Future sells Classic Rock and Metal Hammer

April 2, 2013 — Fusion DigiNet

futureplcFuture plc is to sell its UK rock titles Classic Rock, Metal Hammer and associated brand extensions to Team Rock Limited for £10.2m. The sale will be made on a cash-free and debt-free basis. Completion will occur on 16 April 2013.

As well as Classic Rock and Metal Hammer magazines, the sale includes associated periodicals Prog and AOR, as well as branded events The Golden Gods and The Classic Rock Roll of Honour.

The net sale proceeds will be used to reduce the level of bank debt and provide additional headroom under the Group’s new credit facility for further strategic digital investment. Future retains a portfolio of music-making titles and the musicradar.com website.

For the year ended 30 September 2012, the revenue, gross contribution and adjusted pre-tax profit attributable to these brands were £8.6m, £1.8m and £0.2m respectively. At 30 September 2012, the gross assets relating to these brands were £6.6m.

Mark Wood, Future’s Chief Executive, said: “Classic Rock and Metal Hammer generate revenues predominantly from print. Their sale is in line with Future’s strategy of prioritising products which are international and digital. These two iconic print brands have not been central to that strategy and will thrive within a broader music business.”

UK, London

Related articles:

Posted in Content Media, Internet Media, Publishers, ~Europe. Tags: , , , . Leave a Comment »

Yahoo acquires Summly for $30 million

March 25, 2013 — Fusion DigiNet

YahooYahoo Inc has acquired mobile news aggregator Summly. Terms of the deal were not disclosed. AllThingsD reported that Yahoo paid roughly $30 million. Three Summly employees will join Yahoo as part of the deal.

Summly was founded two years ago by young entrepreneur Nick D’Aloisio, a then 15 year-old working from his home in London. Summly delivers snapshots of news stories to smart phones in a simple and elegant way. Summply was backed by Li Ka-Shing and Horizons Ventures. Plus other angel investors including actor Ashton Kutcher and artist Yoko Ono,

Yahoo said it will shut down the Summly app but will integrate the company’s natural language processing and machine-learning technology across Yahoo’s various online services, particularly Yahoo’s line-up of mobile services.

Here is how how Nick D’Aloisio announced the deal.

In true Summly fashion, I will keep this short and sweet.

I am delighted to announce Summly has signed an agreement to be acquired by Yahoo!. Our vision is to simplify how we get information and we are thrilled to continue this mission with Yahoo!’s global scale and expertise. After spending some time on campus, I discovered that Yahoo! has an inspirational goal to make people’s daily routines entertaining and meaningful, and mobile will be a central part of that vision. For us, it’s the perfect fit.

When I founded Summly at 15, I would have never imagined being in this position so suddenly. I’d personally like to thank Li Ka-Shing and Horizons Ventures for having the foresight to back a teenager pursuing his dream. Also to our investors, advisors and of course the fantastic team for believing in the potential of Summly. Without you all, this never would have been possible. I’d also like to thank my family, friends and school for supporting me.

Most importantly, thank you to our wonderful users who have helped contribute to us receiving Apple’s Best Apps of 2012 award for Intuitive Touch! We will be removing Summly from the App Store today but expect our summarization technology will soon return to multiple Yahoo! products – see this as a ‘power nap’ so to speak.With over 90 million summaries read in just a few short months, this is just the beginning for our technology. As we move towards a more refined, liberated and intelligent mobile web, summaries will continue to help navigate through our ever expanding information universe.

Sincerely, Nick, Founder

USA, Sunnydale, CA & UK, London

Related articles:

Posted in Content Media, Internet Media, ~Europe, ~North America. Tags: , . Leave a Comment »

SFX to acquire dance music events producer ID&T

March 21, 2013 — Fusion DigiNet

SFX Entertainment is to acquire ID&T, the producer of dance music festivals and events worldwide. The deal follows a previously announced joint venture between SFX and ID&T, which will bring ID&T events to North America. SFX is to acquire 75 percent of the company, which is valued at approximately $130 million.

Based in Amsterdam, ID&T is a privately held company that has produced events in Europe and around the world for more than 20 years, welcoming every type of dance music fan to indoor and outdoor events. Among the brands in the ID&T family are Sensation and Mysteryland. Sensation is an indoor house music brand, with events in 20 countries around the world. Mysteryland hosts 60,000 visitors in the Netherlands, 25,000 visitors in Santiago de Chile and will further expand worldwide the next few years.

“This is a hugely significant and strategically important acquisition for SFX,” said Robert F.X. Sillerman, Chairman and CEO of SFX Entertainment. “With ID&T, SFX has an immediate global footprint in more than 20 markets worldwide. ID&T productions are known for being of the highest quality and for producing maximum entertainment for their fans. Their exceptional team has developed amazing dance music brands with tremendous global reach.”

The acquisition of ID&T follows recent acquisitions by SFX of dance music brands Life In Color, Disco Donnie, Miami Marketing Group and Beatport.

USA, New York, NY & The Netherlands, Amsterdam

Related articles:

WPP makes strategic investment in SFX Entertainment Posted on March 18, 2013

Posted in Content Media, Internet Media, Marketing/Advertising, ~Europe, ~North America. Tags: , . Leave a Comment »

Mecom Group plc – results for year ended 31st December 2012

March 21, 2013 — Fusion DigiNet

mecomMecom Group plc has announced its results for the year ended 31st December 2012.
HIGHLIGHTS

  • Adjusted EBITDA of €87.5 million (2011: €111.1 million)
  • Total revenue down 9 per cent to €910.5 million
  • Non-advertising revenues down 3 per cent to €546.1 million
  • Advertising revenues down 17 per cent to €364.4 million
  • Costs lower by 7 per cent, or €63.4 million, versus target of €40 million
  • Total adjusted Group earnings per share of 34.6 euro cents (2011: 46.1 euro cents)
  • Final dividend of 5.5 euro cents per share; full year dividend of 11.5 euro cents (including 3.5 cents relating to earnings from discontinued operations)
  • Net debt halved during the year to €129.5 million, with closing leverage of 1.4 times
  • Strategic Review progressing:
    • agreement signed for the disposal of Poland division
    • agreement signed for the disposal of Autotrack online classifieds business
    • processes continue in Denmark and the Netherlands

Full details here.

 

Posted in Content Media, Internet Media, Publishers, ~Europe. Tags: . Leave a Comment »

Inspired Energy plc – results for the 12 months ended 31 December 2012

March 20, 2013 — Fusion DigiNet

inspiredenergyInspired Energy plc, a UK energy procurement consultant to UK corporates, has announced its final results for the 12 month period ended 31 December 2012.

Financial Highlights

  • Revenue in the year to 31 December 2012 was £5.26 million (six months to 31 December 2011: £1.53 million)
  • Earnings before exceptional costs, depreciation, amortisation and share-based payment costs for the period was £2.64 million (six months to 31 December 2011: £0.91 million)
  • Adjusted EPS was 0.48 pence (excluding amortisation, acquisition cost, share based payments and restructuring cost) (six months ended 31 December 2011: 0.20 pence)
  • Profit before tax £0.89 million (six months to 31 December 2011: £0.61 million loss)
  • Order book of £8.9 million as at 31 December 2012 (£4.3 million at 31 December 2011)
  • New Group bank facilities agreed with Santander UK Plc (“Santander”) – £3.5 million facility to replace existing debt on more attractive terms with an additional acquisition facility of £1.5 million for future transactions
  • Maiden dividend proposed of 0.11 pence per share

Operational Highlights

  • Successful integration of Direct Energy Purchasing Limited, acquired in April 2012
  • Diversification of customer base into new sectors, including public sector and large scale infrastructure
  • Client retention
    • Renewals across the Group at 86 per cent (by contract value)
    • Risk Management division achieved a 100 per cent retention
  • Significant investment in staffing to drive revenue growth with average headcount in year increasing 69 per cent to 54 (31 December 2011: 32)
  • Investment in a bespoke core IT platform to optimise sales and client servicing, in line with the Group’s strategy on admission
  • Ongoing product development including launch of innovative Multi-Customer Management solution
  • Client driven expansion into Europe commenced, including set up of Irish office

Commenting on the results, Bob Holt, Chairman, said: “2012 was a transformational year for the Group, which has delivered confidently on its growth strategy; completing the first acquisition, broadening the customer base, both by sector and geographically and hiring key talent. This combined with the investment in a bespoke IT platform has streamlined business processes enabling us to increase the productivity from our highly skilled and experienced team.”

Janet Thornton, Managing Director, added: “Following a strong performance in 2012 and the significant investment in the business platform I am confident of the prospects for the Group in the new financial year. We have delivered a strong set of results whilst growing the business organically, accelerated by the investment in additional expertise and through the acquisition of DEP. In 2013, I believe that the Group will begin to see significant financial and operational benefits from the investment we have made in both IT infrastructure and talent and we will be able to continue our strong growth rates as well as broadening our product base and geographic reach.”

UK, Lancashire

Posted in B2B Services, Company Results, Energy & Environmental Services, Procurement, ~Europe. Leave a Comment »

Smart Metering Systems plc – results for the year ended 31 December 2012

March 19, 2013 — Fusion DigiNet

Smart Metering Systems plc, a metering services company has announced final results for the 12 months to 31 December 2012.

Financial Highlights

  • Revenue increased by 32% to £21.0m (2011: £16.0m)
  • Recurring meter rental increased by 40% to £9.3m (2011: £6.6m) representing 44% of total revenue
  • Gross profit increased by 50% to £13.3m (2011: £8.9m)
  • Gross profit margin increased by 8% to 63%
  • Adjusted EBITDA* increased by 59% to £9.0m (2011: £5.7m)
  • EBITDA margin increased by 7% to 43%
  • Basic earnings per share increased by 77% to 5.18p (2011:2.93p)
  • Final dividend of 1.15p per ordinary share making 1.65p for the full year
  • New banking club arrangement announced on 2 August 2012 for £45.0m with Barclays Bank PLC (lead bank), Clydesdale Bank PLC and Lloyds Bank PLC, replacing all existing facilities
  • Available cash resources of £31.1m at 31 December 2012

(*Excluding exceptional items and fair value adjustments).

Operational Highlights

  • Total meter portfolio increased by 34% to 341,000 (2011: 254,000) of which 95% are domestic, with substantial growth since half year (H1 2012: 283,275) and currently over 365,000
  • Increase of 74% in capital investment in meter assets to £16.0m (2011: £9.2m) an increase in average monthly run rate of meter installations to £1.3m investment in 2012 (2011: £0.76m)
  • Increase in annualised recurring meter rental revenue as at 31 December 2012 of 42% to £10.8m (2011: £7.6m) and at 28 February 2013 £11.5m.
  • Increase of 26% in Asset installation revenue to £11.8m (2011: £9.4m) of which Gas Connection business increased turnover by 10% to £6.5m (2011: £5.9m)

Alan Foy, Chief Executive Officer, commented: “In our second year since our AiM admission we have delivered another strong set of results against our strategy of ongoing accumulation of meter assets and the introduction of our smart meter technology ADM™. Our second half performance in particular has been very pleasing building on contracts won in 2011 and 2012. We continue to strengthen our team and our financial resources and look to 2013 for another successful year.”

More information here.

UK, Scotland, Glasgow

Posted in B2B Services, Company Results, Energy & Environmental Services, ~Europe. Tags: , . Leave a Comment »

Euromoney Institutional Investor acquires Insider Publishing

March 19, 2013 — Fusion DigiNet

Euromoney logoEuromoney Institutional Investor PLC is expanding its insurance and reinsurance business with the acquisition of Insider Publishing Limited.

Euromoney has paid an initial £16.8 million for Insider Publishing, funded from its existing committed borrowing facility.  It expects to make an additional deferred consideration payment in 2015 based on the growth in profits of Insurance Insider from 2012 to the average of the 2013 and 2014 calendar years.  Insider Publishing recorded an unaudited pre-tax profit of £2.1 million on revenues of £4.7 million for the year to December 2012.

Insider Publishing, set up by former Lloyd’s insurance underwriter Peter Hastie in 2000, is a leading information source for the Insurance insiderinternational insurance and reinsurance markets.  Its business model is centred on trusted, premium subscription content served through The Insurance Insider, the non-life insurance and reinsurance online news service, and a number of other specialist titles, all providing senior industry professionals and advisers with insight and intelligence on the London and international insurance and reinsurance markets.  Insider Publishing also runs a series of events including The Insurance Insider Honours awards dinner and the London One Hundredforum for senior executives of the London insurance market.

“We are delighted to acquire Insider Publishing,” said Richard Ensor, chairman of Euromoney. “Euromoney expects the international non-life insurance and reinsurance markets to remain major consumers of business information.  The acquisition gives Euromoney the opportunity to build critical mass in these markets and it will continue to run the two complementary brands, Reactions and The Insurance Insider, side by side.”

UK, London

Related articles

Posted in Conference/Exhibitions/Events, Content Media, Internet Media, Market Data & Information, Publishers, ~Europe. Tags: , , , . Leave a Comment »

WPP makes strategic investment in SFX Entertainment

March 18, 2013 — Fusion DigiNet

wppWPP has made a strategic investment in SFX Entertainment, Inc., a digital media company described as a global platform for electronic dance music events.

Based in New York City, SFX was founded by Chairman and Chief Executive Officer Robert F. X. Sillerman in 2011. Sillerman and his senior management team average over 30 years’ experience in entertainment and music-related businesses, including acquiring and consolidating companies that specialise in producing and promoting live events.

SFX has created a global platform for dance music through acquisition and partnership with some of the leading festivals, events, clubs and online brands. It has a collective audience of over 100 million connected, highly mobile music fans through its various properties which include: Beatport, ID&T North America (Sensation and Mysteryland), Life In Color, Disco Donnie Presents and Miami Marketing Group, home of LIV, Story and Arkadia.

WPP Chief Executive Sir Martin Sorrell said, “We recognize the value in what SFX is creating and believe we can help bring this valuable audience to our agencies’ global clients. The challenge of navigating through digital and social media is daunting for clients and we believe this partnership can further develop WPP’s content capabilities, particularly in new media in the youth consumer segment.”

UK, London & USA, New York, NY

Related articles:

Posted in Content Media, Internet Media, Marketing/Advertising, ~Europe, ~North America. Tags: , . Leave a Comment »

M&C Saatchi – Results for the year ended 31 December 2012

March 18, 2013 — Fusion DigiNet

18/3
M&C Saatchi has announced its results for the year ended 31 December 2012

Financial Highlights 2012

  • Revenue £169.5m +11% (2011: £153.1m)
  • Operating Profit £17.1m +11% (2011: £15.4m)
  • Profit Before Tax £17.2m +10% (2011: £15.6m)
  • EPS 15.10p +6% (2011: 14.30p)
  • Dividend 4.95p +10% (2011: 4.50p)

Operational Highlights

  • Strong growth in both revenue and earnings, driven by new business wins and new businesses
  • Global Network performed well across all geographies:
    • UK: revenues up 13%, with CRM and mobile performing particularly well, operating profit up 17%
    • Europe: revenues up 11%, operating profit up 14%, in spite of macro-economic challenges
    • Middle East and Africa: revenues up 121%, well positioned to take advantage of growing African market
    • Asia and Australasia: revenues up 8%, operating profit up 46%
    • Americas: revenues up 19% with the New York agency relaunched in Q4
    • Clear had a disappointing year and have restructured (resulting in a good start to the year)
  • Strong balance sheet maintained, focus on cash control with net cash of £17.9m
  • Final dividend increased 10% to 3.85p, which takes the full-year dividend up 10% to 4.95p

Commenting on the results, David Kershaw, Chief Executive, said:

“M&C Saatchi has made very good progress in 2012. The Group returned double digit revenue and operating profit growth. This arose from new business success, increasingly international and integrated, the profitable growth of new businesses in the mature markets and the rolling out of proven models across the network. This was whilst continuing to invest in further new offices and businesses.

“Looking ahead, we are confident that we will continue to make progress in 2013 and beyond. The strategy continues to deliver. ”

More information here.

UK, London

Posted in Marketing/Advertising, ~Europe. Tags: , . Leave a Comment »

Maxim up for sale

March 15, 2013 — Fusion DigiNet

Alpha Media Group has put Maxim up for sale.

“Maxim constantly evaluates its position in the market and has decided now is the optimal time to entertain strategic relationships and offers. The brand will only consider offers that are meaningful and beneficial to both the brand and its investors.”

Maxim was founded in the UK by Felix Dennis, and became hugely successful in the the US.Maxim was so successful upon its arrival in the U.S. It still has a circulation of 2 million. Dennis sold Maxim for $250 million to a management team backed by the Quadrangle Group. After Quadrangle defaulted on its debts, Cerberus Capital Partners took over the title in 2009. Staff numbers have been reduced and the business is said to be financially sound.

Alpha Media Group Inc. was formerly known as Dennis Publishing, Inc. It changed its name to Alpha Media Group Inc. in August 2007.

New York, NY

Related articles:

Posted in Content Media, Publishers, ~Europe, ~North America. Tags: , , . Leave a Comment »
« Older posts
Newer posts »