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CenturyLink closes assets sale; Zynga buys game developer

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CenturyLink closes assets sale; Zynga buys game developer

S&P Global Market Intelligence provides a wrap-up of U.S. companies' media and communications deal announcements and completions from May 28 to June 1.

* CenturyLink Inc. closed the sale of certain former Level 3 metro network assets in the Albuquerque, N.M., area to Unite Private Networks LLC. The sale is in connection with a previously announced agreement CenturyLink entered into with the U.S. Department of Justice to sell former Level 3 metro fiber network assets in the metro areas of Albuquerque, Boise, Idaho, and Tucson, Ariz., in connection with the acquisition of Level 3 Communications Inc. CenturyLink said June 1 that it will continue to serve all former Level 3 customers in Albuquerque unless they choose to be served by Unite Private Networks. The sale to Unite Private Networks does not include or affect the Albuquerque area networks and business assets CenturyLink operated before the Level 3 acquisition. CenturyLink retains those assets and will continue to provide telecommunications services to residential and business customers in Albuquerque.

* Financial news streaming service Cheddar Inc. acquired MTV Networks on Campus distribution platform from Viacom Inc., The Wall Street Journal reported May 31. The small news and entertainment platform for college campuses will be renamed CheddarU and will feature content from Cheddar's flagship financial news streaming service and segments from Cheddar Big News. The deal includes licensing agreements that Viacom has signed with 600 campuses.

* Quotient Technology Inc. agreed to buy Ahalogy, a marketing company that delivers content across social media channels for consumer packaged goods brands. Quotient will pay about $20 million cash in upfront consideration. Additionally, contingent consideration of up to $30 million in cash may become payable upon the achievement of certain financial metrics from closing through fourth quarter 2019. The deal is expected to close in June 2018. Quotient anticipates that the deal will improve its performance media services for consumer packaged goods and retailers, the company said June 1. Bob Gilbreath, who co-founded Ahalogy in 2012 and serves the company as CEO, will continue to run the Ahalogy team. Quotient Technology is a digital promotions, media and analytics company.

* Helios & Matheson Analytics Inc., the majority owner of movie subscription service MoviePass Inc., plans to buy Emmett Furla Oasis Films and use its assets to launch a MoviePass-branded production company, Variety reported May 30. Emmett Furla Oasis Films executives Randall Emmett and George Furla would serve as co-CEOs of the new MoviePass Films, the report said.

* Zynga Inc. purchased privately held mobile game developer Gram Games for $250 million in cash and a three-year earnout based on the team's achievement of profitability goals that align with Zynga's long-term growth plans. The acquisition of Gram Games aligns with Zynga's plans to grow its live services, create new franchises and build out its capabilities on emerging platforms, the company said in a May 30 news release. Zynga will use its live services expertise to grow the Gram Games portfolio. Zynga also expects to bring its Studio Operations and Publishing organization expertise to Gram Games. Founded in 2012, Gram Games is a mobile game developer with studios in London and Istanbul.

* Global investment firm KKR & Co. LP has agreed to acquire BMC Software Inc. from a private investor group led by private equity firms Bain Capital LP and Golden Gate Capital. GIC Pvt. Ltd., Insight Venture Partners LP and Elliott Management Corp. are also part of the investor group. The deal, expected to close in the third quarter, is subject to regulatory approvals and other customary closing conditions.

* Arizona-based chipmaker Microchip Technology Inc. said it completed its $10.15 billion acquisition of Microsemi Corp., following the approval of the target's shareholders May 23. Under the terms of the deal, Microsemi shareholders received $68.78 in cash for each share of Microsemi common stock. Microchip said it expects an estimated $300 million in synergies in the third year after the close of the transaction.

* U.S. music streaming service Pandora Media Inc. completed the acquisition of AdsWizz, a provider of digital audio ad technology. At closing, Pandora paid $66.3 million in cash and 9.9 million shares of Pandora common stock for the company. An additional $5 million in cash is payable upon achievement of certain milestone provisions in connection with the acquisition. AdsWizz will operate as a stand-alone subsidiary of Pandora, continuing under Alexis van de Wyer's leadership, the company said May 29.

* Tronc Inc. acquired all of the outstanding interests of The Virginian-Pilot Media Cos. LLC, including The Virginian-Pilot, PilotOnline.com, as well as Pilot Targeted Media from Landmark Media Enterprises LLC. According to a May 29 news release, the company bought the assets for $34 million, subject to customary closing conditions. As part of the transaction, tronc also acquired The Virginian-Pilot's real estate portfolio, including its headquarters in downtown Norfolk, Va., its printing and distribution facilities in Virginia Beach, Va., and a number of satellite offices in Norfolk and North Carolina.