Kew Media Group to acquire Essential Quail Media Group

April 30, 2018 — Fusion DigiNet

Kew Media GroupKew Media Group Inc. has agreed to acquire Essential Quail Media Group for an initial purchase price of AUD$32.8 million (C$31.9 million based on the current CAD/AUD FX rate of approximately 0.972), comprised of AUD$20.0 million (C$19.4 million) in cash and AUD$12.8 million (C$12.4 million) in Class B shares of KEW valued at C$10.00 per share.

EQ Media combines several entities with aggregate pro forma revenue of over AUD$60 million (C$58 million). The initial purchase price represents a transaction multiple of approximately 3.2x EQ Media’s estimated Adjusted EBITDA of AUD$10.2 million (C$9.9 million) for its fiscal year ending June 30, 2018. The cash portion of the initial purchase price will be funded through cash on hand and KEW’s credit facilities. The vendors may receive additional consideration in the future, conditional upon EQ Media meeting certain financial targets and other tests, which are described below.

EQ Media is a leading independent producer of high quality content for international audiences operating from offices in Los Angeles and Dallas-Fort Worth in the U.S. and Sydney, Australia. EQ Media produces content in a variety of genres, particularly non-scripted television series, for broadcast customers worldwide. Buyers of EQ Media’s programming include DIY, HGTV, Cooking Channel, Animal Planet, ABC Australia, SBS, Foxtel Networks 7, 9 & 10, BBC, National Geographic, PBS, Discovery, Sundance, History Channel, Arte, Netflix and Fox Network. EQ Media also has a longstanding relationship with Scripps Networks (now part of Discovery Inc.), producing more than a dozen full series orders and pilots together.

Steven Silver, KEW Founder & CEO, said, “EQ Media is an exciting addition to the KEW group and the transaction purchase price is an attractive valuation for such a prominent content producer. We expect the acquisition to be immediately accretive to earnings and to free cash flow. In addition, we expect to generate meaningful synergies from the sale of additional EQ Media content through KEW’s global distribution platform.”

Canada, Toronto & USA, Los Angeles, CA

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Sinclair Broadcast Group to sell TV stations as part of Tribune acquisition

April 24, 2018 — Fusion DigiNet

SinclairSinclair Broadcast Group Inc is selling 23 television stations to several companies after completing its $3.9 billion acquisition of Tribune Media.

The sales are to obtain the necessary governmental approval of the Tribune transaction, the company said, as it has worked for months to win regulatory approval for the deal.

Chris Ripley, President and CEO of Sinclair, said, “After a very robust divestiture process, with strong interest from many parties, we have achieved healthy multiples on the stations we are divesting. While we continue to believe that we had a strong and supportable rationale for not having to divest stations, we are happy to announce this significant step forward in our plan to create a leading broadcast platform with local focus and national reach. The combined company will continue to advance industry technology, including the Next Generation Broadcast Platform, and to benefit from significant revenue and expense synergies”.

Standard Media Group, an affiliate of Standard General L.P., will acquire the following nine television stations in seven markets for $441.7 million in cash:

KOKH-TV, Oklahoma City, OK (affiliated to FOX)
WXMI, Grand Rapids-Kalamazoo-Battle Creek, MI (affiliated to FOX)
WPMT, Harrisburg-Lancaster-Lebanon-York, PA (affiliated to FOX)
WXLV-TV, Greensboro-High Point-Winston Salem, NC (affiliated to ABC)
WRLH-TV, Richmond-Petersburg, VA (affiliated to FOX)
WOLF-TV (1), Wilkes Barre-Hazelton-Scranton, PA (affiliated to FOX)
WSWB (1), Wilkes Barre-Hazelton-Scranton, PA (affiliated to CW)
WQMY (1), Wilkes Barre-Hazelton-Scranton, PA (affiliated to MY)
KDSM-TV, Des Moines-Ames, IA (affiliated to FOX)
(1) Sinclair is not the licensee of these stations and will only be selling the assets of such stations that Sinclair owns, together with its right to purchase the licenses of the stations.

Meredith Corp will acquire CW-affiliated KPLR-11 in St. Louis for $65 million. Additionally, three stations are going to Howard Stirk and two are going to shared services agreement partner Cunningham Media. The buyer for the remaining seven stations is yet to be named.

USA, Hunt Valley, MD & Washington, WA & St Louis, MO & Baltimore, MD

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ITE sells metalworking exhibition Metaltech in Malaysia to UBM

April 24, 2018 — Fusion DigiNet

ITEITE Group plc has sold TradeLink ITE Sdn. Bhd., the owner of Metaltech, the metalworking exhibition in Malaysia, to UBMMG Holdings Sdn. Bhd., a subsidiary of UBM plc for a total cash on completion consideration of MYR 23 million (£4.2m).

In the year to 30 September 2017, Tradelink ITE had gross assets of MYR 29.4m (£5.4m), reported a turnover of MYR 12.4m (£2.3m) and, due to non-recurring costs, made a loss before tax of MYR 1.7m (£0.3m).

Mark Shashoua, CEO, ITE Group plc said: “For the Metaltech team, this represents a logical and exciting development – their new parent has an existing business in Malaysia and can ensure the investment and continued success of the exhibition. I would like to thank our team in Malaysia for their contribution to ITE over the years and wish them well for the future.”

ITE acquired TradeLink in 2013.

UK, London & Malaysia

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DLT Entertainment acquires Vera Productions

April 24, 2018 — Fusion DigiNet

DLT EntertainmentIndependent production and distribution company DLT Entertainment has acquired production company Vera Productions. The terms of the transaction were not disclosed. Through the deal Vera will continue to operate as a separate company under the DLT banner but will be wholly owned by DLT Entertainment. DLT will acquire Vera’s portfolio of extensive programming, approximately 300 hours in the catalogue, with series currently represented by a number of distributors.

Vera launched in 1994, and has since produced an extensive portfolio of award-winning shows including Bremner Bird and Fortune, three series of Getting On starring Jo Brand, Vicki Pepperdine, and Joanna Scanlan for BBC Four, four series of Alistair McGowan’s Big Impression for BBC One, six series of Mark Thomas Product and numerous Dispatches for Channel 4, including the recent President Trump’s Dirty Secrets, Politicians for Hire and How to Buy A Football Club. In addition, Vera has produced several pieces for Channel 4 News and created Big Trouble in Thailand for Bravo, and most recently produced Million Pound Jewellers for Channel 4 Arts and three episodes of Going Forward starring Jo Brand and Omid Djalili for BBC Four.

Donald Taffner Jr., President of DLT Entertainment, said, “We have had a long regard for the shows that Vera has produced […]. DLT are not in the production company aggregation business for growth and this acquisition does not signal a change in that philosophy, but welcomes Vera to the DLT family where we will provide business and financial support while Vera Productions will continue as the production entity for its programmes. It is a very exciting time.”

UK, London

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Freeman acquires Info Salons

April 17, 2018 — Fusion DigiNet

FreemanBrand experience company Freeman has acquired digital technology company Info Salons, a leading provider of registration and attendee database management solutions. The terms of the transaction were not disclosed.

With the acquisition, Freeman will benefit from Info Salons’ nearly 30 years of experience in the industry and its event technology solutions which aim to improve online and on-site registration processes and unlock attendee data and sales leads for show organizers. Going forward, Info Salons applications and tools will be fully integrated into the digital solutions offered by Freeman.

Richard Maranville, chief digital officer at Freeman, said, “We’re always looking for ways to simplify the event and show planning processes for our clients; and investing in leading digital technologies enables us to provide the robust capabilities show organizers need to thrive in the ever-evolving events industry. With the integration of Info Salons’ digital tools into our event management offerings, we’ll be better equipped to help our clients get the most out of their attendee data.”

USA, Dallas, TX & Australia, Surry Hills

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Media 10 acquires Pro Publishing Media & Events

April 11, 2018 — Fusion DigiNet

Media 10Media 10 has acquired Pro Publishing Media & Events Ltd, originally founded by Clara Perry in 2007. The terms of the transaction were not disclosed.

The acquisition will bolsters Media 10’s offering within the kitchen and bathroom sector. Brands include luxury consumer magazine Utopia Kitchen & Bathroom, trade magazine Designer Kitchen & Bathroom, and the Designer Kitchen & Bathroom Awards event. Digital brands kb-eye.com and kb-network.co.uk also form part of the portfolio, as well as The d List, the Designer Guides and the Utopia Supplements.

All brands will continue to be headed up and managed by Perry under a directorship role of the newly formed kitchen and bathroom division at Media 10 Ltd.

Media 10 CEO Lee Newton said, “With over a million people visiting our events each year from both the trade and consumer markets, we are delighted to be able to join forces with Clara and her excellent team; this partnership puts us in a unprecedented position where all products can take advantage of each other’s strengths to continue to build strong brands across all media platforms within the kitchen and bathroom industry.”

UK, Loughton & Colchester

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Karger Publishers acquires Health Press Ltd

April 11, 2018 — Fusion DigiNet

KargerThe medical and scientific publishing company Karger has acquired the information service Health Press Ltd, in a move to strengthen its clinical decision support business. This acquisition complements Karger’s German-based activities in translating knowledge from scientific research to clinical practice. The financial terms of the deal were not disclosed.

Health Press Ltd is an award-winning, multi-platform information service for the medical community, providing premium content to improve medical practice. Founded by Sarah Redston in 1993, Health Press has since established three brands: the medical handbook series Fast Facts, illustrated guides to medical conditions and concerns Patient Pictures, and the consumer web product http://www.embarrassingproblems.com. All three brands serve the goal of promoting health through communication with a global network of medical practitioners and patients.

Daniel Ebneter, CEO of Karger Publishers, said, “This acquisition is a perfect addition to Karger and fully supports our strategy. It provides us with the opportunity to expand our clinical decision support business to the United Kingdom, the United States, Australia, and, more generally, English-speaking audiences worldwide”.

Switzerland, Basel & UK, Abingdon

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FPE Capital LLP acquires a majority stake of IWSR

April 9, 2018 — Fusion DigiNet

IWSRFPE Capital LLP has acquired a majority stake supporting the MBO of the IWSR, which owns and operates the world’s largest database on the beverage alcohol market. The IWSR management team is led by CEO Mark Meek. Mark has worked in the business information sector for over 20 years and was formerly CEO of Datamonitor and Progressive Digital Media.

IWSR is headquartered in London and has a US office in New York. Over the last 40 years the company has built up the world’s largest database on the beverage alcohol market, covering market, category and brand performance in 157 countries.

At completion, Neil Smith joined the business as non-executive Chairman. Neil was formerly Group COO of Wilmington plc and has over 25 years’ experience as a founder, director, advisor and investor in information businesses.

David Barbour, Managing Partner at FPE, commented: “We are delighted to be backing Mark Meek and his team in the management buyout of IWSR. Mark has driven significant growth at IWSR since becoming CEO four years ago and we look forward to partnering with him and the team for their next phase of growth. We will build on the excellent reputation of the business and its unique market leading data to ensure this remains a leading global supplier to the drinks industry and grows to service the new markets and products in this sector. We are delighted that the founding Smith family will continue to be represented within the business by Alastair Smith who continues in his role as Director, and will have a shareholding in the business.”

UK, London

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Blackstone reportedly near a deal to buy PennWell for around $300M

April 4, 2018 — Fusion DigiNet

According to an article on the Forbes website, Blackstone Group is close to finalising a deal to acquire PennWell Corp for around $300 million. The company has estimated revenue of around $170 million. Forbes sources say the deal is being made specifically through Clarion Events, the London-based trade-show operator that Blackstone acquired last summer.

Read the Forbes article here.

USA, New York. NY & Tulsa, OK

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Future plc acquires Newbay Media

April 4, 2018 — Fusion DigiNet

FUTURE-logo-Future plc, a global platform for specialist media, has acquired Newbay Media LLC, a US based information and events business, for an initial net consideration of $12.25 million (£8.62 million) cash and $1.55 million (£1.09 million) shares, with a further potential deferred consideration of up to $5.60 million (£3.94 million) in January 2019, depending on the future performance of the acquired business.

Newbay’s information and events business operates in three verticals: Television & Video, Entertainment & Educational Technology and Music. Newbay’s brands include Music Week, Twice and Broadcasting & Cable. Newbay generated EBITDA of $4.2 million in the year ending 31 December 2017.

The acquisition has been funded in part by an increase in Future’s debt facilities of £5m with the remainder of the cash consideration, as well as the expected cash consideration of the acquisition of the Haymarket titles recently announced, funded out of existing debt facilities

The initial share consideration constitutes 283,692 new ordinary shares of 15p each (the “Consideration Shares”) with a holdback on a potential further 18,303 shares. The Consideration Shares will be subject to lock-up restrictions for a period of three months from the date of issue.

Zillah Byng-Thorne, CEO of Future, commented: “This acquisition strengthens our presence in the US, and together with our recent UK acquisition expands our market leadership in music and consumer electronics. Newbay’s B2B titles, including those in audio visual and television broadcasting, will further diversify our revenue streams whilst bringing additional valuable B2B experience to complement Future’s B2C businesses.“

UK, London & USA, New York, NY

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