Advertisement

Perform partners with ACBJ to create new company

Perform Group, the sports content distributor, and American City Business Journals (ACBJ), a division of Advance Publications, have established a new company, Perform Sporting News.

Perform Group, the sports content distributor, and American City Business Journals (ACBJ), a division of Advance Publications, have established a new company, Perform Sporting News.

Based in New York, with sales and editorial teams in Charlotte, Chicago and Los Angeles, Perform Sporting News is expected to materially enhance Perform's direct to consumer scale and presence in the US and Canada.

Advertisement - Article continues below

Perform Sporting News brings together Perform's US and Canadian consumer and advertising businesses, Goal - a large football website - and the digital assets of ACBJ's consumer web division Sporting News.

The group said that the combined business will have a reach of over 33m average monthly unique users, and a team of 100 journalists, sales and technical staff providing sports fans and business partners with news, editorial comment, video and statistics across eight sports including the NFL, MLB, NBA, NHL and College Sports.

The venture is expected to be revenue enhancing and earnings neutral for Perform in 2013 and revenue and earnings enhancing thereafter.

The venture will be owned 65% by Perform and 35% by ACBJ. On completion, Perform will provide loans and cash equity of $1.4m and ACBJ loans and cash equity of $4.2m to the Venture to cover its working capital needs.

Commenting on the venture, Oliver Slipper, Joint Chief Executive Officer of Perform, said: "We are excited to announce this partnership between Perform and ACBJ, which brings together the leading provider of online sports video and one of the US's flagship sports media brands."

He added:"Together, we will bring the best news, editorial, video and data content of professional and College Sports to millions of sports fans in the US and Canada and provide advertisers with a complete digital sports offering across the web and mobile and across both video and display."

MF

Advertisement
Advertisement

Recommended

Visit/investments/investment-strategy/601044/broker-safety-your-questions-answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
Visit/investments/investment-strategy/600861/how-demographics-affects-stock-valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Visit/investments/stocks-and-shares/600863/sirius-minerals-anglo-american-takeover
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Visit/investments/stockmarkets/600634/why-investors-should-be-cautiously-bullish-for-2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Visit/investments/commodities/gold/601444/these-seven-charts-show-exactly-why-you-must-own-gold-today
Gold

These seven charts show exactly why you must own gold today

Covid-19 is accelerating many trends that were already in existence. The rising gold price is one such trend. These seven charts, says Dominic Frisby,…
3 Jun 2020
Visit/investments/stockmarkets/601460/disease-rioting-and-mass-unemployment-so-why-are-markets-soaring
Stockmarkets

Disease, rioting and mass unemployment – so why are markets soaring?

Despite some pretty strong headwinds in the last year, America’s S&P 500 stock index is close to all-time highs. John Stepek explains why markets seem…
4 Jun 2020
Visit/investments/commodities/601433/commodities-possibly-the-biggest-opportunity-in-todays-markets
Commodities

This looks like the biggest opportunity in today’s markets

With low interest rates and constant money-printing, most assets have become expensive. But one major asset class hasn’t. John Stepek explains why com…
2 Jun 2020