•National digital advertising revenue trends improved, increasing 31.9% in Q4. •Declared dividend of $0.16 per share. •Cash balance at December 27, 2015 of $196.7 million. •Announced the acquisition of Journal Media Group, Inc. (JMG), expected to close in Q1 2016; forecast to add approximately $450 million in annual revenues and approximately $60 million in adjusted EBITDA in the first full year. Additional $25 million of synergies targeted for year two. •Achieved over 100 million unique domestic digital visitors. Total digital revenues for the fourth quarter were $165.3 million. Digital-only subscriptions grew 39%. •Announced the integration of Gannett's local and national media brands under the USA TODAY NETWORK brand.
(printweek.com) Dennis Publishing and its 30-plus titles have been acquired by private equity firm Exponent and the proceeds of the deal will fund the development of woodland in Warwickshire.
Following a bidding war, which saw the Daily Mail & General Trust’s (DMGT) attempt to acquire flagship Dennis title The Week thwarted by Exponent’s proposal to acquire the full company earlier this month, Dennis has been bought by Exponent for an undisclosed sum.
Initial reports from Sky News suggested Exponent could pay between £150m and £200m, with The Week alone valued at around £100m, although the final amount was unconfirmed.
Dennis’ titles are centred around four key areas – current affairs, technology, automotive and special interest – and alongside The Week include MoneyWeek – acquired last July – The Week Junior, Viz, Car Buyer and Computer Active.
Dennis chief executive James Tye said: “Dennis is and will continue to be the most dynamic media company in the UK. We have grown strongly every year now since 2009 and that growth ambition is absolutely shared by Exponent.
“As partners, Exponent recognise the potential Dennis has and want Dennis to grow in size, reach and stature under their ownership.
“It’s business as usual, with no changes planned. As partners, we share the belief that innovation and ambition are the keys to success and it’s this shared vision that will propel Dennis to its next phase of growth.”
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