Ascential PLC Sale of MediaLink (8200V)
December 16 2021 - 2:00AM
UK Regulatory
TIDMASCL
RNS Number : 8200V
Ascential PLC
16 December 2021
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REGULATIONS
16 December 2021
Ascential plc
Sale of MediaLink
Ascential plc (LSE: ASCL.L), the specialist information,
analytics and eCommerce optimisation company, today announces that
it has sold MediaLink, a brand within its Marketing business unit,
to United Talent Agency, LLC ("UTA"), a leading global talent,
entertainment and sports company, for $125m in cash.
The sale is consistent with the Group's long-term strategy. It
allows further allocation of capital to areas of the business with
strong recurring, data-driven, revenue characteristics, such as the
recently acquired, fast-growing Digital Commerce assets and
investments in the Hudson MX platform.
MediaLink has grown very strongly in 2021. In the previous
financial year ended 31 December 2020, MediaLink generated revenue
of $44.2m and Adjusted EBITDA, before allocation of central costs,
of $10.1m. The gross assets of MediaLink, including goodwill and
intangible assets arising on consolidation, as at 30 June 2021 were
$80.6m. MediaLink has generated an internal rate of return of 14%
per annum for the almost five years it has been owned by Ascential,
taking into account its purchase cost, its annual profits and cash
flows and the sale price announced today.
Duncan Painter, Chief Executive Officer of Ascential, said:
"We are pleased that MediaLink has found an excellent home, in
UTA, that will leverage its uniquely talented team while further
developing its specialist advisory services in the media and
marketing ecosystem. For Ascential, this transaction will enable
accelerated investment in data driven, subscription revenue
streams, while also continuing to simplify the focus of the Group
overall."
Contacts
Ascential plc
Duncan Painter Chief Executive Officer +44 (0)20 7516 5000
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Mandy Gradden Chief Financial Officer
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Rory Elliott Investor Relations
Director
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Media enquiries
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Edward Bridges, Matt
Dixon, Jamie Ricketts FTI Consulting LLP +44 (0)20 3727 1017
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About Ascential
Ascential delivers specialist information, analytics and
eCommerce optimisation platforms to the world's leading consumer
brands and their ecosystems. Our world-class businesses improve
performance and solve problems for our customers by delivering
immediately actionable information combined with visionary
longer-term thinking across Digital Commerce, Product Design and
Marketing. We also serve customers across Retail & Financial
Services.
With more than 2,000 employees across five continents, we
combine local expertise with a global footprint for clients in over
120 countries. Ascential is listed on the London Stock
Exchange.
About UTA
One of the most influential companies in the global
entertainment business, leading talent, entertainment and sports
agency UTA represents some of the world's most iconic,
barrier-breaking artists and creators, from actors, athletes and
musicians to writers, gamers, and digital influencers. UTA's
business spans talent representation, original content production
and its strategic advisory and marketing practice that works with
the biggest brands in the world. UTA is headquartered in Los
Angeles with offices in Atlanta, Chicago, Nashville, New York and
London.
www.unitedtalent.com
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