merger & acquisition
Outerwall, which is parent to the Redbox movie rental service, is being acquired by Apollo Global Management for $1.6 billion, about $52 a share. Apollo plans to take the firm private.
Redbox, which rents DVDs to consumers through its network of more than 40,000 rental kiosks in the U.S., United Kingdom and Ireland, has been struggling as more consumers eschew digital media and opt for streaming or downloadable movies and TV shows instead. It also operated 21,000 Coinstar kiosks.
Verizon, the odds-on favorite to buy Yahoo, today finalized the deal, paying $4.83 billion for Yahoo’s Web assets and in the process expanding its digital advertising business.
AT&T has long maintained it can DIY it's over-the-top ambitions -- mostly -- but apparently, not anymore.
The telco today announced it is acquiring Quickplay, a Canadian OVP owned by Madison Dearborn Partners that has seen moderate success in Asia and elsewhere, most notably being the launch partner for Netflix competitor HOOQ.
Ericsson, which has acquired multiple new media companies over the past two years, has announced it plans to acquire entertainment metadata and rich media content supplier FYI Television, looking to leverage the company’s ability to help personalize content.
This post originally appeared in Broadcasting & Cable
The roll up in the digital video space continued today, with Cisco saying it was acquiring OTT TV app developer 1Mainstream, a privately held startup in Silicon Valley that offers a cloud-based video platform that helps digital content companies deliver their media assets to connected media devices like Apple TV to Microsoft Xbox
It hasn’t reached the level of vitriol seen in Comcast’s aborted attempt to acquire Time Warner Cable, but opposition to Charter’s bid to acquire TWC is picking up as competitors, public interest groups, industry accosiations and vendors put pressure on the FCC to block the deal that would make Charter the second largest cable operator in the U.S.
NAB wants station ownership review first
The consolidation of the TV ad tech industry continues unabated, with Cross MediaWorks announcing today it had acquired BlackArrow, which provides software solutions to help pay-TV providers deliver ads and audience insights across multiple screens.
The dynamic ad insertion specialist has a number of the biggest pay-TV providers as customers, including Time Warner Cable, Comcast, Charter Communications, Bright House Networks, Rogers Communications, Liberty Global and Virgin Media.
Further consolidation in the pay-TV set-top box sector as U.K.-based Amino Technologies has conditionally purchased one of its competitors in the space, U.S.-based Entone.
Amino said the deal would be worth some $73 million.
In addition to absorbing a direct competitor, the deal also gives Amino some immediate scale and some immediate cost synergies.
Liberty Global continues to consolidate in Europe, this time with the proposed buy of Ireland’s TV3.
It’s been a long time coming, but the AT&T buy of DirecTV could earn regulator approval as early as next week, according to published reports.
Reuters, quoting unnamed sources, said the Justice Department already has completed its review of the $48.5B acquisition, and is waiting for the Federal Communications Commission to wrap up its examination.
Charter Communications today said it was acquiring Time Warner Cable and would take a majority share in Bright House Networks in a deal that would make Charter the second largest cable operator in the United States.
The deal values Time Warner Cable at $78.7 billion (the deal is worth $55.33 billion excluding debt).
Charter also will pay Advance/Newhouse Partnership – the parent of Bright House -- $10.4 billion for an 86% share of the smaller cableco.