Genuine Manufacturers Group (ABG), a worldwide model improvement, advertising and entertainment firm. At present announced the completion of the acquisition of Sports Illustrated's Mental Property Rights. From Meredith Corporation (NYSE: MDP; www.Meredith.com). A leading media and advertising firm that reaches 175 million US shoppers per 30 days. By way of print, digital, cellular, video, social and tv corporations. This changing acquisition provides a brand new vertical to ABG's growing platform and product portfolio. It at present generates over $ 9.3 billion in international retail sales annually.
"We are honored to welcome Sports Illustrated to the ABG family," stated Jamie Salter, ABG's founder, chairman and CEO. “SI is the focus of culture as some of the iconic sports media brands. Big progress alternatives with their rising digital, television and social platforms. Additionally the business's leading print magazine. Because of SI's trusted identify and passionate follow-up, the model will develop into a pacesetter in way of life and leisure. "
With this acquisition, ABG will type a strategic partnership with the versatile media messenger Meredith. Construct a worldwide platform that brings together the worlds of sport, culture and entertainment. ABG is responsible for the advertising, business improvement and licensing of the mental property and model of Sports Illustrated. Although print magazine and SI.com keep editorial independence. And continue with Meredith and editor-in-chief Chris Stone and publisher Danny Lee.
“We are delighted to find a great home for Sports Illustrated, ABG. One of the world's leading brand owners and licensors. ”- Jon Werther, President, Meredith National Media Group. “We are also excited concerning the opportunity to completely integrate Sports Illustrated printing with Meredith. We consider that our confirmed experience in content creation, sales and advertising will enormously enhance the vitality and profitability of those channels. “
Sports Illustrated is the world's most read sports magazine and undisputed chief in journalism with an viewers of over 120 million shoppers. The company consists of the fastest growing prime ten sports sites, a layered print magazine, rising tv and digital platform, Emmy-winning digital innovation, and sustainable franchising packages akin to Sports Illustrated Swimsuit and the nationally televised Sportsperson Awards. The print journal has shaped the talk surrounding the sporting tradition of the past six many years, publishing hundreds of covers that includes the world's most annoying skilled athletes reminiscent of Michael Jordan, Muhammad Ali, Serena Williams and Tiger Woods, in addition to influential sports teams, celebrities and political figures.
"Sport is a great way to bring people together – regardless of gender, race or socio-economic status, the experiences shared by sports fans around the world are unifying and lasting," stated ABG CEO Nick Woodhouse. “As a designer and a cultural phenomenon, Sports Illustrated has created for its readers moments and experiences unmatched by any other sports brand. We look forward to working with Meredith to expand the legacy of Sports Illustrated and connect the brand with new audiences around the world. ”
“ We’re excited concerning the Authentic Manufacturers Group and Meredith sharing the imaginative and prescient of SI management to build. premium sports suspension. "Said Chris Stone, editor-in-chief of Sports Illustrated. “In addition to continuing to produce independent, award-winning journalism and storytelling. What Jamie Salter has described as the heart of SI. Now, with the support and resources of ABG, we are in a great position to succeed in many other locations. Events and conferences, licensing, gambling and gaming, IP development, especially on video and TV, to name a few. Everyone will continue to benefit from Meredith's leadership in the media industry. "
" This strategic partnership brings a new approach to media brand development. We are delighted to use the strengths of Meredithand ABG to improve and build the undisputed value of Sports Illustrated. ”- John Zieser, Development Director, Meredith. "We will even combine our world-class media surroundings and our shopper viewers with ABG's model improvement, advertising and licensing experience to develop different media-based capabilities across the company's product portfolio."
- The acquisition consists of SI associated manufacturers comparable to Sports Illustrated ™, Sports Illustrated Youngsters ™, Sports Individual of the Yr, Sports Illustrated Swimsuit, SI ™ and SI TV.
- The transaction won’t embrace the FanSided digital platform that Meredith is presently selling.
- ABG also acquires rights to over 2 million icon photographs as part of Sports Illustrated's owned images archive.
- ABG is responsible for the advertising, business of Sports Illustrated's intellectual property and brand improvement and licensing actions.
- Meredith can pay ABG a license charge of g to take care of Sports Illustrated and SI.com for no less than two years.
- ABG and Meredith have established a strategic partnership to construct a worldwide media platform encompassing print, digital, cellular, video, social, and television.
- ABG and Meredith mix their strengths to create different strategic, media-based alternatives for free ABG-owned brands.
- develops in depth licensing packages for ABG underneath Sports Illustrated. model, complete product, unique content, and stay events.
- ABG additionally sees a big opportunity to leverage Sports Illustrated's trusted identify and digital infrastructure to position the brand as a pacesetter in sports and sports games.
Meredith bought as a part of Sports Illustrated. Shortly thereafter, Meredith introduced that it might promote certain Time Inc. news and sports manufacturers. Meredith has generated about $ 201 million in tax in 2019. All from TIME, FORTUNE and Sports Illustrated. That determine is in addition to almost $ 300 million. Meredith taxed on the sale of Time Inc. belongings in 2018.
Merideth makes use of transaction proceeds to repay debt. With the sale of Sports Illustrated, Meredith has settled a debt of roughly $ 900 million by June 30, 2019. Meredith plans to repay a brand new $ 100 million debt through the first quarter of 2020 (ending September 30, 2019) upon completion of the sale.
Paul Weiss, Rifkind, Wharton & Garrison LLP acted as legal adviser to the Authentic Manufacturers Group in the transaction.
Houlihan Lokey (NYSE: HLI) served as financial advisor and Cooley LLP Meredith authorized advisor on the transaction.
About Meredith Company
Meredith Corporation has been dedicated to journalism for over 115 years. At present, Meredith makes use of a number of distribution platforms. From tv, print, digital, cellular and video packages Provide shoppers with the content material they need. And to ship messages from their promoting and advertising partners.
The National Media Group reaches over 175 million untreated American shoppers every month, together with greater than 80 % of girls in america for the millennium. Meredith is a pacesetter in creating content for media platforms and life levels in areas of significance to shoppers, similar to leisure, food, way of life, parenting and residential. Meredith is a number one journal operator in america. Owner of a premium digital network for American shoppers. Meredith's main national manufacturers are as follows. PEOPLE, Better Houses & Gardens, InStyle, All Recipes, REAL SIMPLE, SHAPE, Southern Dwelling & Martha Stewart Dwelling. Meredith additionally has a robust brand licensing enterprise with over 3,000 SKUs of branded products at 4,000 Walmart stores in the US and walmart.com. Meredith's nationwide media group additionally consists of leading affinity marketer Synapse and The Foundry, the company's high-tech artistic lab and content studio.
They embrace 17 television stations, which attain 11 % of US households. Meredith's portfolio is concentrated on giant, fast-growing markets. The nation's prime 25 markets have seven positions – including Atlanta, Phoenix, St. Louis and Portland, and 13 – 50 within the prime. Meredith stations produce over 700 hours of local news and entertainment per week. And manages main native digital belongings. Meredith additionally owns MNI Focused Media, which delivers focused advertising solutions to over 1,200 clients at native, regional or national degree.
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