Hot Topic - Venture Capital and Private Equity
A great revival in media mergers and acquisitions seems ever so much closer. Financial markets are still fat with cash as are the big global media groups. Yet huge deals, big enough to rearrange the dinner table, remain just a shout away.
When a private equity firm invests in a company a clock, genetic certainly, starts ticking. Nobody hears it at first, the sound drowned out by plaudits and arriving cash. The volume increases gradually until nothing else can be heard.
Media mergers and acquisitions may rise in the second half of the year. Financial investors are prowling as big companies try to get out from under debt. Always illusive synergies are still hard to grasp.
Location, of course, plays to the advantage of the World Economic Forum being in Davos, Switzerland. It’s tough getting there. Ten hours by train from Geneva when the helicopters are all booked. Even at that the WEF seems a million miles from anywhere, which is, of course, the point.
Big media is moving on. It’s the one constant even in times of turmoil. Broadcasters change, renew, adapt, fall flat, try again, win some, lose some. Executives take this change in stride. Recent corner office changes at big league broadcasters show just how much change is in the air.
Trend spotting is a delicate art. Whether consumer trends or financial trends, waves of the future appear to the truly gifted. And today, there’s always a press release. Somebody always finds good news in any trend.
The New York Times Company has agreed to add two directors proposed by two private equity funds that now hold 19% of the company, but in reality nothing really changes – the Sulzberger/Ochs families still have complete control.
Broadcast outlets in Eastern Europe were a magnet for venture capital investment before the 2004 EU accession. Media deals in Hungary, Poland and the Czech Republic attracted first or second round financing from specialized investment funds. The tide is turning.
See also in ftm Knowledge
Big Media Deals - Consolidators, Moguls, Private Equity and End Games
Big media deals are exciting to watch. The recent biggest deals - Dow Jones, ProSiebenSat, the Tribune Company and Emap - show the effects of the business cycle meeting dreams, strategies and private equity. This ftm Knowledge file details these four BIG MEDIA DEALS and their effects. 83 pages PDF (March 2008)
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Media in Russia – new
Media in Russia is big business and big politics. Media companies are consolidating as they move into new media and new territories. At the same time independence is still questioned. It's all changing. ftm looks at media in Russia and its neighbors, includes Resources, 124 pages. PDF file (January 2012)
Press/Media Freedom - Challenges and Concerns
Press and media freedom worldwide is facing challenges from many corners. As authoritarian leaders impose strict control over traditional and new media with impunity, media watchers have concerns for democracy. This ftm Knowledge file accounts the troubles of this difficult decade. 88 pages. PDF (December 2011)
Europe's Radio - Western Europe
Opportunity meets tradition in Western Europe's radio broadcasting. Change has come fast and yet oh, so slowly. This ftm Knowledge file contains material and resources on public and private radio broadcasting in Austria, Belgium, France, Germany, Netherlands and Switzerland. 156 pages. Resources. PDF (December 2011)
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