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Disney closes $71B Fox acquisition; TEGNA, Scripps buying 19 Nexstar TV stations

S&P Global Market Intelligence provides a wrap-up of U.S. companies' technology, media and telecommunications deal announcements, completions and updates from March 19 to March 25.


* MC Group, a portfolio company of AIM Group Holding Ltd., also known as Arcapita, acquired Coastal Signage + Wayfinding for an undisclosed sum. Coastal Signage + Wayfinding provides exterior and interior branding and wayfinding products, including signage, graphics, fixtures/displays, architectural elements and façade cladding, while MC Group provides signage, lighting, electrical and energy management solutions.

* Nexstar Media Group Inc. is selling 19 television stations in 15 markets for $1.32 billion in cash following the acquisition of Tribune Media Co. by Nexstar. TEGNA Inc. will acquire 11 stations in eight markets for $740 million, while E.W. Scripps Co. will buy eight stations in seven markets for $580 million. Nexstar is also in talks to sell two other stations in Indianapolis, the company said March 20.

* Remark Holdings Inc. entered into an agreement to sell its online travel booking website LLC to VDC-MGG Holdings LLC, an affiliate of the company's senior lenders, for an enterprise value of about $45 million. The transaction is expected to close in the second quarter, subject to certain closing conditions, including approval of the transaction by Remark's stockholders.


* United American Corp Inc. completed the acquisition of TNW Wireless Inc., a wireless operator for wholesale and retail services in Canada, from Investel Capital Corp. Under the share exchange agreement, Investel received 35 million common shares of United American based on a valuation of 15 U.S. cents per share in exchange for all issued and outstanding shares of TNW Wireless, according to a March 22 news release.

* As expected, Walt Disney Co.'s deal to acquire 21st Century Fox Inc. took effect March 20 at 12:02 a.m. ET, for a total transaction value of about $71 billion. Disney's acquisition, with a per-share merger value of about $51.57, includes about $19.8 billion of cash and about $19.2 billion of debt of Fox. The completion of the Fox/Disney deal came a day after 21st Century Fox and Fox Corp.'s split to become two stand-alone public companies.

Disney's acquisition includes 21st Century Fox's movie and TV studios, the FX Networks and National Geographic Partners and its 22 regional sports networks. Additionally, the agreement gives Fox's stake and a controlling interest in streaming service Hulu LLC to Disney.

* Group Inc. sold its dental software unit Lighthouse 360 to Henry Schein Inc. Financial terms of the transaction were not disclosed. Sugar Hill, Ga.-based Lighthouse 360 offers dental practice management and patient communication software that automates dentists' daily consumer interactions and office routines such as appointment reminders.