Broadcasting

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CJ E&M to buy land in Seoul for 166,456,271,000 won

Thursday, 4 Feb 2016 01:59am EST

CJ E&M Corp:To buy land located in Seoul.Transaction amount of 166,456,271,000 won.

Giglio Group SpA buys 100 pct stake in MF Fashion‍

Monday, 1 Feb 2016 06:36am EST

Giglio Group SpA:‍Acquires 100 percent of MF Fashion SpA, an online market place for fashion.Total value of transaction is 5 million euros.Transaction value to be paid for 2.5 million euros in cash and for 2.5 million euros via issue of 1 million of Giglio Group new shares reserved for current MF Fashion shareholders.Agreement for acquisition of MF Fashion envisages an earn-out of counter value of up to 1.5 million euros, to be paid within and no later than March 31, 2018.

Nexstar Broadcasting Group enters into definitive agreement to acquire Media General for $4.6 Billion in accretive cash and stock transaction

Wednesday, 27 Jan 2016 08:46am EST

Nexstar Broadcasting Group Inc:To buy outstanding shares of Media General for $10.55 per share in cash,0.1249 of share of co's class a common stock for a Media General share.Says transaction has been unanimously approved by the boards of directors of both companies.Says completion of the transaction, expected late in the third quarter/early in the fourth quarter of 2016.Has received committed financing for deal totaling $4.7 billion from bofa Merrill Lynch, Credit Suisse, Deutsche Bank.Two Media General directors will join the Nexstar board of directors at deal closing.Says Nexstar intends to divest certain television stations necessary to obtain FCC approval of the proposed transaction.Says Nexstar will change its name to Nexstar media group, inc. upon the completion of the transaction.Media General and co shareholders will hold about 34% and 66%, respectively, of combined company's outstanding shares.Deal expected to more than double revenue and adjusted EBITDA and result in over $500 million of annual free cash flow.Nexstar media group's annual free cash flow per share is expected to exceed $10.50 per year over the 2015/2016 period.Bofa Merrill Lynch is acting as financial advisor and Kirkland & ellis llp is acting as legal counsel to Nexstar.

Television Francaise 1 acquires 70 pct of the Newen group‍​

Tuesday, 26 Jan 2016 11:49am EST

Television Francaise 1 SA:TF1 acquires 70% of the Newen Group.Acquisition follows after obtaining all clearance.

Corus Entertainment Inc to acquire Shaw media in a deal valued at C$2.65 billion

Wednesday, 13 Jan 2016 07:00am EST

Corus Entertainment Inc:To acquire Shaw media in transformational acquisition.Says deal valued at C$2.65 billion.Says acquisition expected to be immediately accretive to earnings and free cash flow per share.Says deal be paid through a combination of cash and Corus class b shares.Combination expected to generate $40-$50 million of annual cost synergies in addition to significant revenue synergies.Under terms of transaction, Corus agreed to acquire 100% of Shaw media for a total purchase price of $2.65 billion.Says rbc capital markets is providing fully committed financing in connection with the transaction.Says Corus intends to maintain its current annualized dividend of $1.14 per class b share.Corus intends to redeem 4.25% senior unsecured notes due February 2, 2020, of which $550 million principal is outstanding.Acquisition and refinancing of Corus debt will be funded with $2.3 billion of committed credit facilities, $560 million bridge financing.Sci will own approximately 39% of corus' total issued equity, including class a and b shares.Says sci has agreed to hold and not sell any of its Corus class b shares for the first 12 months following closing.Sci agreed to have 100% of Corus class b shares participate in corus' dividend reinvestment plan until at least August 31, 2017.

Videotron acquires Fibrenoire to meet growing demand in the Québec business market

Thursday, 7 Jan 2016 01:05pm EST

Videotron:has acquired Fibrenoire, a company that provides businesses with fibre-optic connectivity services.purchase price was $125 million.Fibrenoire is now an independent subsidiary of Videotron.

Nexstar Broadcasting Group Inc completes negotiation of transaction terms with Media General

Thursday, 7 Jan 2016 09:05am EST

Nexstar Broadcasting Group Inc:Completes negotiation of transaction terms with Media General.Terms under which co would acquire Media General for $10.55 per share in cash and 0.1249 of a share of Nexstar stock.Says terms contemplate additional consideration to Media General shareholders in the form of a contingent value right.Says intends to divest the tv stations necessary to obtain FCC regulatory approval of the proposed transaction.Says two Media General directors would join the Nexstar board of directors at deal closing.Negotiated deal reflects value of $17.66 per Media General share based on co's closing share price on January 6, 2016.

Shaw Communications Inc to acquire WIND Mobile Corp

Wednesday, 16 Dec 2015 06:02pm EST

Shaw Communications Inc:Agreed to acquire a 100% interest in Mid-Bowline Group Corp and its wholly-owned subsidiary WIND Mobile Corp for an enterprise value of approximately $1.6 billion.

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