Television

Liberty Media to acquire Provide Commerce for $477 million

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2016/03/30/Liberty%20Media.jpg?itok=8wnRKIzS

MUMBAI: Liberty Media Corporation announced today that it would acquire Provide Commerce, Inc, an e-commerce marketplace of websites for perishable goods marketed under the brands: ProFlowers, Cherry Moon Farms, Uptown Prime, and Secret Spoon.

Under the terms of the agreement, Liberty will pay $477 million in cash, or $33.75 per Provide share.The proposed transaction is expected to close in the second calendar quarter of 2006. Completion of the transaction is subject to regulatory approval, Provide Commerce stockholder approval and other customary closing conditions.

"Provide Commerce is a market leader in online perishable goods and through its advanced supply chain and superior execution, has built scale and a strong competitive position. This is a testament to the caliber and dedication of the Provide management team and we are thrilled to welcome them to the Liberty family. We believe in the power of video to drive television and web-based retailing businesses and Provide is a compelling addition to our strategy," stated Liberty chairman and CEO John C. Malone.

"The philosophy of Liberty and its affiliates is consistent with Provide's culture and our unrelenting focus on our customers. We look forward to working with the other Liberty Internet and video companies to accelerate profitable growth," said Provide Commerce CEO Bill Strauss.

JP Morgan Securities Inc. served as financial advisor to the board of directors of Provide Commerce. Following the acquisition, Provide Commerce will remain a separate subsidiary within Liberty.

Vesting of outstanding options and restricted stock grants will be accelerated and holders of options and warrants will receive cash payments equal to the difference between the cash price per share and the respective exercise prices.

In connection with the proposed transaction, Jovian Holdings LLC has agreed to vote the shares it owns or controls in favor of the proposed transaction or against any alternative proposal, in addition to other customary agreements. Jovian Holdings owns or controls approximately 29 per cent of the outstanding common stock of Provide Commerce.

As of September 30, 2005 Provide Commerce had a cash balance of $60 million.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/24/np.jpg?itok=R_GCbjai
SPN India to feature in SPE growth in 2018

Sony Corp (Sony) had an investors’ day on 23 May 2017 pertaining to the results for its financial year ended 31 March 2017 (FY-17). It its investor presentation, the company has forecast 12.7 percent growth in revenue of its Sony Pictures Entertainment (SPE) group to $9,346 million for fiscal 2018...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/24/Republic-02-Story.jpg?itok=gEHc2QVe
Republic TV insists its FTA; DTH platforms to charge subscribers for viewing?

Republic TV continues to make news even as it reports views and news. Touted as the country’s truly free-to-air (FTA) news channel, however, what is surprising is that some DTH platforms have put a price on the channel and started charging subscribers accordingly a little over a fortnight after...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/24/ekta-kapoor-800x800.jpg?itok=iRXiG1Pj
Balaji Telefilms net realization for programs improves

BENGALURU: The Ekta Kapoor led Balaji Telefilms Limited (Balaji Telefilms) had 8 shows on air at the end of the financial year 2017 (FY-17, current year, year ended 31 March 2017) on various channels in the country. The company in its investor presentation says that the net realization per hour for...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/24/knivesarnab_0.jpg?itok=e6MtSMSN
COMMENT: KNIVES, ARNAB, & THE OLD GUARD OF ENGLISH NEWS

MUMBAI: The knives are out. The blades are being flashed around. And those involved in the street fight are drawing blood and bleeding as well. Only difference is that the street fighters are not the ruffian kind, rather they are gents who you watch on the TV screen or dressed up to the T in well...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/23/pkl.jpg?itok=trzJ5PPB
PKL Day 2: Category B players cross 5-mn mark with Suraj Desai for Rs 5.25 mn

With the results of day one, Nitin Tomar had emerged with the highest bid of Rs 9.3 million in the PKL auctions.

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/23/English-news-genre.jpg?itok=ovZXVnHY
English news genre grows only 10% in Chrome week 20

MUMBAI: In week 20, the English movies emerged as the number one genre in six metros with a growth of 34.4 per cent opportunity to see (OTS), according to market researcher Chrome Data Analytics. Movies Now led the section with 48.8 per cent OTS.

Television TV Channels Viewership
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/23/Prabal-Pratap-Singh.jpg?itok=fzU1zkDA
Programming revamp benefitted News18 India, says editorial head

MUMBAI: Hindi news channel News18 India, which undertook a revamp of its programming strategy few months back focusing on exclusive reports largely based on sting ops, has claimed that the plan is working as its ratings and viewership have increased.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/23/pro-kabaddi.jpg?itok=6qEFFF8S
Top notch Pro Kabaddi League auction commences; top player bid Rs 93 lakh

MUMBAI: India’s second most watched sports league – Pro Kabaddi League (PKL) – has begun the countdown to its fifth season. With Vivo fixed as the title sponsor for the next five seasons, the player auction got underway on 22 May and will end on 23 May. The 12 teams began bidding for players...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/22/modi.jpg?itok=ESOxR2va
Mann ki Baat gains popularity among NRIs, CMs to emulate idea

Even as the 32nd instalment of ‘Mann Ki Baat’ by Prime Minister Narendra Modi is slated for next Sunday, it is being emulated soon by some Chief Ministers who are commencing similar broadcasts.

Television TV Channels Terrestrial

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories