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VIEWPOINT

Corporate restructuring to drive mid-sized deals
The lack of transformational European media deals in 2009 was no surprise. Most major media companies spent much of the year focusing on restructuring their debts and reducing their cost base, while the lack of available leveraged finance continued to stymie private equity-driven deals. However, with the major European economies slowly trundling along the road to recovery, there is widespread expectation that the year ahead will see a significant upturn in media M&A. If this is true, what size will these deals be and what sector will they come from?

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PEOPLE

Tiger MD takes the leap
UK independent producer Tiger Aspect's managing director Andrew Zein is leaving the company to join Warner Bros' international TV unit within the next couple of months.

SPECIAL REPORT

The importance of being online
Eva Berg-Winters, expert, PricewaterhouseCoopers LLP, explains the impact of the digital revolution on the world of advertising

TODAY'S TOP STORIES 04:38, 09 Feb 2010

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Magazine publisher Aller has sold its last remaining B2B titles. The buyer is Danske Fagmedier, which focuses on trade and specialised magazines....

DENMARK:  mobilePeople in receivership rumour

Mobile advertising start-up mobilePeople has filed for receivership, claims a local report....

FRANCE:  DTT player buys out rival

French DTT distributor TV Numeric has acquired rival TNtop in a bid to break into the pay-DTT market. By merging, the two loss-making channels hope to be better able to compete with heavyweight Canal +....

FRANCE:  TF1 nears clearance for digital spree

TF1 is set to receive regulatory clearance for its takeover of Groupe AB's free-to-air digital channels, TMC and NT1, say media reports. The Competition Authority is due to issue its verdict on January 26. If it goes through, TF1 will buy 40% of TMC ...

FRANCE:  Le Monde in talks to sell Le Post

Newspaper publisher Le Monde is in talks to sell its social news site Le Post to Lagardère while its printing plant could go into Spanish hands, say media reports....

GERMANY:  KDG seeks amendments to free up cash

German cable operator Kabel Deutschland (KDG) has asked lenders to amend some of the terms on its senior credit facilities and to delay repayment until 2014....

GERMANY:  Sky Deutschland completes News Corp led capital increase

German broadcaster Sky Deutschland has raised E110m following the completion of News Corp's purchase of just over 49 million shares at E.25 per share....

GERMANY:  Springer takes on Oncology journal

Publishing firm Springer Science + Business announced that it has signed an agreement with the International Society of Oncology and BioMarkers (ISOBM) to co-publish the journal Tumor Biology, effective January 2010....

GERMANY:  WE and ISM buy into hotel digital content firm

PhilWeb Corp (WEB) and ISM Communications Corp (ISM) have acquired a 65% stake in Acentic, a supplier of digital interactive TV systems for the hotel industry, from UK-based private equity fund Global Innovation Partners....

GERMANY:  Das Vierte up for sale?

German press is reporting that TV channel Das Vierte has come on the block, as owner Dmitry Lesnevsky is allegedly keen to sell up....

GERMANY:  CityDeal raises E4m for national expansion

An investment group comprising eVenture Capital Partners, Holtzbrinck Ventures and Rocket Internet has invested E4m in customer price rating website CityDeal.de. Proceeds are to be used to fund a nationwide marketing offensive....

ITALY:  Seat agrees E650m bond

The board of Seat PG will issue a E650m seven-year bond as part of measures agreed with RBS to refinance and extend the maturity on its E2.78bn debt....

NETHERLANDS:  Chairman seeks Dutch public broadcaster consolidation

The chairman of Dutch public broadcasting association Nederlandse Publieke Omroep, Henk Hagoort, has stressed the need for consolidation in the Dutch broadcasting market over few years, having criticised the current number of public broadcasters as u...

SPAIN:  Ono suggests refi deal

Private equity-backed cable group Ono has approached lenders with a set of proposals to refinance part of its E3.6bn senior debt, expiring in 2013....

SPAIN:  Sluggish DTT rollout makes first casualty

Nordic VC-backed Airplus has reportedly abandoned plans to launch its pay-TV offer, Dahlia TV, in Spain....

SPAIN:  EC investigates RTVE funds

The European Commission has told Spain to halt RTVE's new funding plan until an investigation into the public broadcaster's finances is completed....

SWEDEN:  AOL exits Sweden and Spain as part of Europe layoffs

Internet group AOL has announced that it will close down its offices in Spain and Sweden as part of plans to cut 1,400 jobs worldwide....

UK:  Virgin raises £1.5bn in record breaking junk bond issue

Virgin Media has raised £1.5bn through a dual-denominated bond issue as it seeks push out the maturity on its debt. Proceeds from the offering are to be used to prepay the majority of the UK media group's outstanding tranches under its senior credit ...

UK:  BSkyB loses ITV stake appeal

Satellite broadcaster BSkyB has lost its challenge at the Court of Appeal over the Government's decision to force it to reduce its 17.9% stake in ITV....

UK:  Latitude raises cash in pre-pack MBO

Digital marketing agency Latitude has carried out a pre-pack administration resulting in its management and its existing major shareholder, private equity firm Vitruvian Partners, increasing their stakes in a newly formed company entitled Latitude Di...