights. This is NBCU’s second UK prodution company acquisition. NBCU also acquired Carnival Film & Television in 2008. It is the first acquisition by the studio since the appointment of Michael Edelstein as NBCU president of international TV production.

Monkey Kingdom was founded in 2001 by producers David Granger and Will Macdonald. The company delivers scripted, factual and entertainment programming in both the UK and the USA. Monkey has a proven ability to produce a wide range of content, as diverse as The Charlotte Church Show, The House Of Obsessive Compulsives, The Secret World of Sam King and Prince Charles’ Other Mistress, ensuring that ideas will always be given the best possible creative and production support.

UK, London & USA, New York, NY

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UBM acquires Publishing Expo tradeshow for £320,000

November 11, 2010 — Fusion DigiNet

United Business Media has acquired Publishing Expo, a tradeshow serving the UK publishing industry. UBM is acquiring the event on behalf of UBM Live from Legend Exhibitions Ltd for a total cash consideration of £320,000.

First staged in 2006, Publishing Expo () is the only major exhibition in the UK dedicated to the full range of digital and print publishing solutions. It comprises a two day exhibition and a free seminar programme addressing key issues in the publishing industries, as well as providing an opportunity to meet suppliers from all segments of digital and traditional media. The event attracts key decision-makers including senior production, circulation and distribution, marketing, design, editorial and sales staff from all types of publishing businesses, and increasingly those which are expanding into online and other digital publishing environments.

The 2011 edition of Publishing Expo will take place at Earls Court in London on 1-2 March and will be co-located with UBM Live’s existing complementary tradeshows Technology For Marketing & Advertising (www.t-f-m.co.uk) and the Online Advertising & Affiliate Expo. Publishing Expo will form part of UBM Live’s Marketing Technology and E Commerce Portfolio, which also includes Internet World and E Commerce Expo.

The acquisition is anticipated to exceed UBM’s cost of capital criterion in its first full year of ownership.

Simon Foster, Chief Executive of UBM Live said:

“The acquisition of Publishing Expo adds a further industry-leading event that complements our Technology For Marketing & Advertising and Online Advertising and Affiliate Expo events. Co-locating these events at a single venue at Earls Court in 2011 will enable us to provide the UK’s first comprehensive live event solution for marketing, advertising and media professionals and businesses.”

UK, London

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