Telecommunications, Media, Entertainment & Technology
Industry overview
Macquarie Capital's Telecommunications, Media, Entertainment and Technology (TMET) team combines extensive investment banking experience and specialized industry focus on companies operating globally in the TMET sector. The team is one of the largest specialist groups of its kind in Australia, Asia, Africa and the Middle East and continues to expand its presence in Europe and North America.
We are committed to our clients' needs, and look for opportunities to partner and find solutions. By specializing in this sector we have developed a comprehensive understanding of the industry and its participants, and the issues and challenges they face.
The TMET team offers the full spectrum of corporate advisory services, including mergers and acquisitions, debt capital markets, equity capital markets, project financing, restructuring and other financial advisory services.
In May 2011, Macquarie Capital completed the acquisition of REGAL Capital Advisors, a Los Angeles-based boutique investment bank specializing in the gaming, lodging and leisure industries. The acquisition builds on the momentum of our existing gaming coverage and the strength of our telecommunications and media coverage while adding specialist capabilities in the lodging and leisure industries.
The TMET team brings expertise and experience derived from executing some of the most significant transactions in the TMET industry globally, both as advisor and principal investor. In 2010, the global TMET team managed transactions valued at $A13 billion and was ranked No.1 in Australasia by value of completed mergers and acquisitions transactions in the TMET sectors (Source: Mergermarket).
Key transactions
| Year | Description | Transaction Value |
|---|---|---|
| Local | ||
| 2012 | Sole bookrunner on term loan to finance Court Square Capital Partners’ acquisition of Encompass Digital Media | $US250m |
| 2012 | Financial advisor to Encompass Digital Media on the sale to Court Square Capital Partners | Undisclosed |
| 2011 | Financial advisor to Dial Global on its merger with Westwood One and sole bookrunner on a second lien debt facility to support the transaction | Undisclosed -M&A / $US85m - second lien debt facility |
| 2011 | Financial advisor to Apollo Management on the acquisition of CKX Inc. | $US509m |
| 2011 | Financial advisor to Townsquare Media, Inc. on the acquisition of Millennium Radio Holdings, LLC | Undisclosed |
| 2011 | Joint bookrunner on National CineMedia’s senior unsecured notes issuance | $US200m |
| 2011 | Joint M&A advisor to Cumulus Media on its acquisition of Citadel Broadcasting | $US2.4bn |
| 2011 | Joint bookrunner and joint lead arranger on Cumulus Media’s bank and bond financing | $US3bn |
| 2011 | Equity provider to Cumulus Media | $US250m |
| 2011 | Joint bookrunner on Phoenix New Media's initial public offering | $US162m |
| 2011 | Joint bookrunner and joint lead arranger on Airvana Network Solutions' senior secured credit facilities | $US420m |
| 2011 | Joint bookrunner and sole dealer manager on MedQuist Holdings' initial public offering and exchange of common stock | $US41m |
| 2011 | Financial advisor to Focus Media on the investment in VisionChina Media, Inc. | $US61m |
| 2011 | Financial advisor to Encompass Digital Media on the purchase of Ascent Media's Global Content Distribution Business | $US120m |
| 2011 | Sole bookrunner on the Senior Secured Credit Facility for Encompass Digital Media | $US195m |
| 2010 | Financial advisor to DM Luxury LLC on its acquisition of Modern Luxury Media and provided debt and equity financing | Undisclosed |
| 2010 | Advisor to Alloy on the sale of Alloy, Inc. to ZelnickMedia | $US127m |
| 2010 | Joint bookrunner and lead arranger on a Senior Secured Credit Facility for Airvana Network Solutions | $US360m |
| 2010 | Co-manager on the initial public offering of Ambow Education Holdings | $US107m |
| 2010 | Financial advisor to Focus Media on the sale of its Allyes internet division to Silver Lake | $US200m |
| 2010 | Co-manager on GTP Towers Issuer LLC’s Tower Asset-Backed Notes offering | $US250m |
| 2010 | Documentation agent on Carmike Cinema's refinancing, which included a $US265 million term loan and a $US30 million revolving credit facility | $US295m |
| Global | ||
| 2010 | Advisor to Taiwan Broadband Communications (TBC) on refinancing existing senior facilities and offshore mezzanine facility. Also mandated lead arranger for the $US135 million subordinated facility | $US900m |
| 2010 | Financial advisor and underwriter to Photon Group on its recapitalization proposal | $A102m |
| 2010 | Advisor to Ontario Teachers Pension Plan on its acquisition of Camelot Group | £389m |
| 2010 | Advisor to Singapore Technologies Telemedia on the privatization of Eircom Holdings, owner of 57.1% stake in Irish telecom incumbent Eircom | €4bn |
| 2009 | Defense advisor to PIPE Networks on its potential acquisition by TPG Telecom Limited | $A434m |
| 2009 | Financial advisor to the Senior Lender Group on the restructuring of MagnaChip Semiconductor | $US840m |
| 2009 | Sole lead manager, underwriter and bookrunner for the selldown by CanWest Global Communications Corp of its 50.1% holding in TEN Network Holdings Limited | $A680m |
| 2009 | Sole global coordinator, sole bookrunner and sole lead manager to Epistar Corporation on the issue of Global Depository Receipts | $US351m |
| 2009 | Sole lead manager and underwriter to the carsales.com Limited IPO | $A163.5m |
| 2009 | Sole lead manager to TEN Network on its capital raising by way of a placement | $A138m |
| 2009 | Advisor to Verizon on the sale of Verizon SA, its South African corporate ISP business to MTN Group | $A332m |
| 2009 | Sole lead manager to SEEK on its capital raising by way of a placement, share purchase plan and top-up offer | $A124m |
| 2009 | Advisor to Prime Media Group on its capital raising by way of entitlement offer and placement of shares to Seven Network | $A110m |
| 2009 | Advisor to Fujitsu on its acquisition of Kaz | $A200m |
| 2009 | Advisor to Macquarie Communications Infrastructure Group in its strategic review and following privatization by Canadian Pension Plan Investment Board | $A7.5bn |