MarkMeets, a UK-based media conglomerate, is in talks to sell five of its key brands to a consortium of investors led by London-based News Group in a deal worth up to £11.2 million.
London, United Kingdom, 15th Jan 2023 – News UK has expressed preliminary interest in several of MarkMeets Media owned companies including ‘CultCrunch’, ‘UK Film Premieres’, and three other subsidiary brands in a move that will bring the global investment firm that owns The Sun, Talk Sport, and Talk TV, a step closer to a deal with the existing owner who is said to be “Looking to cash out”. The decision comes months after the publisher pulled out of a deal to go public through a special purpose acquisition company (SPAC).
London-based entrepreneur Mark Boardman who founded the five businesses includes a creative communication and PR agency, celebrity management and events company, a news site, and a marketing arm across the entertainment, arts, and culture industries more than a decade ago.
The strategic move follows a company reorganization this week, though now a second global firm Hearst, a leading global services and media company is also looking to divide up the company’s assets, and is believed to be seeking funding options to validate whether investing equity at this time would be viable given the economic climate. The acquisition would ensure the main arm and money-making brand MarkMeets PR which has 1,100 existing customers including Yahoo, MTV, The Telegraph, and Global Radio will remain unaffected, and continue to run independently as it has been since its inception in 2002.
“With a diverse range of digital content and public relations services, it would be a worthy addition to billionaire owner Rupert Murdoch’s news division, increasing its market share and diversifying the billionaire’s portfolio of companies, with additional investment planned for Europe through 2024“, a source leaked.
The holding company fronted as MarkMeets.com has been undergoing a digital transformation and has taken on a number of new employees in the past 12 months. With continued growth, it wants to focus on just the single brand and move into live event management.
“Our world-class content provides a responsible and brand-safe context for our commercial partners to reach millions of engaged and inspired consumers in a highly targeted and impactful manner,” said founder and main shareholder Mark Boardman who spoke at a 2019 London business conference.
Neither News nor MarkMeets representatives have commented.
About MarkMeets Media
MarkMeets is a leading global professional media services company that helps the world’s leading businesses and other organizations build their digital core, optimize their operations, accelerate revenue growth and enhance branding — creating tangible value at speed and scale. The people and innovation led company serves clients in more than 125 countries. Content is at the core of change today combining strength in technology with unmatched industry experience, functional expertise and global delivery capability to help clients succeed and build trusted, lasting relationships.
About News UK
News Corp is home to some of the world’s most trusted brands, using over 200 years of history to enlighten our present and inform our future. News Corp UK & Ireland Limited is a British newspaper publisher, and a wholly owned subsidiary of the American mass media conglomerate. Rupert Murdoch, owner of The Adelaide News, Sydney Mirror and The Australian, in Australia bought The News of The World and became Managing Director of the company which saw profits grow by a third to $1.67bn (£1.38bn) in 2022.
Organization: SHOWBIZ MARKETING SERVICES LIMITED
Contact Person: Nick Wood
Country: United Kingdom
Release Id: 1501232206
The post News UK seeks to acquire MarkMeets subsidiary brands in 11.2m takeover appeared first on %BLOGLINK%%.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No The Insure Life journalist was involved in the writing and production of this article.