Ascential plans to sell exhibitions arm to focus on digital

February 27, 2018 — Fusion DigiNet

AscentialPlans to focus on its festivals and digital businesses could lead to a £300 million sale of Ascential’s exhibitions division.

The specialist information group previously known as Emap announced the launch of a strategic review of its exhibitions business yesterday.

The exhibitions business, which generated £78 million of revenue last year, includes the Spring and Autumn fairs, home and gift shows for the retail trade; Bett, a series of educational technology events; and Pure, a fashion trade show.

Ascential traces its origins back to 1887, when Sir Richard Winfrey bought the Spalding Guardian. In 1947, the Winfrey family’s newspaper interests were consolidated to form the East Midland Allied Press (Emap). In 1996 it sold its 65 newspaper titles to Johnston Press for £111 million and then in 2007 sold its consumer magazines and radio businesses to H Bauer, the German publisher, for £1.1 billion. The following year the company, by now a business-to-business magazine and events group, was acquired by Guardian Media Group and Apax Partners for about £1 billion.

Analysts estimated that a sale , which also include CWIEME, a series of shows for the automotive, consumer electronics and power generation sectors, could generate proceeds of between £250 million and £300 million. Shares in Ascential jumped by almost 6 per cent yesterday, rising 22½p to 400½p.

The review does not include Cannes Lions, the festival and awards event for the creative and marketing communications, entertainment and design industries, or Money 20/20, a financial technology payments event platform about to be launched in China.

If Ascential does sell its exhibitions unit, it is expected to redeploy the proceeds to pursue acquisitions.

Emap rebranded itself as Top Right Group in 2012, then three years later underwent a fresh change of name to Ascential. In 2016 it was floated at 200p a share, equating to a market value of £800 million.

The launch of the strategic review of its exhibitions division came as Ascential reported a strong set of annual results. Revenues from continuing operations rose by 6.4 per cent to £375.8 million on an organic basis at constant currency, with Cannes Lions lifting revenues by 7 per cent to £65.6 million. On the same basis, underlying earnings were up 3.4 per cent to £119.5 million and a final dividend of 3.8p makes a total of 5.6p, up 19 per cent.

UK, London

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Private equity group Epiris buys NME publisher Time UK

February 26, 2018 — Fusion DigiNet

EpirisPrivate equity group Epiris‘s Fund II has acquired Time UK from US media group Meredith Corporation, a month after Meredith purchased the magazine publisher. The terms of transaction were not disclosed.

Time UK’s portfolio encompasses more than 50 well-known brands, including NME, Country Life, What’s on TV, Woman’s Weekly and Wallpaper, and operates across multiple platforms – print, online, mobile, TV and experiences.

The company is led by CEO and PPA Chairman Marcus Rich, who joined TIUK in 2014 from DMG Media. Sir Bernard Gray, who is Chairman of New Scientist and formerly Non-executive Director of Immediate Media and Chief of Defence Material at the Ministry of Defence, will become Executive Chairman.

Alex Fortescue, Managing Partner of Epiris, said, “This deal is a complex corporate carve-out of the type in which we specialise. The business itself offers plentiful scope for transformation through operational improvement and M&A. We are thrilled to have got Fund II off to such a strong start.”

Chris Hanna, partner at Epiris, said, “At its heart this is a diverse, robust and cash-generative business. We intend to bring clarity and simplicity to it, to focus on maximising the potential of its high-quality portfolio.”

UK, London & USA, Des Moines, Iowa

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ReedPOP acquires Gamer Network

February 26, 2018 — Fusion DigiNet

ReedpopReed Exhibitions’ games and pop culture live events division ReedPOP is adding Gamer Network and its portfolio of events, websites, and video channels to its portfolio. The addition of Gamer Network marks ReedPOP’s first expansion beyond the event production business. The terms of the transaction were not disclosed.

Gamer Network is home to editorial and community websites and YouTube channels, including flagship brands Eurogamer, RockPaperShotgun, GamesIndustry.biz, VG247, Outside Xbox, Digital Foundry and USgamer. The company also organises the UK’s biggest games event, EGX and the world class indie games event, EGX Rezzed.

The combination of the two portfolios gives ReedPOP the opportunity to combine its live games events across four continents with a worldwide online community of over 50 million monthly users.

Lance Fensterman, global head of ReedPOP said, “Gamer Network is one of the world’s leading voices for gamers and gaming culture. The opportunity to be in business with Rupert Loman and the brands, events and team he has created is a once in a lifetime opportunity. Bringing ReedPOP and Gamer Network together, PAX and EGX together – these are the kinds of mash ups you dream of. We are beyond excited to dream up new concepts that will blow the minds of fans all over the world.”

USA, Norwalk, CT & UK, Brighton

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Huntsworth acquires media strategy company AboveNation

February 22, 2018 — Fusion DigiNet

HuntsworthHuntsworth plc, the international healthcare and communications group, has acquired 75% of AboveNation Media from Steve Minichini and John Lee for an initial consideration of $1.75m.

AboveNation Media is a New York-based full-service media strategy, planning and buying agency. AboveNation Media will provide integrated advertising technology solutions across Huntsworth’s Evoke Group business. AboveNation Media will continue to be led by its CEO, Steve Minichini and its President, John Lee and will report to Reid Connolly, CEO of Evoke Group.

The agreement to acquire 75% of AboveNation Media provides for an initial consideration of $1.75m and two deferred payments due in 2019 and 2021, based on a multiple of the EBITDA for the preceding years.

In addition, the agreement provides for a put and call option over the remaining 25% of AboveNation Media exercisable by the sellers or the Group from 1 January 2023. The consideration payable will be based on average EBITDA for the two calendar years immediately preceding.

The initial consideration will be financed through the Group’s existing facilities. Both the deferred consideration and the put and call option consideration payable, may be satisfied either in cash and/or ordinary shares of the Company.

The maximum amount of total consideration payable is capped at $25m.

AboveNation Media generated revenues of c. $1.3m and EBITDA of c. $0.5m in the year to 31 December 2017 and the Group expects the acquisition to be accretive to the Group’s earnings in the current financial year. AboveNation Media’s gross assets were $4.2m as at 31 December 2017.

Mr Connolly said, “The convergence of media and technology has changed the way brands and companies connect with their customers. AboveNation Media is a perfect strategic fit within our group and strengthens our commitment to a culture of innovation and accountability. By integrating the emotional insights that fuel great creative with advanced media strategy and technology, we not only create a more nimble and agile offering but we’re able to create smarter, harder working creative. Collectively we offer our clients the ability to engage and build more valuable relationships and to do so in the most advanced, efficient and, most importantly, transparent way possible.”

UK, London & New York, NY

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Newsquest to acquire regional media company CN Group

February 22, 2018 — Fusion DigiNet

NewsquestNewsquest Media Group Ltd. is to acquire Cumbrian-based media company CN Group in a deal which is part of a larger, scaled operation by the board to better protect the long term future of the group, its staff and its pensioners. The business sold two of its local radio stations to Global Radio in the autumn. The terms of this transaction were not disclosed, but it is expected to complete shortly after shareholders meet on 9th March.

CN Group runs print, digital and event brands covering Cumbria, Northumberland, north Lancashire, and the Scottish Borders including several award-winning papers such as the News & Star, Cumberland News, Times & Star, The Whitehaven News, The Mail and Hexham Courant.

It also has a magazine division that includes Cumbria Life, Taste Cumbria, Bay Living, in-Cumbria, Dumfries and Galloway Life, runs the Choose Cumbria marketing campaign, and events arm CN Events and a print division. It employs 324 people.

Henry Faure Walker, Newsquest chief executive, said: “We look forward to the opportunity of working with the CN Group, its staff and the community it represents in building on their great local brands and publishing expertise, and helping them forge a strong future. We will endeavour to support them with the scale and resources that Newsquest can provide, whilst enabling them to carry on what they have done so well for many years – namely providing first class content and advertising solutions for the people and businesses of Cumbria and the wider region.”

UK, Weybridge & Carlisle

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Infomedia acquires Norwegian Opoint Technology

February 20, 2018 — Fusion DigiNet

InfomediaNordic media intelligence company Infomedia has acquired Norwegian Opoint Technology from M-brain. The terms of the transaction were not disclosed.

The transfer includes Opoint’s global web-crawling technology for online media, the business of web-crawling services for +70 international media monitors and key personnel in Oslo and Chennai.

The acquisition of Opoint Technology does not change the current Nordic collaboration between Infomedia and M-brain under the partnership “MIA – Media Intelligence Alliance”. The two Nordic players will still operate jointly on Nordic print media solutions, but Infomedia is looking to expand their current customer offering for digital media in the Nordics and international media intelligence space.

Infomedia CEO, Thomas Vejlemand said, “The acquisition marks yet another milestone for Infomedia. We are now able to provide global online media content and a strong web-crawling technology for new digital products. This goes very well in hand with the partnerships with Talkwalker and Hootsuite for social media listening and engagement. We also strengthen our position in the global media monitoring space by having an even stronger partner channel with customers from US, to Europe and Asia”.

Denmark, Copenhagen & Norway, Oslo

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Imagine Entertainment acquires Tony Hernandez’s Jax Media

February 20, 2018 — Fusion DigiNet

ImagineImagine Entertainment has acquired Jax Media, the fast-growing production banner headed by Tony Hernandez. The terms of the transaction were not disclosed.

New York-based Jax Media has made a name for itself by producing auteur-driven comedy series and specials for modest budgets. Hernandez will continue to oversee day-to-day operations of the company. Jax is home to TBS’ “Full Frontal With Samantha Bee” and “Search Party,” Comedy Central’s “Broad City” and “Inside Amy Schumer,” BET’s “The Rundown with Robin Thede,” TV Land’s “Younger” and ABC’s “Roseanne” revival, among other shows.

Imagine Entertainment principal Brian Grazer said, “Our company’s roots are in comedy, and I am excited to work with Tony and Jax Media to build upon what Ron (Howard) and I first started. Tony has a keen eye for talent and exceptional taste and execution”.

USA, Beverly Hills, CA & New York, NY

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Bauer Media acquires UK fishing event The Big One

February 15, 2018 — Fusion DigiNet

Bauer Media GroupThe Bauer Media Group has acquired the UK’s biggest fishing show, The Big One. The terms of the transaction were not disclosed.

The Big One is held annually each spring in Farnborough and attracts almost 20,000 enthusiastic anglers. The acquisition complements and strengthens Bauer’s angling media business which already interacts with 600,000 anglers each month through its portfolio of magazines, digital editions, social media and websites.

The Big One will form part of Bauer’s growing specialist events portfolio, which includes the London Motorcycle Show, the MCN Festival and Your Horse Live, already attended by over 100,000 visitors each year.

Vince Davies, who launched and owns the event, will continue to work for Bauer as Event Director, building on the great success he has had growing the show since it launched.

Patrick Horton, Managing Director, Sport & Entertainment at Bauer Media, said, “I’m delighted we are acquiring the biggest event in angling and equally delighted that Vince will continue to work with Bauer Media on the show. It’s a brilliant event that celebrates the best that fishing has to offer, and has great potential in the new permanent event space in Farnborough. We look forward to putting the weight of Bauer’s angling media behind the event to make it bigger and better.”

Germany, Hamburg & UK, Ashford, Middlesex

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THQ Nordic AB acquires Koch Media GmbH

February 14, 2018 — Fusion DigiNet

THQ NordicTHQ Nordic is to acquire 100 percent of the share capital in Koch Media. The total consideration amounts to EUR 121 million on a cash and debt free basis, equivalent to an equity value of EUR 91.5 million. EUR 82 million will be paid in cash and financed by current cash and bank balance. The remaining part of the consideration, amounting to EUR 9.5 million will be paid by consideration shares at a price per share which is based on the volume weighted average price of the company’s shares on Nasdaq First North during the twenty trade days preceding the signing date (14th February), i.e. SEK 95.44. Thus, the consideration shares will comprise 987,965 B shares.

Koch Media is a leading, independent producer and marketer of digital entertainment products in Europe and North America with studios in Germany, the UK, and the US, and offices in several Central and Northern European cities. Koch Media’s business consists of three business areas; i) Games, which are mainly published under the Deep Silver label with several AAA-intellectual property rights such as Saints Row, Dead Island and Metro; ii) Partner Publishing, which is the leading company in this business area in Europe and iii) Film, which is a business within movies for primarily the German- and Italian-speaking territories.

Koch Media generated net sales of approximately SEK 2,548 million and adjusted EBIT of approximately SEK 296 million for the period April – December 2017. The new group generated pro forma net sales and adjusted EBIT for the period April – December 2017 of SEK 2,933 million and SEK 505 million, respectively.

Lars Wingefors, CEO of THQ Nordic, said, “Koch Media has a long history of profitability despite losses incurred from some less successful game releases. THQ Nordic is convinced that the development studios of Deep Silver as part of THQ Nordic will successfully deliver at least four ongoing AAA game projects including Metro Exodus as well as the next Volition Studio AAA release and the next Dambuster Studio AAA release, together with a number of other game development and publishing titles.”

Austria, Vienna & Germany, Planegg

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German Beta Cinema takes stake in UK sales company Cornerstone Films

February 14, 2018 — Fusion DigiNet

Beta CinemaGerman production and distribution outfit Beta Cinema has acquired a minority stake in Alison Thompson and Mark Gooder’s London and LA-based international sales outfit Cornerstone Films. The terms of the transaction were not disclosed.

The two companies will partner on commercially-driven English-language films, combining Beta’s production and distribution operations with Cornerstone’s sales activities – the aim is for the joint alliance to create a stronger foothold for both outfits across the global marketplace.

Recent deals struck between the two outfits include Cornerstone’s sales title Georgetown, directed by Christoph Waltz, which Beta will distribute in Germany. Beta also recently acquired a stake in renowned German film and TV production company X-Filme (Babylon Berlin), which has previously worked closely with Cornerstone.

X-Filme’s Uwe Schott and Beta’s Dirk Schuerhoff said: “We’re very excited to announce our partnership with Cornerstone Films, with whom we have collaborated successfully on various projects during the past years. The partnership is a strategic and creative fit that will allow us to continue to produce ambitious and daring international cinema.”

Germany, Munich, UK, London & USA, Los Angeles, CA
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