12.19.2013 10:17 AM
NEP to Acquire Global Television From Catalyst
Unites two TV technical service companies
SYDNEY, AUSTRALIA and PITTSBURGH —NEP Group Inc. has entered into a definitive agreement to acquire GTV Holdings Pty Ltd. from Catalyst Investment Managers.

The financial terms were not disclosed. The transaction unites the two television technical services companies, and the acquisition of Global Television further expands NEP’s presence into Australia and Asia. NEP is majority-owned by private funds managed by Crestview Partners, with a significant ownership stake held by NEP’s management team. However, Global will remain an independent operating entity based in Australia, led by Keith Andrews and his executive team.

“Global Television has an outstanding reputation for excellence in live sports and light entertainment and is the clear leader in the Australian television market,” said NEP CEO Kevin Rabbitt. “Together, NEP and Global Television offer a much broader pool of expertise, resources, and facilities and extend NEP's services worldwide, adding significant value for our clients and partners who work internationally.”

Global facilitates premium live sports and entertainment produced and broadcast in Australia, and six of Australia’s highest-rating shows were Global projects.

Global has also achieved international recognition for its technical expertise in host broadcasting, partnering with production companies and broadcasters to win contracts, including the Glasgow 2014 Commonwealth Games and 2014 G20 Leaders Summit in Brisbane.

Combined with Global’s fleet of outside broadcast and studio facilities, NEP will offer over 70 high-definition outside broadcast units; several HD flypacks; studio facilities in Los Angeles, New York, London, Cardiff, Sydney and Melbourne; plasma, LED, and projection video display solutions; as well as a team of engineering and technical experts.

The transaction is being financed with debt arranged by Barclays and Morgan Stanley, and is expected to close in early 2014. AGM Partners LLC, Barclays and Morgan Stanley acted as financial advisors to NEP. Jones Day; Paul, Weiss, Rifkind, Wharton & Garrison LLP; and Kirkland & Ellis LLP acted as legal advisors to NEP. Greenhill provided corporate advisory services to Catalyst.

Catalyst completed the privatization of Global Television in January 2007; the company was previously listed on the Australian Securities Exchange. Global Television was established in 1988, trading as Hoyts Television.


Comments
Post New Comment
If you are already a member, or would like to receive email alerts as new comments are
made, please login or register.

Enter the code shown above:

(Note: If you cannot read the numbers in the above
image, reload the page to generate a new one.)

No Comments Found




Thursday 10:05 AM
NAB Requests Expedited Review of Spectrum Auction Lawsuit
“Broadcasters assigned to new channels following the auction could be forced to accept reductions in their coverage area and population served, with no practical remedy.” ~NAB


 
Featured Articles
Conference Updates
Technology in Focus
Discover TV Technology