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Dalian Wanda to Acquire Dick Clark Productions from Eldridge Industries for $1B

Dalian Wanda to Acquire Dick Clark Productions from Eldridge Industries for $1B

Dalian Wanda acquired a majority stake in Legendary Entertainment for $3.5 billion. Wanda has also partnered with Sony Pictures to market and co-finance some upcoming movie releases of Sony Corp’s film unit in China. In March, Wanda‘s AMC Entertainment (NYSE: AMC), acquired rival chain Carmike Cinemas for $1.1 billion, and in July it acquired London-based Odeon & UCI Cinemas Group, the largest theater exhibitor in Europe, from private equity firm Terra Firma, in a deal valued at £921 million. Wanda’s chairman Wang Jianlin, with a fortune worth over $30 billion, is the first mainland Chinese billionaire ranked within the Top 20 of Forbes Billionaires List. Wang, who hails from a poor background in inland Sichuan Province, is also said to be Asia’s richest man. Dalian Wanda Group was founded in 1988 and is engaged in three key business activities – commercial properties, culture, and finance. In 2015, its assets amounted to 634 billion yuan with revenue of 290.16 billion yuan. Wanda Commercial Properties is the world’s largest real estate enterprise and the biggest five-star hotel owner in the world. Wanda Cultural Industry Group, meanwhile, is the largest cultural enterprise in China, and the world’s largest cinema operator. It is also the world’s biggest sports company. Elsewhere, Wanda Financial Group is the largest internet finance enterprise in China. By 2020, Wanda Group aims to become a world class multinational corporation with assets of $200 billion, market capitalization of $200 billion, revenue of $100 billion and net profits of $10 billion. In a related Chinese-American entertainment industry move, last month, Steven Spielberg’s Amblin Partners and Alibaba Group’s (NYSE: BABA) film studio Alibaba Pictures (SEHK: 1060) (SGX: S91), said they have entered into a comprehensive strategic partnership to co-produce and finance films for global and Chinese audiences, as well as collaborate on the marketing, distribution and merchandising of Amblin Partners films in China. Wang Jianlin, Chairman of Dalian Wanda Group.]]>

ProSiebenSat.1 $PSM Buying @Parship_de Dating Site from Oakley $OCL for €200M

ProSiebenSat.1 $PSM Buying @Parship_de Dating Site from Oakley $OCL for €200M

ProSiebenSat.1 bought out Munich-based digital fashion marketplace Stylight by increasing its previous equity stake from 22% to 100%, at a valuation of €80 million. 7Commerce, the strategic investment arm of ProSiebenSat.1, focuses mainly on the segments of Beauty & Accessories (Amorelie, Flaconi, Valmano, Stylight) and Online Comparison (Verivox, moebel.de, preis24, 12Auto). The strategy of 7Commerce is based on the premise that the TV-to-online lever works best in the segments of fashion and lifestyle. As such, the synergies between online dating and TV are expected to be particularly conducive to promoting the growth of Parship Elite in the German market. To enhance synergies and promote interchanges among all strategic ventures of ProSiebenSat.1, long-term partnerships are organized into special verticals or clusters. SevenVentures pools all venture investments (minority investments and media cooperations) under one roof. Through media-for-revenue and media-for-equity investment models, the portfolio companies receive advertising time in exchange for a revenue or equity share.]]>

New Zealand's Sky Network to Acquire $VOD Vodafone NZ for $2.44B

New Zealand's Sky Network to Acquire $VOD Vodafone NZ for $2.44B

Reuters reported. Under terms of the deal Sky would acquire all of the shares in Vodafone NZ for a total purchase price of NZ$3.437 billion ($2.44 billion) through the issue of new Sky shares, giving Vodafone Europe B.V. a 51 percent interest in the combined group and cash consideration of NZ$1.25 billion ($0.89 billion), to be funded through new debt. The new Sky shares will be issued at NZ$5.40 per share, representing a 21 percent premium to Sky’s last close. “The merger brings together Sky’s leading sports and entertainment content with our extensive mobile and fixed networks,” said Vodafone NZ CEO Russell Stanners in a statement, according to Bloomberg. Sky has entered a loan facility with Vodafone for up to NZ$1.8 billion to fund the cash part of the deal and repay existing debts. Stanners will be CEO of the combined group, while Sky Chairman Peter Macourt will be its chairman, Bloomberg added. Sky was advised by Citigroup, while Deutsche Bank AG and Deutsche Craigs advised Vodafone. Vodafone NZ has over 2.35 million mobile connections and over 500,000 fixed-line connections in New Zealand. SKY is New Zealand’s leading pay TV provider with over 830,000 subscribers. The deal must be approved by Sky shareholders. A meeting is expected to take place in early July, Reuters added Vodafone Group Plc operates as a telecommunications company worldwide. The company offers voice, messaging, and data services across mobile and fixed networks; broadband and TV services; cloud and hosting, as well as Internet protocol-virtual private network services; roaming services; and unified communications services. The company serves 462 million mobile, 13 million fixed broadband, and 9.5 million TV customers. It sells its products primarily through branded stores, distribution partners, and third party retailers. Vodafone Group Plc was founded in 1984 and is based in Newbury, the United Kingdom. Sky Network Television Ltd provides multi-channel, pay television, and free-to-air television services in New Zealand. The company broadcasts approximately 100 channels on its digital satellite platform, including basic package of a total of 58 channels comprising news, sports, documentaries, family programs, general entertainment, radio stations, and free to air channels; and premium channels consisting of 5 sports channels, 6 movie channels, The Rugby Channel, World TV, the Arts Channel, and Country TV. It also offers video on demand service for MY SKY and MY SKY HDI customers; and a range of sports, movies, entertainment, news, documentary, and pay-per-view program content. It has 851,561 subscribers. Sky Network Television is based in Auckland, New Zealand.]]>