Germany’s Hubert Burda Media buys Radio Times and other UK magazines for £270m January 12, 2017 A German media company has announced a deal to buy Radio Times and more than 70 other magazines. Munich-based Hubert Burda Media is understood to have acquired Immediate Media from its private equity owner Exponent and Management for £270m. Announcing the deal this morning, Burda noted that Immediate has more than 19m consumers each month, [...]
Government comes under fire for Green Investment Bank sale after claims Macquarie is planning asset-strip January 11, 2017 The government has come under scrutiny today over the privatisation of the Green Investment Bank. The Commons Environmental Audit Committee today raised concerns about the proposed sale to Australian investment bank Macquarie, which is believed to be the favoured bidder. It was reported over the weekend that Macquarie is planning to strip the bank of its [...]
Veteran newspaper exec leads takeover plot for Richard Desmond titles January 10, 2017 A former News of the World editor is spearheading a takeover plot for Richard Desmond’s newspapers and magazines. David Montgomery, also a former Mirror Group chief executive, is seeking to drum up funds for a new media investment vehicle. Read more: Daily Express owner mulling sale of tabloids to rival Trinity Mirror Montgomery, who City [...]
Grand Union shake-up: London bar owners appoint advisers for sale January 10, 2017 The owners of trendy London bar chain Grand Union have appointed advisers as they seek to sell the business. Leisure property specialist Coffer Corporate Leisure has been taken on to handle the sale of Grand Union, City A.M. has learned. Read more: Craft beer may have just met its match The chain, which specialises in [...]
UK bidder still hopeful in Green Investment Bank bidding process after Macquarie slammed for asset-stripping plans January 9, 2017 The British bidder for the government’s Green Investment Bank (GIB) has retained hope of landing the asset as the preferred buyer’s offer comes under scrutiny. Australian investment bank Macquarie has been the government’s preferred bidder for the privatisation since the autumn. But, after it was reported over the weekend that Macquarie plans to strip the bank [...]
Mars (of bars fame) in $9bn deal to buy US animal hospital company January 9, 2017 Chocolate bar firm Mars has agreed a $9.1bn (£7.5bn) takeover deal for the largest operator of pet hospitals in the United States. While Mars is best known for its bars, the company also owns Whiskas and Pedigree and claims to be the world’s biggest pet food manufacturer. The firm today announced it had made a [...]
The most rock ‘n’ roll deal of 2017: Future agrees deal to buy, and rescue, music magazines January 9, 2017 Media company Future has agreed a deal to buy, and rescue, a group of rock magazines. Future’s share price dropped by two per cent Monday morning after it announced the deal for Classic Rock, Metal Hammer, Prog, Blues and Golden Gods. The publisher sold the titles for £10.2m in 2013 to Team Rock, which went into [...]
Voyageurs du Monde eyes English-speaking market with 60 per cent stake in UK travel company Original Travel January 9, 2017 One of France's largest travel firms, Voyageurs du Monde, has said it will acquire 60 per cent of UK-based luxury tour operator Original Travel in an effort to further expand into English-speaking markets. The Euronext Paris-listed company has a 40 per cent share of the French market, but it's now eyeing up expansion in the UK, US, Canada, Singapore, [...]
Serial entrepreneur Luke Johnson on Channel 4 sell-off, dodging journalism and having no Brexit regrets January 9, 2017 Life could have been very different for serial entrepreneur and investor Luke Johnson. His father, Paul Johnson, is a former editor of left-wing political magazine the New Statesman. And his brother, Daniel, is the founder of political magazine Standpoint. In the tight-knit media world, it would not have been a surprise if Luke Johnson had [...]
How boutiques have snatched bankers and M&A business from the Wall Street giants January 9, 2017 With bonus season kicking off this week, one or two investment bankers at Wall Street heavyweights may well have cast an envious eye over the recent results of London boutique Robey Warshaw. The firm, which was founded in 2013 and has three former Wall Street bankers as its partners, reported profits of £36.6m for the year [...]