Argonon buys factual indie Transparent TV

argononArgonon group has acquired UK indie Transparent Television which specialises in popular factual documentaries. Terms of the deal were not disclosed.

Transparent has made factual documentaries (My Daughter Amy, Channel 4;Extraordinary People: The Baby with a New Face, Channel 5), formats (Restoration Roadshow, BBC Two) and features (Leslie Ash: Face to Face, ITV1). In 2013, two of its series ran on Channel 5, Great Northern Cookbook and Botched Up Bodies.

The deal sees Argonon wholly acquire Transparent Television for an undisclosed sum and founders Jazz Gowans and Richard Hughes transparent TV(pictured) become shareholders in the group.

“Their track record of delivering high quality, innovative and talked about TV shows based on popular themes makes them the perfect fit for Argonon,” says Argonon CEO James Burstall, who describes Transparent’s production team as “very clever….they can go to dark places, but still retain their integrity.”

UK, London

Liberty Global confirms acquisition of Virgin Media – Deal Terms

Liberty Global have confirmed that they are to acquire Virgin Media in a cash & stock merger.

Deal Terms

  • Virgin Media 2012 results (unaudited)Virgin Media
  • Revenue $6.6 billion
  • OCF $2.7 billion
  • OCF margin 41%

Virgin Media shareholders will receive for each share:

  • $17.50 in cash
  • 0.2582 shares of Liberty Global Series A common stockLiberty-Global-logo
  • 0.1928 shares of Liberty Global Series C common stock

Valuation

  • $47.87 per Virgin Media share
  • 24% premium to closing price
  • Implied Virgin Media equity value of $16.0 billion & enterprise value of $23.3 billion
  • Represents 8.8x 2012 OCF multiple
  • Represents 7.0x 2013E OCF multiple, after adjusting for synergies & taxes
  • Accretive to Free Cash Flow

Ownership

  • Liberty Global shareholders expected to own 64%
  • Virgin Media shareholders expected to own 36%

Path to completion

The transaction is subject to majority LGI & Virgin Media shareholder votes, regulatory approvals & customary closing conditions. The deal is expected to close in Q2 2013.

For full details see the Virgin Media Investor Call Presentation here.

USa, Englewood, CO & UK, London

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Viggle to acquire GetGlue for $25M cash and 48.3M shares

Viggle Inc., the television loyalty service, is to acquire GetGlue, the social TV app. Viggle will pay $25 million in cash and 48.3 million shares of stock for GetGlue. Viggle Inc. will operate the Viggle and GetGlue brands, and GetGlue founder and CEO Alex Iskold will join Viggle Inc. in a senior executive position on its management team and as a member of its Board of Directors. Viggle will also absorb all 34 GetGlue employees.

Robert F.X. Sillerman, Executive Chairman and CEO of Viggle said,“With this deal, we are combining very experienced and creative product, engineering and management teams that will continue to build great user experiences and provide industry leading platforms for consumers, networks and advertisers. “We will also be vastly increasing the Viggle user base and quadrupling our network partnerships. Viggle and GetGlue users can look forward to using the apps they have come to love as we add new and appealing features made possible by the combined resources of this clear industry leader.”

Founded in 2007, New York City-based GetGlue has than 3.2 million registered users as well as a database with more than 500 million entertainment ratings and check-ins. GetGlueHD provides customers with a TV guide for the mobile era, listing both TV and online content in calendar form.

Today’s deal is another in a series of recent acquisitions by companies run by Sillerman. In the past five months, Sillerman’s SFX Entertainment bought two Electronic Dance Music companies – Disco Donnie Presents and Life in Color, (formerly Dayglow).

USA, New York