Latest in Mergers and Acquisitions

Facebook is betting on the potency of GIFs by acquiring Giphy, whose technology will be integrated into Instagram, which Facebook acquired in 2012. The price was reported by multiple media outlets to be $400 million, but the companies did not confirm the valuation. The transaction fits with Facebook’s drive to…

Xandr, the advertising unit of AT&T, is merging with WarnerMedia in order to create what the company calls “a better advertising value proposition for brands, publishers and consumers alike.” As part of the move, Gerhard Zeiler, WarnerMedia’s chief revenue officer and international president, will…

Even before COVID-19, the road has been a little bumpy for ViacomCBS since the company closed its long-awaited, $12 billion merger last December. The company’s stock has lost more than half its value in the past few months. Bullish investors impressed by its reach and hefty cash flow have been outflanked by bears…

As it continues its shift to streaming, WarnerMedia has acquired The Widget Co., a Dutch technology provider. The deal came through its subsidiary, Turner Broadcasting System Europe. TWC operates in the Netherlands and Hungary. Financial terms were not disclosed. According to TWC’s Linked-In page, the company “puts…

Hasbro shares dipped in pre-market trading after the toy and entertainment company reported first-quarter results slightly below Wall Street expectations. Earnings swung to a loss of 51 cents a share from 21 cents in the year-ago quarter. Excluding one-time charges, notably costs related to the $4 billion acquisition…

Cinemex Holdings USA, Inc. and Cinemex USA Real Estate Holdings, Inc. have filed for bankruptcy protection and reorganization under Chapter 11 of the US Bankruptcy Code in Miami, Florida, where it is based. CMX Cinemas is the brand used in US for parent corp Cinemex, which is Mexico-based and did not file for…

Fox Corp said Monday that it has completed the acquisition of Tubi, announced March 17 for $440 million. The news comes the same day Comcast’s NBCUniversal announced the acquisition of streaming platform Vudu from Walmart by its Fandango movie ticketing division. Fox Corp. paid for Tubi with cash it raised from the…

Fox Corp. jumped into the direct-to-consumer arena, announcing an anticipated deal to acquire Tubi – a leader in the fast-growing free ad-supported streaming category – for about $440 million in net cash consideration. Fox said the deal  underscores its “long-term strategic initiatives to broaden and enhance…

The biggest story in the music business this week – really, the only story, given the ramifications – was the Austin Mayor’s decision to pull the plug on South by Southwest. It marked the first time in the event’s 34-year-history that the show won’t go on. Already, the reeling Austin community is scrambling to salvage…

Wade Davis' new investment fund just became part owner of Univision in a deal expected to close late summer with the former Viacom executive as CEO. It's a new chapter for both, and Davis on Tuesday described an abundance of commercial, strategic and audience opportunities. "This is a platform that is unique and, from…

As investors circle Hispanic media giant Univision Communications, former Viacom chief financial officer and investment banker Wade Davis continues in the mix as some new names emerge. The latest entrant into the process is Searchlight Capital, a private equity firm said to be teaming up with Davis, as first reported…

Satellite radio giant SiriusXM continues to expand, announcing a $75 million investment for a minority stake in the privately-held open audio platform SoundCloud.   The companies didn't specify the size of the stake but it comes with two new seats for Sirius on the SoundCloud board.   SoundCloud said it will use the…