S&P Global Market Intelligence provides a wrap-up of U.S. media and communications deal announcements and completions from March 27 to March 31.
* Match Group Inc closed the previously announced sale of its non-dating business to ST Unitas, a global education technology company, according to a March 31 statement. The company in February agreed to sell all of its non-dating business, which operates under the umbrella of The Princeton Review.
* Spotify Ltd bought content recommendation service MightyTV, according to a March 27 official blog post. The deal will enable Spotify to further develop its programmatic audio advertising, including its ad products and marketing technology platforms. MightyTV founder and CEO Brian Adams will join Spotify as vice president of technology, with a focus on advertising and marketing technology solutions. Further, MightyTV employees will be based in Spotify offices in New York, Toronto and Stockholm. Meanwhile, MightyTV's app will no longer be updated or available, effective immediately, according to its website.
* AMC Entertainment Holdings Inc. said March 28 that it closed on its purchase of Nordic Cinema Group Holding AB, the largest theater operator in the Nordic and Baltic countries, further fueling AMC's expansion into Europe. The 5.76 billion Swedish kronor ($651.9 million) all-cash transaction brings Nordic Cinema's 68 theaters and 463 screens under AMC Entertainment's umbrella. The Stockholm-based theater operator will be a subsidiary of London-based ODEON & UCI Cinemas Group Ltd, which AMC Entertainment acquired in November 2016. In addition to the cash price, AMC also repaid Nordic's indebtedness of about 1.27 billion kronor ($144.3 million) and about €156 million ($168.2 million) as of March 28. Jan Bernhardsson, Nordic Cinema Group's former president and CEO, has been appointed COO of Odeon Cinemas Group and executive vice president of AMC Europe. AMC expects the deal to result in about $5 million in annual cost synergies. Following the deal closing, AMC Entertainment operates about 1,000 screens in 15 countries, the company said. AMC acquired Nordic from European private equity firm Bridgepoint and Swedish media group Bonnier Holding.