Blue Ant acquires Saloon Media

October 11, 2018 — Fusion DigiNet

Blue Ant MediaCanadian broadcaster, producer and distributor Blue Ant Media has acquired Toronto-based factual production company Saloon Media as part of its ongoing expansion in North America. The move will see Saloon’s CEO Michael Kot, executive producers Steve Gamester and Paul Kilback, and head of production Betty Orr join Blue Ant’s global production unit. The terms of the transaction were not disclosed.

Blue Ant has already brought NHNZ (New Zealand), Beach House Pictures (Singapore), Antenna Pictures (London), Blue Ant Digital Studios (LA), Look Mom! Productions (Toronto) and Northern Pictures (Sydney) under the unit’s control in recent years.

Saloon launched in 2013, and recent credits include the CSA-nominated series Mummies Alive for History (Canada), Smithsonian Channel (US) and Yesterday (UK). It has also worked on Tornado Hunters for CMT, coproduced See No Evil for Investigation Discovery with UK indie Arrow Media, and made Hunting Nazi Treasure for History (Canada), American Heroes Channel (US) and More4 (UK).

Sam Sniderman, Blue Ant’s EVP global production, said, ““Blue Ant Media is committed to growing its content business in both Canada and the United States. The acquisition of Saloon Media is a key step in the execution of this strategy, as their award-winning factual content and notable creative talent fit perfectly within our content growth strategy in North America.”

Canada, Toronto

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Update: Department of Justice approves Disney bid for Fox

June 27, 2018 — Fusion DigiNet

walt disney companyThe Department of Justice has approved the Walt Disney Company’s $71 billion bid for the entertainment assets of 21st Century Fox. The government’s approval was filed in federal court on the condition that Disney, which already owns ESPN, divest all of Fox’s 22 regional sports networks, which include valuable channels like the Yankees’ YES network.

“Today’s settlement will ensure that sports programming competition is preserved in the local markets where Disney and Fox compete for cable and satellite distribution,” Makan Delrahim, the head the Justice Department’s antitrust division, said in a statement.

USA, Burbank, CA & New York, NY

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Disney increases its bid for Fox to $71.3BN

June 21, 2018 — Fusion DigiNet

walt disney companyThe Walt Disney Company has upped its bid to acquire 21st Century Fox by 35 % to $71.3 billion, following a rival bid from the Comcast Corporation last week for $65bn (£48.6bn) in cash.

Disney has also moved from of an all-stock deal for Fox, owner of assets including X-Men film studio 20th Century Fox, and a 39% stake in Sky, to a 50/50 mix of cash and shares.

USA, Burbank, CA & New York, NY

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Walt Disney set to acquire 21st Century Fox businesses for $52.4BN

December 14, 2017 — Fusion DigiNet

walt disney companyThe Walt Disney Company has entered into an agreement to acquire 21st Century Fox, including the Twentieth Century Fox Film and Television studios, along with cable and international TV businesses, for approximately $52.4 billion in stock.

Prior to the acquisition, 21st Century Fox will separate the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network into a newly listed company that will be spun off to its shareholders.

Combining with Disney are 21st Century Fox’s film production businesses, including Twentieth Century Fox, Fox Searchlight Pictures and Fox 2000, and its storied television creative units, Twentieth Century Fox Television, FX Productions and Fox21. Disney will also acquire FX Networks, National Geographic Partners, Fox Sports Regional Networks, Fox Networks Group International, Star India and Fox’s interests in Hulu, Sky plc, Tata Sky and Endemol Shine Group.

Under the terms of the agreement, shareholders of 21st Century Fox will receive 0.2745 Disney shares for each 21st Century Fox share they hold. Disney will also assume approximately $13.7 billion of net debt of 21st Century Fox. The acquisition price implies a total equity value of approximately $52.4 billion and a total transaction value of approximately $66.1 billion for the business to be acquired by Disney, which includes consolidated assets along with a number of equity investments.

The acquisition is expected to yield at least $2 billion in cost savings from efficiencies realized through the combination of businesses, and to be accretive to earnings before the impact of purchase accounting for the second fiscal year after the close of the transaction.

Robert A. Iger, Chairman and Chief Executive Officer of The Walt Disney Company, said, “We’re excited about this extraordinary opportunity to significantly increase our portfolio of well-loved franchises and branded content to greatly enhance our growing direct-to-consumer offerings. The deal will also substantially expand our international reach, allowing us to offer world-class storytelling and innovative distribution platforms to more consumers in key markets around the world.” Mr. Iger will continue as Chairman and Chief Executive Officer of The Walt Disney Company until the end of 2021.

USA, Burbank, CA & New York, NY

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Gannett to acquire television company Belo

June 13, 2013 — Fusion DigiNet

gannettInternational media business Gannett is to acquire television company Belo in a deal that nearly doubles Gannett’s broadcast portfolio.

Gannett will acquire all outstanding shares of Belo for $13.75 per share in cash, or approximately $1.5 billion, plus the assumption of belo$715 million in existing debt for an enterprise value of approximately $2.2 billion. The transaction, which has been unanimously approved by the boards of directors of both companies, represents a 28.1 percent premium to the closing price of Belo common stock on June 12, 2013.

Belo Corp. owns and operates 20 television stations and their associated websites.  Belo stations, which include affiliations with ABC, CBS, NBC, FOX, and the CW, reach more than 14 percent of U.S. television households.

The Company anticipates that the transaction will generate approximately $175 million in annual run-rate synergies within three years after closing.  The transaction valuation implies a 9.4x average 2011/2012 EBITDA multiple prior to synergies, and a 5.4x multiple assuming expected synergies.

Gracia Martore, President and Chief Executive Officer of Gannett, said, “We are thrilled to bring together two highly respected media companies with rich histories of award-winning journalism, operational excellence and strong brand leadership.  We have been successfully transforming Gannett into a diversified multi-media company with broadcast, digital and publishing components across high-growth markets nationwide, and this is another important step in the process.  It will significantly improve our cash flow and financial strength, enabling us to quickly pay down debt while remaining committed to disciplined capital allocation.  By enhancing our portfolio with one of the largest, most geographically diverse and network-balanced TV station groups in the country, the new Gannett will be well positioned to lead innovation, bolster our existing growth initiatives and take advantage of new opportunities in the emerging digital media landscape.”

USA, McLean, VA & Dallas, TX

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