Providence Equity Partners

MTG makes €115m from Baltic nets sale

Modern Times Group is selling its operations in the Baltic states to Providence Equity Partners in a deal that values the free, pay TV and radio businesses at €115 million (US$124 million), or twelve times 2016 earnings before interest and tax. MTG said the sale was part of its plan to transform itself  from “a […]

beIN completes Digiturk acquisition

beIN Media Group has finally completed its acquisition of Turkish pay TV operator Digiturk from its holding company DP Acquisitions. Announcing the move, beIN Media Group chairman and CEO Nasser Al-Khelaïfi said that the acquisition represents the “largest deal in the history of our group and a major milestone in our global expansion”. The completion […]

Time Warner investment values Hulu at $5.8bn

Hulu has been valued at around US$5.83 billion after Time Warner made a multi-million dollar investment in the US streaming service. Turner and Warner Bros. parent Time Warner paid US$583 million for a 10% stake in Hulu, which already counts 21st Century Fox, The Walt Disney Company and Comcast as part-owners. Former part owner Providence […]

Univision confirms IPO plan

US Hispanic broadcaster Univision is going public after filing for an IPO. The plan, which has been in the works for months, will see Univision Communications offer an unspecified number of Class A common stock on a currently unannounced stock exchange. Pricing of the IPO has not been revealed either, though the company posted full-year […]

Discovery/Foxtel bid among Ten offers

Network Ten in Australia has confirmed it has received “non-binding, conditional proposals” relating to a company takeover – likely including one from Discovery Communications and Foxtel. Any of these could result in “change of control of Ten or a refinancing of its existing debt facilities”, the firm said in a note to the Australian Stock […]

Shareholders meet to discuss future of Spain’s ONO

ONO’s shareholders are to meet this Thursday to decide whether to press ahead with plans for an IPO or to consider a sale of the Spanish cable operator to Vodafone, according to press reports. According to the EFE press service, citing unnamed sources close to the process, shareholders will study both the IPO plan and […]

ONO board backs IPO plan despite Vodafone rumours

Spanish operator ONO’s board of directors have backed plans to take the company public, despite reports of a takeover approach from Vodafone. In a statement, following a board meeting at the company’s headquarters in Madrid yesterday, ONO said that no proposals related to an acquisition of the firm were presented or discussed. Instead, it said […]

Digiturk ‘on the block’

Turkey’s Digitürk may be sold off in whole or in part following a Turkish state fund’s seizure of 12 companies owned by the pay TV operator’s majority owner, Çukurova Group, according to local reports. Sakir Ercan Gül, chairman of the Turkish Saving Deposit Insurance Fund (TMSF), told Bloomberg at the weekend that the TMSF would […]

Jason Kilar joins DreamWorks board

Former Hulu CEO Jason Kilar is to join the board of Jeffrey Katzenberg’s DreamWorks Animation. Kilar, who stepped down from his rocky run at the top of streaming service Hulu last month, joins DreamWorks along with Universal Music Group CEO Lucian Grainge to replace current directors Mathan Myhrvold and Richard Sherman. Kilar’s time at Hulu […]

Hulu names Forssell interim CEO

Hulu has appointed its senior VP of content Andy Forssell as its interim CEO and he will take charge following departure of current boss Jason Kilar at the end of the month. In a blog post announcing the move, Kilar said that Forssell had the Hulu board’s “strong support” and that a permanent decision would […]