
Welcome to Press Gazette’s deals homepage, where we plan to track all the latest and most significant news about media mergers and acquisitions (M&A) and other deals in the news and media sector.
Please email us at pged@pressgazette.co.uk with deal tips or announcements to appear in our coverage.
15 August 2022
Phenomenal Media Acquires Reductress By Andrew Kersley Phenomenal Media, a media company that platforms female and other historically excluded voices, has acquired satirical women’s digital magazine Reductress for an undisclosed fee. Reductress was founded in 2013 to take on the condescending tone of women’s media and marketing, and to highlight women and marginalised writers in the entertainment industry. Former staff have gone on to write for Saturday Night Live, The Tonight Show With Jimmy Fallon, and Full Frontal With Samantha Bee. Source: Press Release Deal size: Undisclosed Country: US Status: Official |
27 July 2022
Publisher adtech platform Sovrn raises $36m By Dominic Ponsford Sovrn, the advertising technology and data company, has raised $36m in new funding from private equity investors. The US-based technology platform is used by thousands of publishers and claims to empower publishers to remain independent and thrive on the open web. Some 6,000 publishers share data across the Sovrn network which offers an alternative to Google’s advertising technology. Source: Press release Deal size: $36m Country: US Status: Official |
25 July 2022
Software investment firm Cuadrilla Capital buys Chartbeat By Charlotte Tobitt Media analytics company Chartbeat, which is used by major publishers including the BBC, New York Times and Washington Post, has been bought by software investment firm Cuadrilla Capital for an undisclosed sum. Chartbeat’s chief executive John Saroff will continue to lead the business into its “next phase of growth”. Saroff said: “As content creation proliferates, media companies are faced with the challenge of how best to draw and engage users. “Our mission is to enable meaningful stories to thrive by helping organizations build deep connections with their audiences – all in real-time. Cuadrilla’s sponsorship provides us with the support and resources to accelerate our strategic roadmap in service of our customers through product innovation and market expansion.” Source: Press release Deal size: Undisclosed Country: US Status: Official |
19 July 2022
Informa buys B2B publisher Industry Dive By Charlotte Tobitt UK-based B2B and events business Informa has bought US B2B publisher Industry Dive. Informa expects to create revenue synergies by combining Industry Dive’s platform, specialist content and B2B data with its existing brands. Source: Read more on Press Gazette Deal size: $389m (£323m) Country: US/UK Status: Official |
18 July 2022
Private equity groups buy Euromoney By Andrew Kersley Euromoney Institutional Investor, the financial publisher behind the Euromoney magazine, has accepted a £1.7bn takeover from two private equity groups, Astorg and Epiris. The Financial Times reports the deal – about 21.5 times Euromoney’s EBITDA to September 2021 – is “a relatively high multiple for a private equity offer”. The bid price was 33.5% above Euromoney’s prior per share price. Source: Financial Times Deal size: £1.7bn Country: UK Status: Official |
12 July 2022
Fieldsports Press buys Archant shooting magazines By Andrew Kersley Specialist media publisher Fieldsports Press has bought Archant’s five shooting magazines, meaning the regional publisher has offloaded its entire specialist magazine portfolio. Edinburgh-based Fieldsports Press bought Sporting Shooter, Rifle Shooter, Clay Shooter, Airgunner and Airgun World from Archant Community Media for an undisclosed fee. The Archant teams working on these titles will be transferring across to Fieldsports Press with Dominic Holtam joining as managing director. As a result of the move, Fieldsports Press, which also publishes Fieldsports Journal and Gundog Journal, will now become the biggest publisher in the field sports sector. Archant had previously offloaded six of its specialist magazine titles to Kelsey Media in February before Archant’s acquisition by regional news rival Newsquest. In the aftermath of the deal, Archant sold four of its France-themed magazines to France Media Group, leaving just its shooting titles unsold. Fieldsports Press chief executive Simon Barr said: “These much-loved specialist titles are an incredible fit with our existing portfolio. “We can now offer unrivalled reach to any demographic across the entire field sports sector and have a number of unique titles representing niche communities with highly engaged audiences. “With a roadmap of investment, further acquisitions and new launches, we are deeply committed to a sector we are also active participants in.” Source: Press release Deal size: Undisclosed Country: UK Status: Official |
4 July 2022
Pugpig acquires magazine archive platform Bondi By Andrew Kersley Media publishing platform Pugpig has acquired digital magazine archive Bondi for an undisclosed fee as part of an ongoing US expansion. The Bondi team will be based out of Pugpig’s New York office and will allow the publishing platform to offer its users digital magazine archives as part of its services. UK-based Pugpig’s platform is used by over 350 different brands, from Conde Nast to Tortoise Media, while Bondi Digital already works with the likes of Vanity Fair, Vogue and Esquire. Source: Press release Deal size: Undisclosed Country: UK / US Status: Official |
21 June 2022
Equal Entertainment acquires Pride Media titles LGBTQ+ production company Equal Entertainment has acquired Pride Media, the publisher of Out.com, Pride.com and Out Traveler Magazine. Pride Media will be rebranded as Equal Pride and run by chief executive Mark Berryhill. Berryhill said: “Our combined company will be the premier home for LGBTQ+ people — and increasingly women and people of color creators, storytellers, journalists, and businesspeople who want to have an impact through their work with one of the most diverse group of media and digital brands in the world.” Source: Press release Deal size: Undisclosed Country: US Status: Official |
13 June 2022
GlobalData buys Media Business Insight By Dominic Ponsford Business intelligence giant GlobalData has bought Media Business Insight for an undisclosed sum. MBI brands include: Screen International, Broadcast, The Media Production and Technology Show, ALF, The Knowledge and KFTC. Mike Danson, GlobalData’s CEO, said: “From GlobalData’s point of view, MBI is an excellent strategic fit, it brings new and unique gold standard data sets across the film, TV and media markets to GlobalData.” MBI employs 85 staff and made a pre-tax profit of £17,096 in 2020 on turnover of £6.6m. Source: Screen Daily Deal size: Undisclosed Country: UK Status: Official |
7 June 2022
Haymarket acquires Podcast Awards Ltd By Andrew Kersley B2B publishing giant Haymarket has acquired the Podcast Awards Ltd, the company behind the British Podcast Awards, for an undisclosed sum. Co-founded by Matt Deegan and Matt Hill, the company launched the British Podcast Awards in 2017, before taking on the Australian Podcast Awards in 2019 and setting up the Irish Podcast Awards in 2022. Haymarket will also become a partner in Podcast Day 24, a 24-hour non-stop global podcasting conference launched by Podcast Awards Ltd, with live events that start in Sydney and move to London and then New York. The company plans to launch more events with its new acquisition in 2023. Haymarket owns more than 70 B2B brands, including What Car?, Campaign and PRWeek. Source: Campaign Deal size: Undisclosed Country: UK Status: Official |
1 June 2022
News Corp completes Base Chemicals takeover By William Turvill News Corp has completed its $295m acquisition of S&P Global Market Intelligence’s Base Chemicals business. The business will now operate under the brand Chemical Market Analytics. It will be part of Dow Jones’ OPIS division. S&P Global and IHS Markit were asked to divest of both OPIS (the Oil Price Information Service) and Base Chemicals as part of their merger, which completed in February. Source: Press release Deal size: $295m Country: US Status: Official |
1 June 2022
Forbes officially cancels plan to go public amid ‘deteriorating SPAC market’ By Bron Maher Forbes has formally ended its plan to go public through a merger with a special-purpose acquisition company (SPAC). The business news publisher attributed the move to the bad fortunes of the SPAC market, hinting the deal may not have done credit to Forbes’ underlying value. The company may now explore bids from private buyers. Source: Press Gazette Deal size: $630m Country: US Status: Official |
31 May 2022
Forbes set to call off SPAC deal By William Turvill Forbes Media looks set to call off its deal to enter the public market. The New York Times reports that the business news company could confirm the cancellation of its plan this week. Forbes announced last August that it intended to go public through a merger with Magnum Opus, a special-purpose acquisition company (SPAC). The deal was expected to value the media firm at around $630m. Buzzfeed completed a similar deal last December and has struggled on the stock market this year. Source: The New York Times Deal size: $630m Country: US Status: Report |
31 May 2022
Shutterstock acquires Splash News By Andrew Kersley Photo licencing giant Shutterstock has acquired Splash News, a fellow provider of image and video content for publishers, for an undisclosed sum. Founded in 1990, Splash News has a network of over 4,000 photographers and an archive of over 27 million images focused on some of the biggest celebrity events of the last three decades for customers including E! News, People, Daily Mail, TMZ, Dow Jones, Reach and News UK. Splash News was previously saved from closure in 2018 after its owner Silverhub Media went into administration. Source: Press release Deal size: Undisclosed Country: US Status: Official |
30 May 2022
Digitalbox acquires TVGuide.co.uk for £550,000 By Andrew Kersley Entertainment Daily and The Tab publisher Digitalbox has acquired the web and mobile platform assets of TVGuide.co.uk for a total cash fee that will reach £550,000. A chunk of that fee, which will be paid in instalments, will go towards the platform redevelopment of TVGuide.co.uk so that it can integrate into Digitalbox’s Graphene technology platform. TVGuide will also be renamed Yo.TV as part of the deal, funded using £2.8m of cash already held by Digitalbox. In its full-year results to 31 December 2021, Digitalbox reported revenues had increased by 68% from £2.2m in 2020 to £3.7m. Source: Press release Deal size: £550,000 Country: UK Status: Official |
26 May 2022
Substack abandons fundraising effort By William Turvill Newsletter platform Substack has given up on a plan to raise around $75-100m amid a wider slowdown in investment activity, according to a New York Times report. The NYT reported that the fundraising could have valued Substack at between $750m and $1bn. Source: New York Times Deal size: $750m-$1bn Country: US Status: Official |
20 May 2022
Black Ox Media & Events buys Business & Innovation Magazine By Charlotte Tobitt Black Ox Media & Events has made its second acquisition of a regional business title in under two years. It has bought the five-year-old, bi-monthly Business & Innovation Magazine, which has an audience in Gloucestershire, Worcestershire, Oxfordshire, North Wiltshire, Bristol, Coventry and Warwickshire. In January 2021 it started out by buying The Business Magazine which covers Thames Valley, The Solent and the South East from Elcot Media & Events Limited, and it says it has since invested in the title’s digital output. The company said the new acquisition will allow it to “make further investment in its regional reporting alongside rolling out a comprehensive regional event and conference programme”. Black Ox managing director Richard Thompson said: “We share a common purpose, to promote, connect and inform the regional business community with high-quality journalism and engaging events programmes and experiences.” Source: Press release Deal size: Undisclosed Country: UK Status: Official |
10 May 2022
Future acquires WhoWhatWear By Andrew Kersley Publishing giant Future has acquired digital US women’s lifestyle publisher WhoWhatWear, in a move that will see Future become the 6th largest beauty and fashion publisher in the US. Launched in 2006, WhoWhatWear has 12m monthly users and 10m social media followers. The fee paid by Future to acquire the outlet has not been disclosed. The WhoWhatWear business will continue to be led by president Brianna Mobrem, chief revenue officer Shayna Kossove and chief content officer and co-founder Hillary Kerr. Future chief executive Zillah Byng-Thorne said: “At Future, we’ve built a stable of lifestyle brands that speak to women across the globe around fashion, beauty, and lifestyle. The content we create helps them shape a vision. The proprietary tech we own helps them realise it.” Source: Press release Deal size: Undisclosed Country: UK / US Status: Official |
4 May 2022
Aquila acquires Comosoft By Andrew Kersley Marketing production workflow solutions company Comosoft has been acquired by Aquila, a subsidiary of Canadian company Constellation software for an undisclosed sum. Founded in 1994, Comosoft is a global pioneer in multichannel media and Product Information Management (PIM) systems for B2C and B2B operations, including retailers, grocery chains, manufacturers and marketing agencies. Source: Press release Deal size: Undisclosed Country: Canada Status: Official |
3 May 2022
Decrypt raises $10m and goes independent By William Turvill Cryptocurrency news outlet Decrypt has raised $10m and been spun out of Consensys Mesh, a business incubator, to become an independent media company. Decrypt said the deal, which involves 22 investors, gives the company a value of $50m. The media firm was founded in 2018 inside the Consensys Mesh incubator programme. Today, Decrypt says it has 5m average monthly unique users and 25 full-time employees. Source: Press release Deal size: $10/50m Country: US Status: Official |
29 April 2022
Vice considers selling studio business By William Turvill Vice Media is considering selling its studio business, according to The Information. The digital media giant has reportedly hired bankers from PJT and Liontree to sound out buyers. The Information reports that Vice is coming under pressure to repay investor debts. Source: The Information Deal size: Unknown Country: US Status: Report |
28 April 2022
G/O Media buys Quartz By Charlotte Tobitt The owner of satire news site The Onion, feminist site Jezebel and pop culture site AV Club has bought business news brand Quartz. G/O Media chief executive Jim Spanfeller said Quartz was an attractive brand because its high-quality global business journalism has a good prospect of attracting both subscribers and valuable advertisers, according to the New York Times. Spanefeller was also reported as saying no Quartz employees would be laid off because of the deal. Quartz co-founder and chief executive Zach Seward will stay with the company as general manager and editor-in-chief of Quartz. Quartz’s current editor Katherine Bell is stepping down but will remain in an advisory role. Seward and Bell bought Quartz from its former Japanese owner Uzabase in a management buyout in November 2020. It was not expected to break even this year, according to the NYT. Quartz ditched its paywall earlier this month less than three years after it put up a metered paywall on its site. It will keep some paid products, such as its Quartz Africa offering. Source: New York Times Deal size: Undisclosed Country: US Status: Official |
26 April 2022
Elon Musk Twitter bid accepted By Andrew Kersley The world’s richest man Elon Musk has reached a $44bn (£35bn) deal to buy Twitter and take the company private in a move that will give the tech billionaire control of a social network with more than 200 million users. In a statement posted to Twitter, Musk said: “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated.” He added: “Twitter has tremendous potential – I look forward to working with the company and users to unlock it.” The Tesla and Space X chief executive has frequently criticised Twitter for not fulfilling its role as a platform for “free speech”. In a meeting with staff after the deal was agreed Twitter chief executive Parag Agrawal said: “Once the deal closes, we don’t know which direction the platform will go.” Source: The Guardian Deal size: $44bn Country: US Status: Official |
26 April 2022
News start-up Informed raises $5.4m, recruits ex-FT and Economist editors By Andrew Kersley Berlin-based news start-up Informed has raised a total of $5.4m (£4.3m) in seed funding ahead of a planned launch later this year. Founded in January 2021, Informed is building an app that offers paying users a feed of “human-curated content” from different publishers in an effort to appeal to those who would rather access content from a mix of outlets than a single publication. Ex-FT editor Lionel Barber and ex-Economist editor-in-chief Bill Emmott have also joined the advisory board of Informed. Source: Bloomberg Deal size: $5.4m Country: Germany Status: Official |
14 April 2022
Elon Musk bid for Twitter Tech billionaire Elon Musk has offer $43.4bn to take Twitter private. He said in a filing to the US SEC: “I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy. “However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company. “As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder. “Twitter has extraordinary potential. I will unlock it. Source: SEC Deal size: $43.4bn Country: US Status: Announced |
12 April 2022
Bonhill Group raises £1.1m and replaces chief executive By Andrew Kersley London-based information, events and data analytics company Bonhill Group has raised £1.1m through the issuing of share capital. Bonhill chief executive Simon Stilwell has also resigned with immediate effect, to be replaced by the company’s managing director Patrick Ponsford as interim chief executive. Non-executive chair Jonathan Glasspool also becomes interim executive chair until a permanent chief executive is appointed. Bonhill Group expects revenue of £16.4m in 2021 (lower than the £17.8m registered in 2020) and earnings before interest, tax, depreciation and amortisation are expected to break even. Source: Bonhill Deal size: £1.1m Country: UK Status: Official |
8 April 2022
France Media Group buys four Archant magazine brands By Charlotte Tobitt Four Archant magazine brands that were left out of the publisher’s recent takeover by Newsquest have been bought by Bath-based France Media Group: France Magazine, French Property News, Complete France, France Property Shop and their related exhibition brands. France Media Group’s founder and editor–in–chief Guy Hibbert said: “The business I started as a hobby twenty years ago has enjoyed continued growth thanks to focussing on our passion and enthusiasm for French culture, property and lifestyle. We have acquired a number of titles along the way and this latest acquisition not only extends our audience reach but also consolidates France Media Group’s position as the leading international publisher of content for Francophiles.” Archant’s chief executive Lorna Willis said: “These titles have a natural home within France Media Group where they will continue to prosper and thrive under the direction of a passionate and dedicated team committed to providing Francophiles with the highest quality content.” France Media Group’s existing magazine brands include Taste of France and France Today. Deal size: Unknown Country: France Status: Official |
6 April 2022
Incisive Media split up and sold By Dominic Ponsford UK B2B events and information group Incisive Media is being split up and sold to two companies funded by US private equity firm Eagletree. Full story here. Source: Press release Deal size: Unknown Country: UK Status: Official |
5 April 2022
O’Rourke Media Group acquires the Sussex Printing Corporation By Andrew Kersley US digital agency and regional publisher O’Rourke Media Group has acquired The Sussex Printing Corporation for an undisclosed sum. The transaction includes Sussex Printing’s advertising titles, including The Guide. Sussex Printing was formed over 60 years ago and is both a printer and a regional distributor of advertisements and classifieds. O’Rourke Media Group has kept all 50 current Sussex Printing employees. O’Rourke Media Group currently operates in six US states with a full-service digital agency and 23 publications and hyperlocal websites. Source: Press release Deal size: Unknown Country: US Status: Official |
31 March 2022
Axios buys SF Minute newsletter By William Turvill Axios has announced the acquisition of SF Minute, a Substack title that covers local news in San Francisco. SF Minute will be rebranded as Axios San Francisco and becomes part of the company’s growing local newsletter business. SF Minute was founded in 2020 by editor Nick Bastone. He will now be a co-author of Axios San Francisco. Source: Axios Deal size: Unknown Country: US Status: Official |
30 March 2022
Axel Springer acquires majority stake in World.Minds By Andrew Kersley German publisher Axel Springer has acquired a majority stake in the Swiss-based community-building company World.Minds for an undisclosed sum, with plans to expand it beyond Switzerland. Founded in Zurich in 2008, World.Minds is an exclusive, invitation-only community of more than 1,000 leaders in science, arts, government and business, which hosts events to facilitate exchanges between different groups. Christoph Keese, managing partner and chief executive of the Axel Springer Consulting Group, has become the co-managing director at World.Minds, alongside founder Rolf Dobelli. Source: Axel Springer Deal size: Unknown Country: Germany/Switzerland Status: Official |
30 March 2022
Private equity firms buy Nielsen in $16bn deal By Andrew Kersley Media measurement company Nielsen has agreed to sell itself to a group of private equity firms led by Elliott Management and Brookfield Asset Management in a deal that values the company at $1obn, according to the Wall Street Journal. The private equity buyers agreed to pay $28 a share for the company, or $16bn total including debt, in one of the largest media deals of the year so far. The deal includes a 45-day go-shop period during which Nielsen can solicit bids from other parties. Nielsen measures US television ratings, which provide audience estimates on shows that TV networks use to sell ad time. Its influence has been impacted by the continued growth of streaming giants over traditional TV. Source: Wall Street Journal Deal size: $16bn Country: US Status: Official |
24 March 2022
Future acquires WhatCulture.com and Waive By Andrew Kersley Magazine publisher Future has acquired digital gaming and entertainment outlet WhatCulture.com and data insight platform Waive for an undisclosed sum. The move marks the continuation of an aggressive acquisition policy from Future that has seen the company buy magazine publisher Dennis for £300m and publisher TI Media for £140m. WhatCulture’s website and 11 Youtube channels respectively have three million users and over eight million subscribers, and roughly 70% of its revenue is from the US. Waive is a data insight platform that provides intelligence on emerging content trends. Source: Future Deal size: Unknown Country: UK Status: Official |
24 March 2022
Newsquest says Archant titles will have ‘much more secure future’ after sale, but staff fear cuts By Andrew Kersley Newsquest has insisted it will give Archant’s news brands a “much more secure future” as staff expressed concerns of more “internal upheaval” to come. Archant reporters expressed concerns that the move could lead to redundancies and a rise in page view targets for reporters, with one suggesting that Newsquest “does not care about journalists or journalism”. Press Gazette can also reveal that the deal did not include eight of Archant’s specialist magazine titles: Air Gunner, Airgun World, Sporting Shooter, Clay Shooter, Rifle Shooter, France Magazine, French Property News and France Property Shop. They are now undergoing a sales process directed by Rcapital, the private equity owner that bought Archant in 2020. Several specialist titles had already been offloaded to Kelsey Media last month. Source: Press Gazette Deal size: N/A Country: UK Status: Official |
22 March 2022
Recurrent Ventures acquires Business of Home By Andrew Kersley Digital media company Recurrent Ventures has acquired Business of Home, a digital and print publication for home and interior design enthusiasts. Business of Home is the first B2B title acquired by Recurrent, which currently has a portfolio of more than 20 digital media outlets spanning home, lifestyle, military, outdoor, science and tech. It raised $75m in funding in October to continue buying distressed assets, often in print, that it can revive as digital brands. Business of Home was founded by Julia Noran Johnston in 2009 as a high-end media brand for industry interior design professionals. It currently employs 11 people, while its annual conference, Future of Home, is one of the biggest interior designs events in the US. Noran Johnston will remain as the head of Business of Home and continue to oversee the brand’s day-to-day operations alongside the outlet’s editor-in-chief Kaitlin Petersen. Source: Axios Deal size: Unknown Country: US Status: Official |
18 March 2022
Newsquest buys rival regional publisher Archant By Andrew Kersley The UK’s second biggest regional publisher Newsquest has bought Archant, the fourth largest in the market, for an undisclosed fee. Archant was previously acquired by private equity firm Rcapital in September 2020. Archant owns more than 100 magazine and news brands around the UK, principally in East Anglia. Press Gazette understands the Competition and Markets Authority is not currently looking into the merger. Newsquest currently publishes 205 titles, including the Northern Echo, Brighton Argus and Scottish outlet The National, and is ultimately owned by US media giant Gannett. Source: Press Gazette Deal size: Unknown Country: UK Status: Official |
11 March 2022
Podcast start-up Kaleidoscope raises $3.5m in funding By Andrew Kersley Podcast start-up Kaleidoscope has raised $3.5m for seed funding led by North Base Media. Participating investors are The Raine Group, former MTV Networks CEO Tom Freston, former Cosmopolitan editor Joanna Coles, author and creator John Green, Nimble Ventures partner John Burbank, Moby Media Group CEO Saad Mohseni and TPG Capital’s Dirk Eller. The channel has singed a six-show deal with iHeart, with four podcasts expected to arrive by this fall. Source: Axios Deal size: Unknown Country: UK Status: Official |
28 February 2022
Footballco acquires long-form magazine Mundial By Andrew Kersley Football media company Footballco has acquired Mundial studio, creators of Mundial print magazine and the Giant podcast. The long-form Mundial magazine is known for being fan-centric and offering coverage of issues not always covered by the mainstream football media, like the intersection between sport and culture. The group also runs a successful e-commerce business, selling Mundial merchandise, books, clothing and gifts. Launched in 2014, publication of the Mundial print magazine ceased when the pandemic hit but the new deal means the publishers said the magazine will return to print in June in time for the Women’s Euro 2022 competition. Footballco owns brands including Goal, Spox, Voetbalzone, Calciomercato and Player (a sports in-stream video player). Source: Press release Deal size: Unknown Country: UK Status: Official |
18 February 2022
Canadian publisher Postmedia buys New Brunswick titles By William Turvill Canada’s Postmedia Network has agreed a deal to buy local publisher Brunswick News Inc (BNI) from JD Irving Ltd. Postmedia, which already owns the National Post, Vancouver Sun and Calgary Herald, has agreed to pay CA$7.5m in cash and CA$8.6m in shares. BNI publishes several daily and weekly newspapers in the Canadian province of New Brunswick, including the Telegraph-Journal, Times Globe and the Daily Gleaner. “Postmedia believes that BNI’s Eastern Canada operations are highly complementary to our existing business and strongly align with our strategic priorities,” said Andrew MacLeod, president and chief executive of Postmedia. “These titles have a proud history of providing excellent journalism across New Brunswick and we look forward to continuing that legacy. The addition of BNI brands allows Postmedia to serve audiences and marketers from the Pacific to the Atlantic while we continue to build out a national distribution platform and network for our parcel delivery business.” Source: Press release Deal size: CA$16m Country: Canada Status: Official |
18 February 2022 Media Business Insights acquires Rapid TV News By Andrew Kersley Private-equity owned publisher Media Business Insights (MBI) has acquired Rapid TV News, a leading online daily news service for the international broadcast and streaming industry. It reports a sign-up base of more than 25,000 to its website and newsletters. MBI currently publishes Broadcast International and Screen International, news sites that cover the TV and film industries respectively, and reports annual revenue of some £11m. Rapid TV News launched in 2007 and covers broadcast technology, information and analysis in the global TV market. It also publishes the Rapid TV Everywhere digital magazine. Source: Press release Deal size: Undisclosed Country: UK Status: Official |
16 February 2022 Spotify buys two podtech businesses By William Turvill Music streaming giant Spotify has announced the acquisitions of Podsights and Chartable to enhance its podcast business. Podsights is a podcast advertising measurement service, and Chartable is a podcast analytics platform. Announcing the deals today, Spotify noted eMarketer forecasts that say the podcast advertising market will be worth $2.7bn by 2025. The company said: “We believe the next step to unlocking this growth is demonstrating audio advertising’s impact through innovations in measurement and attribution for advertisers and audience insights for publishers.” Source: Press release Deal size: Undisclosed Country: Sweden/US Status: Official |
10 February 2022
Informa to sell Pharma Intelligence for £1.9bn to Warburg Pincus By Andrew Kersley International B2B and business intelligence group Informa has announced the sale of its Pharma Intelligence operation to private equity firm Warburg Pincus for a fee totalling £1.9bn. A leading provider of specialist intelligence and data for clinical trials, drug development and regulatory compliance, Pharma Intelligence accounted for 40% of the £305m revenues reported for the company’s Informa Intelligence division in 2020. Informa will retain a 15% stake in the business going forward and has also announced plans for a new round of share buybacks. Source: Informa Deal value: £1.9bn Country: UK Status: Announced |
10 February 2022
Forbes nets $200m in funding from crypto giant Binance By Andrew Kersley Business information brand Forbes has received a $200m strategic investment from cryptocurrency giant Binance. Forbes previously announced plans to pursue a business combination that would allow the company to become publicly traded on the New York Stock Exchange under the symbol “FRBS”. The $200m will allow Binance to assume $200m worth of commitments in a previously announced $400 million private investment in public equity (“PIPE”) that forms part of its NYSE-listing aims. Source: Forbes Deal value: $200m Country: US Status: Official |
9 February 2022
Archant sells specialist magazine titles By Andrew Kersley Local news publisher Archant has offloaded several specialist brands to Kelsey Media ahead of an expected sale by its private equity owner. The Norfolk-based publisher has sold the magazines Agricultural Trader, Country Smallholding, Canal Boat, The Tillergraph and Pilot, plus general aviation website UKGA, leaving the group with fewer than ten specialist magazines. Kelsey Media has bought the likes of World Soccer and Amateur Photographer from Future and gadget magazine Stuff from Haymarket in recent years. It closed around ten magazines towards the start of the Covid-19 pandemic. It comes amid reports that private equity firm Rcapital has put Archant up for sale after 18 months of ownership. Source: Press Gazette Deal value: Unknown Country: UK Status: Official |
27 January 2022
New York Times purchases viral puzzle game Wordle By Andrew Kersley The New York Times has purchased the viral puzzle game Wordle from creator Josh Wardle for an undisclosed sum “in the low seven figures”. The game will become part of the publication’s growing puzzle section, which Wardle previously said was one of the inspirations behind him creating the game himself. The free-to-play web game has gone viral in recent months after its launch in October, seeing millions playing it daily. The company did not confirm if the game would remain free in the long-term however, saying only that it would “initially remain free to new and existing players”. The move follows the NYT’s acquisition of sports publication The Athletic for $550m last month. Source: NYT Deal value: Low $1ms Country: US Status: Official |
27 January 2022
Tortoise raises £10m in series A funding round By Andrew Kersley “Slow news” start-up Tortoise has secured £10m of new funding to invest in audio journalism, events and growing its membership revenue. The largest investor in the series A funding deal was investment management company Lansdowne Partners. It will now become a significant shareholder in Tortoise alongside Thomson Reuters chair David Thomson’s investment firm Woodbridge, one of the largest investors in the group’s initial seed round in 2018. Press Gazette understands the outlet has grown its paid membership to 55,000 since its full launch in 2019, marking a 5,000 increase in paid membership since October last year. In its latest published accounts, for the year to December 2020, Tortoise recorded a total loss to date of £8.5m compared to a loss to date of £5.4m in 2019. Source: Press Gazette Deal value: £10m Country: UK Status: Official |
21 January 2022
A360 Media acquires Bauer Media’s US publishing business By Andrew Kersley A360 Media has announced that it is purchasing the entirety of Bauer Media’s remaining US publishing business, comprising of Woman’s World, First for Women and a specialist bookazine business that produces more than 100 special interest publications per year. The deal is expected to close in February. A360 Media, part of Accelerate360, operates an array of celebrity and health and wellbeing publications. The move marks Bauer’s total withdrawal from the US market after 40 years in the country. The company says it now plans to focus on European investments in the fields of publishing, audio, online comparison platforms and digital services in the SME sector. Bauer Media runs some 600 magazines and 400 digital products largely in the B2B and B2C media spaces. It reports having a workforce of 15,000. Source: PR Newswire Deal value: Undisclosed Country: US Status: Official |
20 January 2022
WBEZ Chicago to acquire Chicago Sun-Times By Andrew Kersley NPR-affiliated radio station WBEZ Chicago has agreed a deal to acquire city tabloid the Chicago Sun-Times. The deal, expected to close on 31 January, will see the Sun-Times, once famous for its anti-corruption investigations, join WBEZ as a not-for-profit subsidiary of Chicago Public Media. The Chicago Sun-Times will get its own non-profit board, filled with members of the Chicago Public Media team, as well as several independent members including Aretae Ortiz Wyler, chief operating officer of The Atlantic. Both outlets will maintain their independent newsrooms, offices and editorial independence, and receive new executive editors, roles currently not present at either organisation – although they will share some content. Source: WBEZ Chicago Deal value: Undisclosed Country: US Status: Official |
18 January 2022
Arena Group to acquire Parade publisher for $16m By William Turvill The Arena Group, which owns brands including Sports Illustrated and TheStreet, has announced a $16m deal to buy the publisher of Parade magazine. Arena’s acquisition of AMG/Parade comes days after the company unveiled plans to ‘uplist’ its shares to the New York Stock Exchange from the smaller OTCQX. In a press release announcing the AMG/Parade deal, Arena (formerly known as Maven) revealed that it generated record revenues of more than $180m in 2021, up 41% on the previous year. Source: Press release Deal value: $16m Country: US Status: Official |
13 January 2022
The Claverley Group acquires HPCi Media By Andrew Kersley The Claverley Group, publisher of the Express and Star, the Shropshire Star and the Jersey Evening Post, has acquired London-based HPCi Media. Claverley spent an undisclosed sum on the specialist media publisher, which focuses on the beauty, wellness and health industries with titles such as Cosmetics Business and Pure Beauty. It is the third acquisition made by the Wolverhampton-based company since those of children’s magazine publisher Kennedy and creative design and print management business Cubiquity in 2018. The Express and Star, one of Britain’s biggest-selling regional papers, has an average circulation of 19,683 according to ABC. Source: Express and Star Deal value: Undisclosed Country: UK Status: Official |
12 January 2022
Arena Group lists on NYSE By Andrew Kersley The Arena Group, the publisher behind brands like Sports Illustrated and TheStreet, has announced plans to uplist its shares to the New York Stock Exchange from the smaller OTCQX. At the same time, the company is planning a reverse stock split of its common stock and to officially change its name to The Arena Group Holdings Inc (it was previously known as theMaven Inc) Sports Illustrated had an average circulation of 1,740,546 in the first half of 2021, making it one of the top 20 most read magazines in the US. Source: Press release Deal value: N/A Country: US Status: Official |
10 January 2022
Times Higher Education acquires Inside Higher Education By Andrew Kersley Times Higher Education (THE) has acquired Inside Higher Education, a US provider of news and analysis for the higher education sector. The two combined brands will now have a total audience of over 50 million unique site visitors per year, THE said. It follows the acquisition of THE itself by Inflexion Private Equity in February 2019 following sustained growth in recent years. Inside Higher Education will continue to operate independently but the two outlets will pool resources to give an “unrivalled reach across the world’s key higher education markets”. Source: Press release Deal value: Undisclosed Country: UK / US Status: Official |
7 January 2022
Metropolis Group acquires Viz, Cyclist and Fortean Times By Andrew Kersley B2B publisher Metropolis has acquired magazines Viz, Cyclist and Fortean Times from Broadleaf Group for an undisclosed sum. Adult satire magazine Viz has been running for 42 years and is known for its trademark style of parody and profanity. Cyclist is a world-leading road cycling media brand, while Fortean Times is a monthly magazine of news, reviews and research on strange and paranormal phenomena. The three titles will bring a total of 72,000 magazine readers to the Metropolis group’s already sizeable collection of brands which include Nursing Times, Property Week and Architects’ Journal. Founded in 1994, the media owner has more than 400 staff across 40 brands. Source: Press release Deal value: Undisclosed Country: UK Status: Official |
6 January 2022
Report: New York Times agrees $550m deal to buy the Athletic By William Turvill The New York Times has agreed to buy sports news website the Athletic for around $550m, according to the Information. It was first reported last month that the NYT had entered exclusive talks with the subscription-funded Athletic (see below on this page). The Information previously reported that the Athletic was seeking to sell itself for more than $750m. The New York Times and the Athletic are two of the top five subscription news businesses in the world, according to Press Gazette’s latest 100k Club ranking. The Times last reported having 7.6m digital-only subscribers, while the Athletic is reported to have around 1.2m. Source: The Information Deal value: $550m Country: US Status: Report |
6 January 2022
Emerald Holding acquires cannabis industry B2B platform MJBiz By Andrew Kersley B2B trade show organiser and media conglomerate Emerald Holding has announced it has finalised its acquisition of MJBiz, a leading B2B content and event producer for the cannabis industry, for an initial fee of $120m. MJBiz reported revenues of $27m in 2021, which it says is similar to its pre-pandemic levels, and delivered 38% compound annual revenue growth in the three years prior to Covid-19. The outlet’s senior management, including chief executive Chris Walsh, will continue to lead the day-to-day operations of MJBiz, while co-founders and board members Cassandra Farrington and Anne Holland will continue to consult with the business. The initial $120m fee is set to rise by an undisclosed amount depending on the performance of MJBiz during 2022. Source: Press release Deal value: $120m Country: US Status: Official |
27 December 2021
News Corp buys Base Chemicals from S&P Global and IHS Markit By William Turvill News Corp has announced the acquisition of the Base Chemicals business of S&P Global and IHS Markit for $295m. Base Chemicals, which was expected to generate revenues of $65m last year, will become a part of News Corp’s financial information and news division, Dow Jones. The deal comes after News Corp agreed to buy Oil Price Information Services (OPIS) from S&P Global and IHS Markit for $1.15bn in August 2021 (see below on this page). S&P Global and IHS Markit agreed to a $44bn merger deal in late 2020. The sales of both OPIS and Base Chemicals have been agreed to satisfy antitrust/competition regulators. Source: Press release Deal value: $295m Country: US Status: Official |
21 December 2021
Investment firm lines up Forbes bid By William Turvill Asset management firm GSV is lining up a $620m takeover bid for Forbes Media, according to an Axios report. Business news company Forbes is due to list on the stock market in early 2022 through a merger with a special-purpose acquisition company (SPAC). But GSV, in partnership with other institutional investors and family officers, wants to derail that process, according to the Axios report. Source: Axios Deal value: $620m Country: US Status: Report |
17 December 2021 New York Times in exclusive talks to acquire the Athletic By William Turvill The New York Times is in exclusive talks to acquire digital sports news business the Athletic, according to Puck. The Athletic, which claims to have 1.2m paid subscribers, has reportedly been seeking a buyer for much of 2021 and had previously been linked with the NYT as well as Axios (scroll down this page for more). The Information reported that its previous negotiations with the NYT had broken down in June. In September, the Information reported that the Athletic had hired bankers to find a buyer willing to pay more than $750m. Earlier this week, Front Office Sports reported that the New York Times was interested again. And today Puck says that the two companies are in exclusive talks. Source: Puck Deal value: $750m? Country: US Status: Report |
16 December 2021
Lord Rothermere wins shareholder approval to take DMGT private for £2.4bn By William Turvill Lord Rothermere has succeeded in his bid to take full control of Daily Mail publisher DMGT, which will be delisted from the London Stock Exchange. The company today announced that investors representing 63% of DMGT shares have now voted in favour of the deal, meaning it has passed the necessary acceptance threshold. Press Gazette estimates that the takeover deal is worth around £2.4bn, although the total value varies according to the share price of Cazoo – because part of the Rothermere payment is made up of stock in the US-listed online car retailer – and currency movements. Source: Press Gazette Deal value: £2.4bn Country: UK Status: Announced |
15 December 2021
Alden sues Lee Enterprises after takeover snub By William Turvill Hedge fund Alden Global Capital has filed a lawsuit against Lee Enterprises after the local news company rejected an unsolicited takeover offer last week (scroll down this page for more details). Axios reports that an affiliate of Alden is suing Lee, claiming that it broke company bylaws when it denied an Alden request to nominate three directors for election to its board. According to Axios, Alden is asking a court to allow the nominees to stand for election. Lee says that Alden’s nomination was “clearly invalid”. If Alden is able to insert directors on to Lee’s board, it would be a boost for the hedge fund’s efforts to acquire the local news publisher. The hedge fund, which completed a controversial takeover of Tribune Publishing earlier this year, made a $24-per-share offer for Lee last month. Source: Axios Deal value: $142m Country: US Status: Report |
15 December 2021
LadBible owner’s shares jump on stock market debut By William Turvill The 30-year-old founder of LadBible has a net worth of more than £200m after his business listed on the London Stock Exchange today. Alexander (Solly) Solomou made £50m in cash from share sales today, and he retains a 42% stake in the listed LBG Media. LBG, which operates several youth-orientated media brands including SportBible, UNILAD and GamingBible, completed its initial public offering (IPO) on the LSE’s Alternative Investment Market (Aim) this morning. Its shares listed at £1.75, valuing the company at £360m. By the end of the day, LBG’s share price had risen to £2, and the company’s market capitalisation was around £411m. Source: Press Gazette Deal value: £411m Country: UK Status: Official |
13 December 2021
Vox Media to merge with Group Nine By William Turvill Digital news publishers Vox Media and Group Nine Media have agreed to a merger. Vox said it had acquired Group Nine this evening, hours after the Wall Street Journal reported that they were in advanced talks. The combined group will be led by chief executive and chairman Jim Bankoff, a co-founder of Vox. Group Nine’s founder and CEO Ben Lerer will join the board of Vox Media. Source: Press release Deal value: Unknown Country: US Status: Official |
9 December 2021
Lee Enterprises rejects Alden’s takeover offer By William Turvill The board of Lee Enterprises has rejected a $140m takeover offer from Alden Global Capital, saying the proposal “grossly undervalues” the business. Alden, a hedge fund that already owns Tribune Publishing and MediaNews Group, announced its $24-per-share offer on 22 November (see full coverage below). “The Alden proposal grossly undervalues Lee and fails to recognize the strength of our business today, as the fastest-growing digital subscription platform in local media, and our compelling future prospects,” Lee chairman Mary Junck said in a statement today. “We remain confident in our ability to create significant value as an independent company and are focused on our Three Pillar Digital Growth Strategy, detailed earlier this year. We have demonstrated accelerating momentum across our platforms as we execute our plan.” Separately, Lee – which had local news brands in more than 70 US markets – reported its fourth-quarter results today. The company now reports having 402,000 digital-only subscribers, up from 337,000 in June. Source: Statement Deal value: $142m Country: US Status: Official |
6 December 2021
Buzzfeed shares drop 11% on first day of trading By William Turvill Buzzfeed today completed its long-anticipated stock market listing. The digital media company is trading on the Nasdaq exchange under the ticker, BZFD. The listing – made through a merger with 890 Fifth Avenue Partners, a special-purpose acquisition company (SPAC) – didn’t quite go as planned. On Friday last week, it emerged that Buzzfeed had raised less money than expected from the deal ($16m rather than $250m after a flurry of investor withdrawals). Today, as it entered the Nasdaq, Buzzfeed’s shares initially jumped up to 50%. But when the market closed, they were down around 11% at $8.56. Buzzfeed co-founder and chief executive Jonah Peretti spoke to CNBC as the company listed this morning (see video below). Source: Various Country: US Status: Official |
3 December 2021
Lee rejects Alden’s ‘invalid’ board nominations By William Turvill Alden Global Capital has been rebuffed in its attempts to nominate three directors to the board of Lee Enterprises, the local news business it wants to acquire. In a statement today, Lee said that Alden’s proposal – to have the directors voted on by shareholders at its annual meeting – “did not meet several essential requirements” of its company bylaws and is therefore “invalid”. Lee said in a statement: “Alden’s hasty and convoluted attempt to work around our simple and common procedure on the eve of the nomination deadline does not meet the clear requirements of Lee’s bylaws. Alden’s failure is entirely of its own making. Alden is not entitled to invent its own process for its convenience.” Alden is in the process of attempting to buy Lee Enterprises. The hedge fund, which already owns Tribune Publishing and MediaNews Group, announced a bid worth roughly $140m last week. Lee responded defensively by enacting a shareholder rights plan that prevents Alden from building up a stake of more than 10% in the business for one year. (Scroll down this page for previous developments in this story.) Source: Statement Deal value: $142m Country: US Status: Official |
2 December 2021
Lord Rothermere ups offer to take Mail, Metro and i publisher DMGT private By Charlotte Tobitt Lord Rothermere has increased his offer to take DMGT private after some investors felt he was undervaluing the business. He has upped the offer by 5.9%, taking it to 270p per share from 255p per share. Majedie Asset Management, which has a 4.6% stake, had urged shareholders not to accept the offer as it was “substantially below what we believe is a fair and reasonable valuation”. Meanwhile JO Hambro Capital Management, which owns about 3% of DMGT shares, had said it was “underwhelmed and unconvinced” by the proposal. Source: Press Gazette Country: UK Status: Announced |
1 December 2021
Ladbible targets stock market valuation of £360m By Charlotte Tobitt Ladbible, which is preparing to go public, is targeting a valuation of £360m according to Sky News. Sky reported it is likely to raise £30m from selling new shares, with £80m of shares being sold by existing investors including co-founder Solly Solomou. Source: Sky News Deal value: $360m Country: UK Status: Unofficial |
29 November 2021
Lee Enterprises unions warn against dealing with Alden By William Turvill A group of Lee Enterprises unions has urged the company to “reject any present and future” takeover offers made by hedge fund Alden Global Capital. Alden, which completed its controversial acquisition of Tribune Publishing earlier this year, last week made an unsolicited bid for Lee, which publishes news titles including the Omaha World-Herald and St Loius Post-Dispatch. Lee responded defensively by enacting a shareholder rights plan. This prevents Alden from acquiring more than 10% of the company while Lee’s board considers the offer. Today, 12 unionised Lee Enterprises newsrooms wrote to the company board highlighting Alden’s track record in the news industry and demanding that no deal be struck. “They will take this proud company, built over decades of hard work, and leave it in ashes,” they said. “Thousands of us will lose our jobs, and the communities we service will never recover. Cities with weakened or shuttered newspapers have lower voter turnout, higher taxes, more corruption and increased polarization. Our democracy suffers, and Alden reaps the rewards.” Source: Statement Deal value: $142m Country: US Status: Official |
24 November 2021 Lee Enterprises responds to Alden bid with ‘poison pill’ move By William Turvill Local news publisher Lee Enterprises has responded defensively to Alden Global Capital’s takeover proposal. Following Alden’s unsolicited $142m offer on Monday, the board of Lee Enterprises today said it had enacted a shareholder rights plan. Known to financiers as a “poison pill”, the move effectively blocks Alden from acquiring more than 10% of Lee’s shares while the company considers its offer. The plan expires in one year. Lee’s chairman, Mary Junck, said the decision had been taken to “ensure our shareholders receive fair treatment, full transparency and protection in connection with Alden’s unsolicited proposal to acquire Lee. “This rights plan will provide Lee’s board and our shareholders with the time needed to properly assess the acquisition proposal without undue pressure while also safeguarding shareholders’ opportunity to realize the long-term value of their investment in Lee.” In adopting the rights plan, Lee’s board said it had “noted Alden’s track record of rapidly acquiring substantial control or ‘negative control’ positions in other public companies”. Alden published a letter to Lee’s board announcing its takeover offer on Monday. In the letter, Alden said an “affiliated entity of ours owns approximately 6%” of Lee already. This appears to have come as a surprise to Lee’s board, which today highlighted Alden’s “seemingly inconsistent disclosures on its Schedule 13Ds and Form 13Fs filed with the U.S. Securities and Exchange Commission (“SEC”) regarding its purported ownership of Lee’s shares”. Source: Press release Deal value: $142m Country: US Status: Official |
22 November 2021
Alden announces bid for Lee Enterprises By William Turvill Alden Global Capital, the hedge fund owner of Tribune Publishing, has made a $142m bid for US local media group Lee Enterprises. The firm published a letter to Lee’s board of directors on Monday morning explaining why the offer would leave the company in a “stronger position”. Lee Enterprises operates news, information and advertising businesses across 77 US markets. Its titles include the Arizona Daily Sun, the St Louis Post-Dispatch and the Buffalo News. Source: Press Gazette Deal value: $142m Country: US Status: Announced |
22 November 2021
By Andrew Kersley Financial Times-backed website Sifted, which covers the world of European start-ups, has raised £4m of investment funding for a 25% stake. Sifted was launched in January 2019 by FT innovation editor John Thornhill and start-up entrepreneur Caspar Woolley with the aim of reaching a younger generation of European entrepreneurs. The deal means ScaleUp Capital is now the largest shareholder in Sifted with a 25% stake. Source: Press Gazette Deal value: £4m Country: UK Status: Announced |
16 November 2021 Medium acquires Knowable By William Turvill Blogging platform Medium has announced the acquisition of Knowable, an audio-learning tool. In a blog post announcing the deal, Medium chief executive Ev Williams said the platforms would be “collaborating closely to help more people spread great ideas across text and audio”. The deal comes after Medium last week announced the acquisition of Projector, a graphic design platform (see below) Source: Press release Deal value: Undisclosed Country: US Status: Announced |
16 November 2021 Vox Media acquires podcast studio By William Turvill Vox Media, the publisher of Vox, Recode and New York magazine, has acquired podcast studio Criminal Productions for an undisclosed sum. Source: Deadline Deal value: Undisclosed Country: US Status: Announced |
15 November 2021 Minute Media buys Israeli audience growth business By William Turvill Minute Media, a US tech and digital content company, has announced the acquisition of Wazimo, an Israel-based firm that specialises in growing and monetising audiences. Minute Media operates Voltax, a video and multimedia publishing platform, and also owns brands including the Players’ Tribune, FanSided, 90min, DBLTAP, Mental Floss and the Big Lead. In a press release, Minute Media said the deal “will enhance Minute Media’s Voltax platform by adding more robust data and business intelligence products and services with an emphasis on first-party data”. Source: Press release Deal size: Undisclosed Country: US/Israel Status: Announced |
9 November 2021 Medium acquires graphic design platform By William Turvill Blog platform Medium has announced the acquisition of Projector, a graphic design tool. The deal will see Projector’s entire team join Medium. Co-founder and chief executive Trevor O’Brien becomes Medium’s chief product officer. Source: Press release Deal value: Unknown Country: US Status: Official |
9 November 2021
By William Turvill OpenWeb, a tool that helps publishers manage comments, has raised $150m from companies including the New York Times and Samsung Next, Axios reports. The series E funding round reportedly values the company at $1.1bn. Chief executive Nadav Shoval told Axios that the money would be used to build more services to help publishers establish direct relationships with readers. Source: Axios Value: $150m Country: US Status: Official |
3 November 2021 Lord Rothermere and DMGT agree buyout deal By Charlotte Tobitt Lord Rothermere has agreed an £850m takeover plan with the company that publishes the Daily Mail and Mail on Sunday in a move that will see the group taken private after nearly a century on the stock market. Majority shareholder Lord Rothermere has agreed to pay 255p a share for Daily Mail and General Trust (DMGT) plus debts, up from an £810 million or 251p a share proposal first made in July. Shareholders will also receive a special dividend worth 991p for each DMGT share following the recent stock market listing of used car business Cazoo, which DMGT had a stake in, and the sale of its insurance division RMS. DMGT investors will also receive a final dividend worth 17.3p a share, with DMGT saying the total value of the offer and investor payouts comes to £12.63 a share – or just over £3 billion including debts. Source: DMGT Value: The deal puts DMGT at £850m. The total value of the offer and investor payouts comes to £12.63 a share – or just over £3 billion including debts. Country: UK Status: Official |
2 November 2021 Axios valued at $430m after new investment By William Turvill Digital news business Axios has said it now has a value of $430m following an investment from Cox Enterprises. Axios, launched in January 2017 and best known for its suite of free specialist newsletters, expects to generate revenues of around $85m this year, up from approximately $60m in 2020. It was reported earlier this year that German publishing giant Axel Springer was in talks to acquire Axios. In August, Axel Springer announced a deal to buy Politico, a Washington rival of Axios. Axios was also linked to a merger deal with the Athletic, but these talks were reported to have broken down in May. The details of Cox Enterprises’ series D funding round were announced to staffers on Monday and reported by Axios today. Source: Axios Value: $430m Country: US Status: Official |
1 November 2021
The Athletic attracts bids from sports betting firms By William Turvill The Athletic has attracted takeover bids from sports betting companies FanDuel and DraftKings, according to the Information. The American subscription sports news site reportedly hired bankers from LionTree to explore a sale earlier this year (see report below) after talks with both the New York Times and Axios broke down. According to the Information, the Athletic wants to sell itself at a value of more than $750m. Source: The Information Deal size: $750m Country: US Status: Report |
1 November 2021
Lord Rothermere nears deal to take DMGT private By William Turvill Lord Rothermere is said to be close to tying up his deal to take full control of Daily Mail and General Trust. Sky News reports that Rothermere Continuation Limited (RCL) is on the verge of agreeing a £400m deal with the trustees of DMGT’s three pension schemes to ensure their protection. Sky News described this as the “final obstacle to taking the group private” and said the development could be announced within days. The Rothermere family is already the largest shareholder of DMGT, which owns the Daily Mail, Mail on Sunday, Mail Online, Metro and the i newspaper. It was first announced in July that they were considering an £810m deal to take the company private. Source: Sky News Deal size: £810m Country: UK Status: Report |
22 October 2021
Belfast Telegraph owner sells property site By William Turvill Mediahuis, the owner of Northern Ireland news titles including the Belfast Telegraph, has sold Propertynews.com to software development firm GCD Technologies. Marc Vangeel, the chief executive of Mediahuis Ireland, said: “Mediahuis are proud to have owned the propertynews.com portal within our portfolio of news media and digital brands since 2019, but we believe that this offer from GCD Technologies will bring the resources and product development experience needed to continue to compete effectively into the future. We wish the new owners continued success.” Source: Press release Deal size: Unknown Country: UK Status: Official |
20 October 2021
Paypal could buy Pinterest for $45bn By William Turvill Fintech giant Paypal is considering a $45bn offer to buy social media platform Pinterest, according to Bloomberg. Source: Bloomberg Deal size: Unknown Country: US Status: Report |
19 October 2021
James and Kathryn Murdoch near deal to back AP climate hub By William Turvill The Quadrivium Foundation, headed up by James and Kathryn Murdoch, is close to agreeing a “multi-million dollar” investment in a new climate reporting hub at Associated Press, Axios reports. Founded in 2014, the Quadrivium Foundation has also put money into the American Journalism Project, SciLine and the 19th. Source: Axios Deal size: Unknown Country: US Status: Report |
13 October 2021
Black Ballad raises more than £335,000 in investment By Charlotte Tobitt Black Ballad, an online media brand for black women, has raised more than £335,000 in investment. Some £127,000 came from venture capitalists and private investors while more than £200,000 was raised through an equity crowdfunding campaign which saw 1,397 investors contribute an average £241 into Black Ballad. The money will help Black Ballad build a bigger team, pay writers more and up its content count, and invest in improving its technology. Source: Press Gazette Deal size: £335,000 Country: UK Status: Official |
7 October 2021
Tech.eu acquired by Webrazzi By Charlotte Tobitt Turkish tech news website Webrazzi has acquired Tech.eu, with plans to pool their resources and expand their coverage across the region. Tech.eu co-founder and editor-in-chief Robin Wauters said: “…it would be a lie to pretend that nothing will change. By becoming part of Webrazzi and pooling together our resources, we have an opportunity to be a lot bolder in our plans for the future of Tech.eu, and this will benefit you. “As you may have noticed, the European innovation ecosystems are growing like crazy, and together with Webrazzi we can meet the challenge of covering the scene the way we originally meant to – consistently, and qualitatively.” Source: Tech.eu and press release Deal size: Unknown Country: Europe Status: Official |
6 October 2021
IAC’s Dotdash agrees to buy Meredith’s national media business including People magazine By William Turvill Digital publishing giant IAC has agreed to buy Meredith’s national media assets, including People, Better Homes & Gardens and Allrecipes, for around $2.7bn. The deal, announced today and expected to close by the end of this year, will see IAC’s publishing division, Dotdash, acquire Meredith’s National Media Group. Meredith has already agreed a deal to sell the rest of its business, Local Media Group, to Gray Televsion. The combined IAC division will be called Dotdash Meredith and is expected to reach more than 175m online consumers a month, including 95% of women in the US. IAC has agreed to pay $42.18 per share of Meredith’s national media assets. Bloomberg reported that this values the deal at $2.7bn. Source: Press release Deal size: $2.7bn Country: US Status: Official |
6 October 2021
Readly buys Toutabo, owner of ePresse By Charlotte Tobitt Subscription newspaper and magazine bundler Readly has bought Toutabo, which owns the French digital subscription provider ePresse. Readly said the acquisition, due to complete at the end of October, gave it a market leading position in France, which it said was the largest magazine market in Europe. It will gain a French content portfolio of more than 1,000 magazines and 300 newspapers from around 280 publishers. Readly chief executive Maria Hedengren said: “Entering the French market has been a strategic priority for some time. Through the acquisition we establish a leading position in France overnight with a local team, strong relationships with publishers and great commercial partners. “With leading positions in the major European markets we are well positioned for continued growth and expansion.” Source: Readly Deal size: €8.2m Country: France Status: Confirmed |
30 September 2021
Chicago Sun-Times in talks to merge with WBEZ radio By William Turvill Chicago Public Media, the owner of local radio station WBEZ, is in talks to acquire the city’s Sun-Times newspaper. Both organisations have signed a “non-binding letter of intent while they explore joining together,” Chicago Public Media said in a statement. It said the proposed deal would create “create one of the largest local nonprofit news organisations in the nation and be a national model for the future of local journalism”. The Chicago Sun-Times, one of the cities two daily newspapers along with the Tribune, is currently owned by a “coalition of businesspeople, philanthropists and labour organisations that is committed to keeping Chicago one of the world’s most vibrant cities for quality journalism”. Source: Press release Deal size: Unknown Country: US Status: Official |
24 September 2021
Micro-payments platform Axate raises £350k via Crowdcube By Dominic Ponsford Micro-payments platform Axate has raised more than £350,000 via crowdsourced funding platform Crowdcube. David Montgomery’s JPI Media is among the investors as is former Wall Street Journal chief executive Will Lewis. The crowdsourced share-offer has given away 3% equity in the business, giving it a valuation of £11.3m. Axate offers a pay-per-article and day pass system which is in operation on 15 sites. Axate founder Dominic Young said: “I love that Axate is being funded by – and might ultimately be owned by – a network of our stakeholders (publishers and readers). Our project is about a network approach to monetisation, which will lead to a network approach to publishing and if our ownership is also the same network, how neat would that be?” Source: Axate/Crowdcube Deal size: £350,000 Country: UK Status: Confirmed |
23 September 2021
IAC in talks to buy Meredith for $2.5bn+ By William Turvill Digital publishing company IAC is reported to be in advanced talks to acquire magazine giant Meredith. The Wall Street Journal reported that the deal could be worth more than $2.5bn. The deal would see IAC – the owner of Brides, Dotdash and Investopedia – add Meredith’s established titles including People and InStyle to its portfolio. Source: The Wall Street Journal Deal size: $2.5bn+ Country: US Status: Rumour |
22 September 2021
The Athletic hires bankers to find $750m suitor By William Turvill The Athletic has hired bankers as it seeks to sell itself for more than $750m, according to a report by the Information. The sports news site has reportedly instructed investment bank LionTree to find a suitor. The Athletic was previously reported to be in deal talks with both the New York Times and Axios (see details below on this page). Source: The Information Deal size: $750m Country: US Status: Rumour |
22 September 2021
DMG Media Ireland seeks to buy Business Plus owner By Charlotte Tobitt DMG Media Ireland, the DMGT subsidiary which operates the Irish Daily Mail, Irish Mail on Sunday and Mail Online Ireland, has notified the competition watchdog of its intention to buy the B2B publisher behind the Business Plus magazine and Biz Plus website. DMG wants to take sole control of Irish company Nalac Limited. Business Plus editor Nick Mulcahy is its majority shareholder. Source: Competition and Consumer Protection Commission Deal size: Unknown Country: Ireland Status: Official |
21 September 2021
Industry Dive buys pharma title By William Turvill Industry Dive, the publisher of several specialist B2B sites, has acquired PharmaVOICE. The deal, reported by Axios today, marks Industry Dive’s fourth acquisition in the past 18 months. Industry Dive’s chief executive told Axios that the business publisher, founded in 2012, is now on course to generate revenues of $80m this year. Source: Axios Deal size: Undisclosed Country: US Status: Official |
15 September 2021
DMGT completes sale of RMS By Charlotte Tobitt DMGT has completed the sale of its insurance risk business RMS to Moody’s Corporation for around £1.425m in cash. The sale satisfies another of the pre-conditions for DMGT owner Lord Rothermere to potentially take the Mail, Metro and i owner private, following on from the listing of Cazoo Group Ltd last month. Discussions around DMGT’s three pension schemes in relation to their funding arrangements continue as the remaining pre-condition of Lord Rothermere’s proposal. Source: Press release Deal size: £1.425m Country: UK Status: Official |
15 September 2021
SmartNews raises $230 million at a $2 billion valuation By Charlotte Tobitt Japanese news discovery app SmartNews has raised $230m in Series F round funding at a $2bn valuation, according to Axios. This means the company’s value has essentially doubled in just over two years and takes its total capital raised to more than $400m. Source: Axios Deal size: $230m Country: US Status: Official |
14 September 2021
Fox Corp buys TMZ By Charlotte Tobitt Rupert Murdoch’s Fox Entertainment has bought showbiz brand TMZ from WarnerMedia. Fox said the deal gave it “the opportunity to further market and monetize the TMZ brand across its station group; ad-supported streamer, Tubi; and other Fox-owned platforms”. Harvey Levin, who founded TMZ in 2005, will continue to oversee day-to-day operations as managing editor and report to Rob Wade, Fox Entertainment’s president of alternative entertainment and specials. Levin said: “We couldn’t be more charged. Fox Entertainment is opening up a world of opportunities for TMZ to grow our current platforms and expand in every which way.” Source: Press release Deal size: Undisclosed Country: US Status: Official |
10 September 2021
GlobalData buys life sciences arm of IHS Markit By William Turvill Data and information company GlobalData has acquired the life sciences business of IHS Markit. The terms of the deal were not disclosed. It is expected to complete before the end of 2021. Mike Danson, the chief executive of GlobalData who also owns Press Gazette publisher New Statesman Media Group, said: “The Life Sciences acquisition represents a strategic bolt-on to our already strong pharmaceuticals data, insights and analytics services. “The addition of drug pricing data, as well as other critical Life Sciences data and analysis, further confirms our industry leading breadth and depth in the pharmaceuticals space.” Source: Press release Deal size: Undisclosed Country: UK Status: Official |
7 September 2021
Vox Media buys podcast industry title By William Turvill Vox Media has bought Hot Pod, a news outlet for the podcast industry, reports Variety. Hot Pod will become the first paid subscription product of the Verge, Vox’s technology site, according to the report. The deal comes shortly after Vox media acquired Punch, a drinks and cocktail culture website, from Penguin Random House (see report below from 23 August). Vox Media, which also publishes Vox, New York Magazine and Vulture, is one of a number of digital media companies currently considering plans to go public by merging with a special-purpose acquisition company (SPAC). Source: Variety Deal size: Undisclosed Country: US Status: Official |
3 September 2021
Roar B2B buys Environment Media Group By Dominic Ponsford UK-based events and media group Roar B2B has announced acquisition of Environment Media Group Ltd (EMG). EMG publishes Letsrecyle.com as well as magazines and newsletters. It also provides design services and hosts events and awards. Roar is an events company focused around business technology, social care and environment. Source: Roar B2B Deal size: £5m (reported) Country: UK Status: Confirmed |
31 August 2021
Vice raises $85m but SPAC talks end By William Turvill Vice Media has raised $85m from its existing investors after its talks to go public ended, according to a report by the Information. Vice was expected to enter the public market this year through a merger with 7GC & Co, a special-purpose acquisition company (SPAC). But, according to the Information, this deal is no longer on the cards. The Information also today reports that Vice’s co-founder and chairman, Shane Smith, has agreed to give up his voting control of the company as part of its new fundraising agreement. Source: The Information Deal size: $85m Country: US Status: Report |
26 August 2021
Dylan Howard buys Knewz from News Corporation By William Turvill Empire Media Group, the new business of controversial media executive Dylan Howard, has announced the acquisition of Knewz from News Corporation. Rupert Murdoch’s media giant launched Knewz, an aggregation site, as a potential rival to Google News in January 2020. It gave up on the venture in July this year. Confirming reports from earlier this month, EMG today said it has acquired and relaunched the Knewz brand. EMG, led by former America Media Inc boss Howard, has completed several digital acquisitions this year. In addition to Knewz, it publishes RadarOnline.com, OKmagazine.com and Front Page Detectives. Source: Press release Deal size: Unknown Country: US Status: Official |
26 August 2021
Forbes to go public through $630m SPAC deal By William Turvill Forbes Media is to go public in a deal valuing the business news publisher at $630m. Forbes plans to merge with Magnum Opus Acquisition Limited, a special-purpose acquisition company, in the fourth quarter of this year or in the first quarter of 2022. Forbes’ current majority shareholder, Integrated Whale Media Investments, was reported to be in talks to sell the business to GSV Asset Management earlier this year. Source: Press release Deal size: $630m Country: US/ Hong Kong Status: Official |
26 August 2021
Axel Springer buys Politico By William Turvill German publishing giant Axel Springer has announced the acquisition of Politico. The deal size was not disclosed, but CNBC reported that it is worth around $1bn, citing sources. It emerged earlier this month (see below) that Axel Springer was in talks to buy Politico. The publisher, which also owns Insider and Morning Brew in the US, was reported to be in talks to acquire Axios earlier in the summer. According to CNBC, this deal is no longer on the cards. As part of its takeover, Axel Springer will also be buying tech news website Protocol and the remaining 50% of Politico Europe, which it launched in 2014 as a joint venture with Politico. Robert Allbritton, the founder of Politico and Protocol, will continue as publisher of the brands after the sale completes. Source: Press release Deal size: Reportedly around $1bn Country: Germany/ US Status: Official |
23 August 2021
Phillips Media Group buys Baxter Bulletin from Gannett By Dominic Ponsford Baxter Bulletin in the US has been bought by Phillips Media Group, some 26 years after it was bought by US local news giant Gannett. Rupert E Phillips is a former publisher of the Baxter Bulletin, described as a local “paper of record”. He has previously bought New York Spanish language newspaper El Diario from Gannett. Source: Baxter Bulletin Deal size: Unknown Country: US Status: Official |
23 August 2021
Vox Media buys Punch By William Turvill Vox Media has announced the acquisition of Punch, a drinks and cocktail culture website, from Penguin Random House. The deal will see Punch added to Vox Media’s Eater portfolio of food and drink brands. Vox Media is the publisher of sites including Vox, New York Magazine, the Verge, Vulture and Recode. It is one of a number of digital media companies currently reported to be considering plans to go public through a merger with a special-purpose acquisition company (SPAC). Source: Press release Deal size: Unknown Country: US Status: Official |
20 August 2021
Nexstar buys the Hill for $130m By William Turvill Nexstar Media, a US local TV giant, has bought political news website the Hill for $130m. The Hill attracted an average 48m monthly users and 2.2bn page views in 2020, according to Comscore. Led by chairman Jimmy Finkelstein, the website employs more than 100 journalists. According to Axios’ sources, the Hill generated revenues of $40m last year and made a profit of $10m. Prior to the Nexstar deal, HRS Management was the Hill’s largest investor. Axios previously reported on talks between Nexstar and the Hill (see below on this page). Source: Press release Deal size: $130m Country: US Status: Official |
17 August 2021
Forbes in talks to go public through SPAC deal By William Turvill Forbes Media is in talks to merge with a Magnum Opus, a Hong Kong-based special-purpose acquisition company (SPAC), according to Bloomberg. The deal would reportedly value the business news publisher at more than $650m. Hong Kong’s Integrated Whale Media Investments, Forbes’ owner since 2014, was previously reported to be in talks to sell the business to GSV Asset Management. Source: Bloomberg Deal size: $650m Country: Hong Kong/US Status: Rumour |
16 August 2021
Axel Springer in talks to buy Politico By William Turvill German publishing giant Axel Springer is in talks to buy Politico, according to the Wall Street Journal. The WSJ reports that the talks, which could fall through, may end in Axel Springer buying an ownership stake in Politico or taking full control of the company. Axel Springer, which owns US publisher Insider, is already a partner of Politico. Together, they operate Politico Europe as a joint venture. Earlier this year, Axel Springer was reported to be in talks to buy Axios. Source: Wall Street Journal Deal size: Unknown Country: Germany/US Status: Rumour |
16 August 2021
Future buys Dennis for £300m By Charlotte Tobitt Future has bought Dennis Publishing for £300m from Exponent, the private equity firm that bought it in 2018. The titles included in the deal are: The Week UK / The Week US, The Week Junior UK / The Week Junior US, MoneyWeek, Kiplinger, Science & Nature, IT Pro, Computer Active, PC Pro, Minecraft World, and Coach. Viz, Fortean Times, Cyclist and Expert Reviews have not been bought by Future and will be retained by Broadleaf Group, the holding company of Autovia and formerly Dennis following Exponent’s separation of the businesses. Source: Future Deal size: £300m Country: UK Status: Official |
12 August 2021
Reddit valued at $10bn in latest funding round By William Turvill Message board website Reddit has been valued at $10bn in its latest investment round. The company just raised $410m, adding to $250m of investment it received earlier this year. The New York Times reports more details in its interview with CEO Steve Huffman. Source: New York Times Deal size: $410m Country: US Status: Announced |
10 August 2021
WarnerMedia in talks to sell TMZ to Fox By William Turvill WarnerMedia, a division of AT&T, is in talks to sell celebrity news business TMZ to Fox, according to the Information. The reported talks come after AT&T agreed to merge WarnerMedia with Discovery, a deal that is expected to complete next year. Source: The Information Deal size: Unknown Country: US Status: Rumour |
10 August 2021
Integral Ad Science buys Publica By William Turvill Integral Ad Science, an advertising verification company, has bought Publica, a connected TV ad platform, for $220m. Source: Press release Deal size: $220m Country: US Status: Announced |
10 August 2021
DMGT extends deadline on possible £810m privatisation By Charlotte Tobitt Mail, Metro and i publisher DMGT has secured a deadline extension on owner Lord Rothermere’s possible bid to de-list his media properties. DMGT has reached agreement of the terms of the sale and sold its insurance risk business RMS in preparation but still needs to meet other pre-conditions including the completion of its sale of online car retailer Cazoo. Lord Rothermere must now announce either his firm intention to take the titles private or that he does not plan to make an offer by 30 September. The original deadline was 9 August. Source: DMGT Deal size: £810m Country: UK Status: Official |
6 August 2021
DMGT sells insurance risk business RMS to Moody’s By Charlotte Tobitt Mail, Metro and i publisher DMGT has sold its insurance risk business RMS to Moody’s Corporation. DMGT had owned RMS since 1998 but is divesting business investments as it paves the way for controlling shareholder Lord Rothermere to take the company private in a deal worth £810m. DMGT chief executive Paul Zwillenberg said: “The sale of RMS marks another major milestone in DMGT’s transformation. It is the culmination of our strategy of investment in businesses combined with active portfolio management. “Organic investment in RMS’s software, data, data analytics, models and applications has created substantial shareholder value, particularly over the last few years as the team has delivered the accelerated product development programme.” Source: DMGT Deal size: £1.425m in cash Country: UK Status: Official |
3 August 2021
iCrossing buys Mediablaze By Charlotte Tobitt Hearst Magazines-owned global marketing agency iCrossing has acquired Mediablaze, a London-based digital experience and content marketing agency. It had already taken a minority stake in the business in 2016. Mediablaze will join iCrossing’s UK office and together they will offer clients full-service marketing solutions. Hearst Magazines president Debi Chirichella said: “With the digital acceleration brands have seen over the past year, there is a growing demand for complete marketing solutions that can offer engaging and impactful digital experiences and this investment positions us to deliver industry-leading solutions for our clients.” Mediablaze chief executive Paul Button added: “The joining of our businesses will combine Mediablaze’s digital experience capability with iCrossing UK’s powerful media and customer insights, creating a best-in-class agency solution that will help clients transform and accelerate their digital business.” Source: Press release Deal size: Undisclosed Country: UK Status: Official |
2 August 2021
News Corp agrees $1.15bn deal for Oil Price Information Service By William Turvill Publishing giant News Corp has announced a $1.15bn deal to buy the Oil Price Information Service (OPIS) from S&P Global and IHS Markit. Source: Press release Deal size: $1.15bn Country: US Status: Announced |
2 August 2021
Responsible Investor publisher bought by PEI By Charlotte Tobitt Responsible Investor publisher Response Global Media, which also organises ESG events and runs the Responsible Company membership programme, has been bought by information and events provider PEI. All staff at the independent publishing company, launched in 2007 by co-founders and joint managing directors Hugh Wheelan and Tony Hay, are being kept on following the deal. PEI chief executive Tim McLoughlin said: “In RGM we see huge potential to build on the growth of strongly established, high-quality subscription brands and to increase our presence in a key growth area of the market.” Source: Responsible Investor Deal size: Undisclosed Country: UK Status: Official |
29 July 2021
Substack buys public debate platform By William Turvill Newsletter platform Substack has acquired Letter, a startup website for public debate, Digiday reports. Source: Digiday Deal size: Undisclosed Country: US Status: Official |
28 July 2021
Swiss partner buys out Axel Springer in Central/ Eastern Europe By William Turvill Swiss publisher Ringier is buying out the assets of its partner, Axel Springer, in Hungary, Serbia, Slovakia, Estonia, Latvia and Lithuania. Ringier and Axel Springer have operated a joint venture in Central and Eastern Europe – Ringier Axel Springer Media – since July 2010. This deal breaks up much of that joint venture, although the companies will retain their partnership in Poland. Axel Springer’s news division will now focus on its three key markets – Germany (where it owns titles including Bild and Welt), the US (where it owns Insider) and Poland. Source: Press release Deal size: Undisclosed Country: Germany/Switzerland Status: Announced |
26 July 2021
Recurrent buys Futurism By William Turvill Fresh from acquiring MEL Magazine (see below), Recurrent Ventures has today announced a deal to buy Futurism from Singularity University. Founded in 2014, Futurism has grown from Reddit page into a well-known media brand that covers AI, rocket launches, sustainability and genetics. Futurism was previously acquired by Singularity University, a tech company backed by Google and Deloitte, in 2019. Recurrent is a venture capital-backed digital media company that owns brands including Popular Science, Domino, Outdoor Life, The Drive and Field & Stream. Source: Press release Deal size: Undisclosed Country: US Status: Announced |
23 July 2021
Taboola buys Connexity for $800m By William Turvill Taboola, a marketing company that promotes content and advertising on news websites, has announced the acquisition of Connexity, an e-commerce platform. The deal, which comes after Taboola went public through a SPAC deal in June, is worth $800m. Source: Press release Deal size: $800m Country: US Status: Announced |
22 July 2021
Former CBS boss launches SPAC By William Turvill Joe Ianniello, a former chief executive of CBS, has launched a new special-purpose acquisition company (SPAC). He told the Wall Street Journal that he hopes to raise at least $300m for his venture, Argus, and pursue a merger. Given his background, it would seem likely that Ianniello will target the media sector – a lively SPAC market currently (scroll down for updates on deals involving Buzzfeed, Vice and BDG) – but the Journal said he could look to the telecoms and technology sectors for deals. Source: The Wall Street Journal Deal size: $300m Country: US Status: Announced |
22 July 2021
Royal Media makes two acquisitions in two weeks By William Turvill Royal Media, a B2B and business information company, has announced two takeovers in quick succession. The company – which has brands in the air freight, financial services, and vehicle finance sectors – bought market intelligence firm Connectivity Business on 20 July. On 14 July, it bought the Foster Report, which covers the oil, electricity, and natural gas markets, from Concentric Energy Publications. In both cases, the sellers were represented by Grimes, McGovern & Associates. Source: Grimes, McGovern & Associates Deal sizes: Undisclosed Country: US Status: Announced |
21 July 2021
BDG Media makes $150m acquisition ahead of SPAC deal By William Turvill Digital media company BDG Media, which publishes titles including Bustle and Input, is buying Some Spider Studios for around $150m, the Wall Street Journal reports. BDG is one of a number of digital media firms expected to go public this year by merging with a special-purpose acquisition company (scroll down for details on similar deals involving Buzzfeed and Vice). Some Spider Studios operates parenting websites Scary Mommy, Fatherly and the Dad. Source: The Wall Street Journal Deal size: $150m Country: US Status: Announced |
21 July 2021
Video ad tech company Audigent secures $19m venture financing By Dominic Ponsford Predictive Pop Inc (doing business as Audigent), a provider of an audience intelligence platform that improves video ad targeting across mobile, social, and over-the-top (OTT) digital television (TV) channels, has secured $19.1m in Series B funding from the Go Philly Fund. In addition, Broadscale Group, Raised in Space, MathCapital, Riverpark Ventures and others also participated in the funding round. Audigent brings the total funding to $33.6 million. Source: GlobalData Deal size: $19.1m Country: US Status: Announced |
20 July 2021
Cannabis marketing company MediaJel in merger By Dominic Ponsford MediaJel Inc, a provider of advertising and marketing solutions for the cannabis industry, has merged with Foottraffik, a provider of advertising and marketing solutions. Source: GlobalData Deal size: Unknown Country: US Status: Confirmed |
20 July 2021
Adtech company Adelaide secure $2m venture funding By Dominic Ponsford Adelaide, an online advertisement technology firm, has secured $2m in venture funding from a crew of angel investors. Adelaide says its mission is to “quantify the true quality of media through the lens of attention, so marketers can invest more confidently and create incentives in the market for high-quality media”. Source: GlobalData Deal size: $2m Country: US Status: Confirmed |
20 July 2021
Vice Media’s SPAC talks stall amid valuation questions By William Turvill Vice Media’s plans to go public through a merger with a special-purpose acquisition company (SPAC) have stalled, according to The Information. The report states that Vice is struggling to raise enough financing for the deal amid questions about its valuation. The Information reports that Vice was expected to be valued at around $2.5bn (a large reduction on the $5.7bn valuation it earned in 2017) but that this now appears ambitious. Source: The Information Deal size: $2.5bn? Country: US Status: Rumour |
16 July 2021
WordPress and Tumblr owner buys Pocket Casts By William Turvill Automattic, the owner of WordPress and Tumblr, today announced the acquisition of Pocket Casts. The podcast company was previously owned by a group of public broadcasters in the US, including NPR and BBC Studios America. Current reported that Pocket Casts had been put up for sale in January. Source: Press release Deal size: Undisclosed Country: US Status: Confirmed |
16 July 2021
Virtual venue company Fly Machine secures $21m venture funding By Dominic Ponsford Flymachine, a US-based new virtual venue for live entertainment which delivers a first-of-its-kind immersive social experience, has secured $21 million in venture funding, led by Greycroft Partners and SignalFire, with additional participation from Primary Venture Partners, Contour Venture Partners, Red Sea Ventures, and Silicon Valley Bank. Angel investors joining the round include Coran Capshaw, Bill Silva, Marty Diamond, Larry Webman, Ben Lovett, John Battelle, and LionTree Partners. Source: GlobalData Deal size: $21m Country: US Status: Confirmed |
16 July 2021
Saudi Research & Media Group buys 51% of podcast platform Thmanyah By Dominic Ponsford SMRG owns more than 30 media outlets iuncluding Arab News. Saudi-based Thmanyah operates throughout the wider region. Source: Flashes and Flames Deal size: Unknown Country: Saudi Arabia Status: Reported |
16 July 2021
JD Power buys Superior Integrated Solutions By Dominic Ponsford US-based JD Power is a supplier of data, analytics and software to care dealers. Superior Integrated Solutions provides finance and insurance sales software to 7,700 car dealer. Source: Press release Deal size: Unknown Country: USA Status: Confirmed |
14 July 2021
Outside buys three new brands to enhance subscription offering By William Turvill Outside Media, a growing outdoor pursuits publisher, has announced the acquisition of three new brands – Pinkbike, CyclingTips and Trailforks. Outside has made a number of acquisitions in recent years and is aiming to become a digital subscription powerhouse. Press Gazette interviewed Outside CEO Robin Thurston last month – read more here. Source: Press release Deal size: Unknown Country: US Status: Confirmed |
13 July 2021
Privacy-focused Facebook rival in talks to raise new funds By William Turvill MeWe, a privacy-focused social media startup that wants to challenge Facebook, is in talks to raise new funds, Axios today reports. The subscription-based platform is hoping to raise between $10-30m this year, founder Mark Weinstein tells Axios. It is said to be in talks with strategic investors currently, including venture capital and private equity groups. Source: Axios Deal size: $10-30m Country: US Status: Confirmed |
12 July 2021
Lord Rothermere could take DMGT private By Charlotte Tobitt The owner of the Daily Mail, Metro and i titles could go private as Lord Rothermere considers a bid to de-list his media properties. The deal would be worth £810m. Source: DMGT Deal size: £810m Country: UK Status: Confirmed |
9 July 2021
AgriBriefing £150m sale mooted By Dominic Ponsford UK-based publisher of Farmers Guardian AgriBriefing is reported to be in the advanced stages of a sale. Flashes and Flames reports that New York-based Ares Management Corp is looking to sell the business it bought for £100m in 2019. Euromoney has signalled its interest in agriculture and has been mooted as one likely buyer. In February this year AgriBriefing bought Tallage SAS a France-based provider of grain, oilseeds, darum wheat, biofuels and barley intelligence. “AgriBriefing was formed in 2012 with a mission to provide information, news, market data, pricing benchmarks and networks across the global agribusiness supply chain. These markets are often opaque and fragmented but are becoming ever more international and interconnected. There is an ever-increasing need for information and data to help market participants operate more efficiently.” Source: Flashes and Flames Deal size: $150m Country: UK Status: Rumour |
9 July 2021
Nielsen buys adtech company TVTY By Dominic Ponsford Media audience analytics company Neilsen Holdings has acquired France-based advertising technology company TVTY. TVTY offers customers technology which enables them to optimise their advertising spend on TV campaigns. Nielsen said the deal will help marketers to better plan and optimise their marketing spend. TVTY says its technology helps advertisers optimise their TV ad sepnd based on business outcomes. Source: GlobalData Deal size: Undisclosed Country: US/France Status: Confirmed |
7 July 2021
Psychedelic media company gets high response to funding round By Dominic Ponsford Canada-based Microdose Psychedelic Insights has closed a seven-figure over-subscribed round of seed funding. The company provides news, financial analysis and events aimed to “drive the psychedelics industry into the forefront of modern medicine”. It has received funding from Origin Therapeutics, Negev Capital and The Conscious Fund. As part of the transaction, Charlie Finnie, CEO of Origin Therapeutics joins as a board member. Source: GlobalData Deal size: $1m+ Country: Canada Status: Confirmed |
7 July 2021
Recurrent Ventures buys MEL Magazine from Dollar Shave Club By William Turvill Recurrent Ventures has announced the acquisition of men’s lifestyle title MEL Magazine from the Dollar Shave Club. The deal will revive MEL, which halted publication earlier this year when its financial relationship with Dollar Shave Club was ended. Recurrent is a venture capital-backed digital media company that owns brands including Popular Science, Domino, Outdoor Life, The Drive and Field & Stream. Source: Press release Deal size: Unknown Country: US Status: Confirmed |
2 July 2021
Ladbible considers stock market listing By Charlotte Tobitt Youth publisher Ladbible is reportedly considering either a stock market listing or a partial sale. Sky News reported it has appointed Zeus Capital to help it look at its strategic options but a decision may not be made for months yet. Source: Sky News Deal size: £350-400m Country: UK Status: Rumour |
28 June 2021
Group Rossel and DPG Media buy RTL Belgium By Dominic Ponsford Belgium-based Groupe Rossel and DPG Media has agreed to buy TV and radio business RTL Belgium from Euros 250m ($300m). DPG said: “The new shareholders will additionally focus on accelerating the digital transformation of RTL Belgium’s radio and television channels. Long-form and short-form online video are fast-growing segments that offer numerous opportunities for television companies. The development of digital radio and podcasting present similar opportunities for radio.” JP Morgan acted as adviser to RTL Group on the deal. Source: GlobalData Deal size: Euros 250m ($300m) Country: Belgium Status: Confirmed |
30 June 2021
Taboola goes public By Dominic Ponsford Content recommendation platform Taboola goes public today with a listing on the Nasdaq exchange in the US under the ticket TBLA. The company was valued at $2.6bn following its merger with ION, a special acquisition company. Source: Press release Deal size: $2.6bn Country: US Status: Complete |
25 June 2021
Pageant Media pays ‘$20m’ for Hedge Fund Alert By Dominic Ponsford US-based Green Street has sold online news website Hedge Fund Alert to UK-based Pageant Media. The US site has been running for 20 years aiming to give an early take on deals and intelligence in the world of hedge funds in the US. Pageant already runs HFM and Eurekahedge. Hedge Fund Alert is the fourth acquisition to be completed since Intermediate Capital Group bought a majority stake in Pageant Media in February 2020. Pageant employs 350 staff and has turnover of around £30m a year. Deal size: $20m (estimate from Flashes and Flames) Country: UK acquirer, US target Status: Confirmed Source: press release. |
24 June 2021
US streaming giants named as candidates to buy Channel 4 from UK government By William Turvill The UK government this week confirmed plans to hold a consultation on whether to privatise broadcaster Channel 4. The Times, citing an interview with media minister John Whittingdale, reports that US streaming giants like Netflix and Amazon could be candidates. Foreign ownership of Channel 4 would be controversial in the UK, but Whittingdale did not rule the streaming giants out as potential buyers. Source: The Times Deal size: Unknown Country: UK Status: Rumour |
23 June 2021
Buzzfeed could announce long-anticipated deal to go public this week By William Turvill Buzzfeed appears to be on the verge of confirming its long-anticipated plans to go public. The Wall Street Journal today reports that CEO Jonah Peretti could announce Buzzfeed’s merger with 890 5th Avenue Partners, a special purpose acquisition company (SPAC), as soon as this week. Source: The Wall Street Journal Deal size: Unknown Country: US Status: Rumour |
22 June 2021
The Hill is seeking a buyer and has been in talks with Nexstar By William Turvill US political news website the Hill is looking for a buyer, according to Axios. Owner Jimmy Finkelstein has reportedly ramped up his efforts to sell the outlet. Axios reports that the Hill has recently been in talks with broadcasting giant Nexstar Media Group. Source: Axios Deal size: Unknown Country: US Status: Rumour |
![]() 22 June 2021 Podcast tech company WaitWhat raises $12m By Dominic Ponsford WaitWhat has closed a funding round which has seen it raise $12m to invest in its content production and research efforts to break new ground in digital formats. Podcasts such as “Masters of Scale” and “Meditative Story” have been downloaded more than 70m times. It plans to look into new creative ways to create audio and video content which includes content around fitness and parenting. Source: TechCrunch Deal size: $12m Country: US Status: Confirmed |
18 June 2021
Meltwater buys Owler for $24.5m By Dominic Ponsford High tech press cuttings and media analytics company Meltwater has bought crow-sourcing business information company Owler for $24.5m. Owler claims to be the second largest business community in the world and says it has 5m business people contributing to its 14m company profiles. Meltwater CEO John Box said: “Combining this proprietary information from Owler with the insights that Meltwater is able to extract from online news and social media will differentiate Meltwater’s product in the market and bring great value to our 27,000 customers globally.” Source: Press release Deal size: $24.5m Country: US Status: Confirmed |
18 June 2021
UK government could privatise Channel 4 next year By William Turvill The UK government is lining up Channel 4 for privatisation and could sell it off as soon as next year, reports the Financial Times. Source: Financial Times Deal size: Unknown Country: UK Status: Rumour |
18 June 2021
Response Global Media ‘sold’ to PEI Media for £12m By Dominic Ponsford Response Global Media publishes Responsible Investor and says of itself: “Our aim is to lead strategic, sustainable change in financial markets through thought-leadership, proprietary journalism, events and community building amongst business professionals.” Responsible Investor describes itself as a newswire dedicated to responsible investment, ESG and sustainable finance with a global subscriber base. PEI Media publishes Private Equity International and was itself acquired by asset management group Bridgepoint for £120m three years ago, Flashes and Flames reports. Source: Flashes and Flames Deal size: £12m Country: UK Status: Rumour |
17 June 2021
New York Times and Athletic end acquisition talks By William Turvill The New York Times has ended talks to buy subscription sports news website the Athletic, according to the Information. The two parties reportedly could not agree on a fair price. Source: The Information Deal size: N/A Country: US Status: Rumour |
15 June 2021
Spotify agrees $60m deal for ‘Call Her Daddy’ podcast By William Turvill Spotify has agreed to deal so that it can exclusively host Alex Cooper’s ‘Call Her Daddy’ podcast. Variety reports that the three-year deal is worth more than $60m. Source: Press release/ Variety Deal size: $60m Country: US Status: Official |
![]() 15 June 2021 Mark Allen Group buys 13 B2B titles from RELX By Dominic Ponsford Mark Allen Group has purchased 13 titles from Elsevier Ltd, part of RELX Group. This deal comprises four magazines – Metal Powder Report, Reinforced Plastics, World Pumps and Filtration & Separation – and nine newsletters: Additives for Polymers, Biometric Technology Today, Computer Fraud and Security, Filtration Industry Analyst, Fuel Cells Bulletin, Membrane Technology, Network Security, Pump Industry Analyst and Sealing Technology. Chairman Mark Allen said: “During the past 15 months since lockdown our company has weathered the pandemic storm exceptionally well. The 2020-21 financial year, which we will be reporting in the autumn, will be a record year. It is now time for us to make sure we move forward again. This Elsevier portfolio, with a combination of institutional and corporate subscriptions, as well as advertising, offers us an excellent opportunity to provide these publications with the additional care and attention that we can provide.” Mark Allen Group publishes more than 100 magazines and also runs awards and events in 12 different sectors. In 2019/20 it reported EBIDTA of £8.4m on turnover of £54.6m In February 2020 Mark Allen Group completed the purchase of Farmers’ Weekly from Elsevier. In 2019 MAG bought 12 B2B transport magazines from UKI Media and Events, as well as the 163-year-old The Engineer magazine and its associated event Subcon from Centaur Media. Deal size: Undisclosed Country: UK Status: Announced |
![]() 10 June 2021 Buzzfeed to raise $200m in bonds ahead of SPAC deal By William Turvill Buzzfeed is rumoured to be planning a public listing by merging with 890 Fifth Avenue Partners, a special purpose acquisition company (SPAC). The Information reports that Buzzfeed is in talks to raise $200 in convertible bonds to add to cash it will raise through the SPAC deal. This $200m will be used to fund a planned acquisition of digital lifestyle publisher Complex Networks, according to the Information. Source: The Information Deal size: $200m Country: US Status: Rumour |
10 June 2021
Sinclair raising $250m for sports streaming push By William Turvill Sinclair Broadcast Group is seeking to raise $250m to fund a new sports streaming venture, the New York Post reports. Investment bank LionTree is said to be working on the fundraiser for Sinclair. Source: New York Post Deal size: $250m Country: US Status: Rumour |
Sports Illustrated publisher Maven raises $20m and buys the Spun By Dominic Ponsford Sports Illustrated publisher Maven has raised $20m and bought athletics news website the Spun. Source: Press release Deal size: $20m Country: US Status: Confirmed |
8 June 2021
Morning Consult raises $60m in new funding By William Turvill Morning Consult, a polling, data and research firm, has raised $60m in series B funding. The deal values the company at more than $1bn, according to Axios. Source: Axios Deal size: $60m Country: US Status: Confirmed |
The Week magazine put up for sale by Dennis Publishing By William Turvill News and current affairs magazine The Week has been put up for sale by Dennis Publishing, according to Sky News. Dennis, owned by Exponent Private Equity, has reportedly hired bankers from LionTree Advisors to handle the sale process. Source: Sky News Deal size: Unknown Country: UK Status: Rumour |
3 June 2021
Blackstone buys PC World publisher IDG By William Turvill Blackstone, a US private equity giant, has agreed to buy tech media company International Data Group (IDG) for $1.3bn from Oriental Rainbow, a subsidiary of China Oceanwide Holdings Group. IDG is the publisher of brands including PC World and Mac World. Source: Press release Deal size: $1.3bn Country: US Status: Confirmed |
![]() Press Gazette publishes first Media Deals Tracker monthly round-up for May 2021 By William Turvill For our first Media Deals Tracker, we compiled details of 30 completed, agreed or rumoured deals through May 2021. |
1 June 2021
UK government explores sale of Channel 4 By William Turvill The UK government is considering a sale of Channel 4, the Times reports. Source: The Times Deal value: Unknown Country: UK Status: Rumour |