Here’s a round-up of some media-related acquisitions over the last week.
Euromoney Institutional Investor PLC, the international online information and events group, has agreed to acquire 100% of the equity of RISI, the leading price reporting agency (“PRA”) for the global forest products market.
In its recent strategy update, Euromoney highlighted price discovery (the main activity of a PRA) as a key investment theme. The acquisition of RISI follows the acquisition in August last year of FastMarkets, a leading provider of real-time metals market pricing information, which has significantly enhanced Metal Bulletin’s position in price reporting.
Hunt Valley, Md.-based Sinclair Broadcast Group is doubling down on the tennis audience, agreeing to acquire Tennis Media, owner of Tennis Magazine and Tennis.com, for as much as $14 million. It comes a year after Sinclair paid $350 million to acquire cable’s The Tennis Channel.
Sinclair, which owns WJLA Channel 7 in the D.C. market as well as more than 170 other television stations across the country, sees tennis fans as a lucrative attraction for advertisers. It says the median household income for Tennis Magazine’s readership is just above $150,000 a year. During the just-completed Australian Open, Tennis Channel was No. 1 with viewers with household incomes of $100,000 or more.
Informa will acquire Yachting Promotions Inc., operator of some of the largest U.S. boat shows, from Active Interest Media for £106m. The move combines U.S.-based, global yachting exhibitions with Informa’s Monaco Yacht Show. Stephen A. Carter, Informa Group Chief Executive, said: "Following three years of private discussions, we are delighted to bring YPI into the Group."
Emmis Communications has sold Atlanta, Cincinnati, Orange Coast and Los Angeles magazines to Hour Media Group LLC. The deal closed for $6.5 million. This is the latest regional grab for Hour, which publishes several Detroit-based magazines.
Hour also acquired the Palm Beach Media Group in January, with titles including Palm Beach Illustrated and Naples Illustrated. Hour now publishes over 70 magazines and custom titles, in addition to the digital assets and related events.
There’s no sale yet but Time Inc. has asked potential suitors to submit acquisition offers by this week, according to Bloomberg and people familiar with the matter.
“Five companies have expressed interest in acquiring all of Time, one of the people said. Two of the potential buyers are Meredith Corp. and an investor group led by Edgar Bronfman Jr., the people said. At least one of the other three bidders is a publicly traded company, the person said. Time is also considering taking an investment from private investors.”