http://www.businessinsider.com/wpp-doubles-its-money-in-omniture-deal-2009-9
One winner in Adobe's $1.8 billion deal to acquire Web analytics company Omniture: WPP Group, the ad giant, which invested $25 million in Omniture in January and stands to more than double its money.
Monday, November 23, 2009
An Advertising Rebound?
http://www.forbes.com/2009/10/30/wpp-advertising-consumers-markets-economy-media.html?partner=yahootix
The company's head, media veteran Martin Sorrell, gave his usual appraisal of the global economy and the advertising world, giving observers the chance to glean small signs of hope: "There is little doubt that consumer and corporate confidence has recovered somewhat from the panic levels of the fourth quarter of 2008 and first quarter of 2009," he said.
"Confidence, however, remains fragile amongst consumers, because of the shadow of high unemployment levels and amongst corporates… Whilst the hearts of CEOs and CMOs are stronger and their minds clearer, increased confidence is still not transferring to their check-writing hands."
The company's head, media veteran Martin Sorrell, gave his usual appraisal of the global economy and the advertising world, giving observers the chance to glean small signs of hope: "There is little doubt that consumer and corporate confidence has recovered somewhat from the panic levels of the fourth quarter of 2008 and first quarter of 2009," he said.
"Confidence, however, remains fragile amongst consumers, because of the shadow of high unemployment levels and amongst corporates… Whilst the hearts of CEOs and CMOs are stronger and their minds clearer, increased confidence is still not transferring to their check-writing hands."
Cosmos raises bid for ad agency Cossette
http://www.reuters.com/article/marketsNews/idCAN1746684320091118?rpc=44
* Offer is Cosmos' third and most aggressive since July
* Matches earlier private equity offer
* Cosmos says could go higher if allowed into data room (Adds details, byline)
By Pav Jordan
TORONTO, Nov 17 (Reuters) - Canada's Cosmos Capital raised its takeover offer late on Tuesday for advertiser Cossette Inc (KOS.TO), matching a rival offer by a U.S. private equity group and saying it could go even higher.
The offer valued Cossette at C$131.5 million ($125.1 million) and is the third attempt by Cosmos to take over Canada's largest homegrown advertising agency.
It is also its most aggressive, and a source close to the negotiations said it would force rival Mill Road Capital to either raise its own C$131.5 million bid, or back down from the takeover battle.
Cossette is small by international standards -- ranked about 23rd globally -- but is a giant in Canada, where it grew from a tiny shop in the early 1970s to a transnational firm with clients including McDonald's (MCD.N) Restaurants of Canada, Bell Canada (BCE_pe.TO), General Motors of Canada and Coca-Cola Ltd (KO.N).
Cossette's allure includes a strong presence in Canada's French-speaking province Quebec, a difficult market to crack for foreign companies, as well as assets in Britain, where it set up in 2003.
Cosmos, advised by Genuity Capital Markets, controls 18.7 percent of Cossette. It also has lock-up agreements with Bergundy Asset Management, which holds 11.1 percent, and Beutel Goodman & Co, with 7.6 percent of the shares.
"By matching, Cosmos has secured those and what that means is that the Mill Road transaction can't go forward," the source said, because the Mill Road offer would need support of two-thirds of the shares to go forward.
The source said the decision to match, and not exceed, the Mill Road offer was based on the need to secure the lock-up agreements.
Cossette could not be reached for immediate comment.
Like Mill Road's Nov. 10 bid, Cosmos offered C$7.87 per share, all cash, for each of the approximately 16.7 million issued and outstanding subordinate voting shares of Cossette.
The offer was fully financed, but it was conditional to due diligence and to receiving access to Cossette's virtual data room after it was barred from it in July, following its first hostile bid.
The offer on Tuesday bettered a C$5.25 a share, C$88 million, offer by Cosmos in October and a July offer at C$4.95 a share.
* Offer is Cosmos' third and most aggressive since July
* Matches earlier private equity offer
* Cosmos says could go higher if allowed into data room (Adds details, byline)
By Pav Jordan
TORONTO, Nov 17 (Reuters) - Canada's Cosmos Capital raised its takeover offer late on Tuesday for advertiser Cossette Inc (KOS.TO), matching a rival offer by a U.S. private equity group and saying it could go even higher.
The offer valued Cossette at C$131.5 million ($125.1 million) and is the third attempt by Cosmos to take over Canada's largest homegrown advertising agency.
It is also its most aggressive, and a source close to the negotiations said it would force rival Mill Road Capital to either raise its own C$131.5 million bid, or back down from the takeover battle.
Cossette is small by international standards -- ranked about 23rd globally -- but is a giant in Canada, where it grew from a tiny shop in the early 1970s to a transnational firm with clients including McDonald's (MCD.N) Restaurants of Canada, Bell Canada (BCE_pe.TO), General Motors of Canada and Coca-Cola Ltd (KO.N).
Cossette's allure includes a strong presence in Canada's French-speaking province Quebec, a difficult market to crack for foreign companies, as well as assets in Britain, where it set up in 2003.
Cosmos, advised by Genuity Capital Markets, controls 18.7 percent of Cossette. It also has lock-up agreements with Bergundy Asset Management, which holds 11.1 percent, and Beutel Goodman & Co, with 7.6 percent of the shares.
"By matching, Cosmos has secured those and what that means is that the Mill Road transaction can't go forward," the source said, because the Mill Road offer would need support of two-thirds of the shares to go forward.
The source said the decision to match, and not exceed, the Mill Road offer was based on the need to secure the lock-up agreements.
Cossette could not be reached for immediate comment.
Like Mill Road's Nov. 10 bid, Cosmos offered C$7.87 per share, all cash, for each of the approximately 16.7 million issued and outstanding subordinate voting shares of Cossette.
The offer was fully financed, but it was conditional to due diligence and to receiving access to Cossette's virtual data room after it was barred from it in July, following its first hostile bid.
The offer on Tuesday bettered a C$5.25 a share, C$88 million, offer by Cosmos in October and a July offer at C$4.95 a share.
D&B, Carlyle named as possible InfoGroup bidders
Reuters news service has reported that Dun & Bradstreet and private equity company Carlyle Group are possible bidders to purchase direct marketing holding company InfoGroup. Reuters cited sources familiar with the negotiations.
Also named as a possible bidder by the news service was interactive marketing services company Acxiom Corp., but on Wednesday Acxiom issued a statement denying it was interested in acquiring InfoGroup.
The Omaha World-Herald reported that InfoGroup was on the block and that at least 33 potential bidders had signed confidentiality agreements to gain access to financial information to prepare offers. Late last year the company hired financial adviser Evercore Partners to help determine future plans.
The company did not deny the report, saying it is “continually evaluating the operations and prospects for the company to determine what course is best for our shareholders.”
http://www.btobonline.com/apps/pbcs.dll/article?AID=/20091111/FREE/911119997/1078/newsletter011
Also named as a possible bidder by the news service was interactive marketing services company Acxiom Corp., but on Wednesday Acxiom issued a statement denying it was interested in acquiring InfoGroup.
The Omaha World-Herald reported that InfoGroup was on the block and that at least 33 potential bidders had signed confidentiality agreements to gain access to financial information to prepare offers. Late last year the company hired financial adviser Evercore Partners to help determine future plans.
The company did not deny the report, saying it is “continually evaluating the operations and prospects for the company to determine what course is best for our shareholders.”
http://www.btobonline.com/apps/pbcs.dll/article?AID=/20091111/FREE/911119997/1078/newsletter011
Leader Enterprises acquires Bottlecap Development
Marketing agency Leader Enterprises announced the acquisition of Bottlecap Development, an Atlanta-based Web development company. Financial terms of the deal were not disclosed.Bottlecap becomes a wholly owned subsidiary of Leader and will continue to operate under the Bottlecap name. Jeremy Morris, founder and president of Bottlecap, was named president of the digital media group at Leader.
http://www.btobonline.com/apps/pbcs.dll/article?AID=/20091118/FREE/911189992/1078/newsletter011
http://www.leaderenterprises.com/leader_bottlecap_press_release.pdf
http://www.btobonline.com/apps/pbcs.dll/article?AID=/20091118/FREE/911189992/1078/newsletter011
http://www.leaderenterprises.com/leader_bottlecap_press_release.pdf
Radio's Q3 Dials Up Slightly
Radio revenue improved slightly in third quarter but was still bouncing along the bottom, according to figures released Friday (Nov. 20) by the Radio Advertising Bureau.
Local and national advertising was down 19 percent to $3.4 billion, compared to a 25 percent drop in third quarter. Year-to-date, radio revenue is down 23 percent to $9.7 billion.
Other radio segments had a better quarter. Network radio was down 11 percent to $253 million.
Off-air revenue was down 9 percent to $335 million. Digital continues to be a bright spot in the radio business, up 14 percent to $126 million.
http://www.mediaweek.com/mw/content_display/news/local-broadcast/e3ied5661580e6e68a1c35ca699ac74456c
Friday, November 13, 2009
AIMS looking for acquisitions
For the next stage of AIMS development through acquisitions, the company is concentrating in the areas of public affairs, digital marketing and public relations. Based on current growth in government affairs expenditures, and on past successes by IKON Public Affairs in campaign and election management and political consulting, AIMS is focused heavily on growing its government, advocacy and political affairs business. IKON is a wholly-owned subsidiary of AIMS.
“Because of our past success in this space and significant ongoing opportunity, we are focusing on growth efforts in the public sector,” said AIMS CEO Gerald Garcia, Jr. “We also see growth opportunities in the commercial sector, with emphasis on digital marketing and public relations. The combination of our public and commercial sector M&A initiatives will be critical to our long-term business development, growth and success. We appreciate the invaluable assistance, counsel and guidance we are receiving from Maxim’s management as we work through the final stages of our next round of acquisitions.”
http://finance.yahoo.com/news/AIMS-Worldwide-Signs-MA-bw-3790560659.html?x=0
“Because of our past success in this space and significant ongoing opportunity, we are focusing on growth efforts in the public sector,” said AIMS CEO Gerald Garcia, Jr. “We also see growth opportunities in the commercial sector, with emphasis on digital marketing and public relations. The combination of our public and commercial sector M&A initiatives will be critical to our long-term business development, growth and success. We appreciate the invaluable assistance, counsel and guidance we are receiving from Maxim’s management as we work through the final stages of our next round of acquisitions.”
http://finance.yahoo.com/news/AIMS-Worldwide-Signs-MA-bw-3790560659.html?x=0
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