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Mergers and Acquisitions

SiriusXM Paid Subscriber Base Hits Record High of Nearly 34 Million

SiriusXM (NASDAQ: SIRI) is starting out 2019 on a positive note. On Tuesday, the company reported that its total paid subscriber base has hit a record high of 34 million. By the end of 2018, SiriusXM had added 1.4 million self-pay subscribers bringing the total self-pay subscribers to 28.9 million, exceeding the company's 2018 guidance by about 40 percent. At year end, total net subscriber additions were 1.3 million, helping the company hit its record high.

Tribune Publishing Struggles in Q4 But Reports Earnings for Full Year

Source: Tribune Publishing Last week, Tribune Publishing Company reported its fourth quarter and full year 2019 financial results which were a mixed bag. The company's...
Le Tote Sues Urban Outfitters for Using Proprietary Information to Launch Competing Subscription Service

Le Tote Sues Urban Outfitters for Using Proprietary Information to Launch Competing Subscription Service

Le Tote, a subscription women's clothing rental service, filed suit against Urban Outfitters for allegedly using proprietary information to start a competing service.

ServiceNow Reports $344.6 Million in Subscription Revenue for Q4

Cloud computing company ServiceNow (NYSE: NOW) reported a strong fourth quarter for fiscal year 2016 with subscription revenue of $344.6 million, which represents 41 percent growth year-over-year, and total revenue of $387.5 million, which represents 35 percent growth year-over-year. For the full year, ServiceNow reported subscription revenue of $1.2 billion, representing 44 percent growth year-over-year, and total revenue of $1.40 billion, representing 38 percent growth year-over-year.

DC Universe Streaming Subscription Service Coming to Screens This Fall

Superman, Wonder Woman, Batman, new series, exclusive content and more. That's what DC Entertainment is promising fans with its new digital streaming subscription service - DC Universe - scheduled to launch this fall. DC Universe will feature TV shows, live action movies, animated programs, breaking news, an interactive encyclopedia, merchandise, membership rewards and a curated library of modern and classic comics, reports Forbes. DC Universe will also feature exclusive new shows: Titans this year and Doom Patrol and Swamp Thing next year, and two animated series Harley Quinn and Young Justice: Outsiders.

McGraw-Hill and Cengage Will Merge in an All-Stock Deal

Last week, two educational publishing powerhouses - McGraw-Hill and Cengage - announced they would merge in an all-stock deal on equal terms. The deal will combine the strengths of both publishers to form a new global learning company, benefiting students, educators and related professionals. The boards of both companies have unanimously approved the deal. According to Publishers Weekly, the deal is expected to close by early 2020. It will retain the McGraw-Hill name and be led by Michael Hansen, the CEO of Cengage.

Disney to Pull Content from Netflix & Launch Streaming Service in 2019

Tuesday was a big day for Disney (NYSE: DIS). The entertainment and media company announced its third fiscal quarter financials for the period ended July 1, 2017, the acquisition of a majority ownership of BAMTech, and its plans for over-the-top streaming services for Disney in 2019 and ESPN in 2018. Though the Disney news is all related, we'll tackle one topic at a time.First, let's look at the new streaming services Disney is planning. In early 2018, Disney will launch an ESPN-branded multi-sport video streaming service. The service will offer a range of sports programming; approximately 10,000 live regional, national and international games and events, including Major League Baseball, the National Hockey League, Major League Soccer, Grand Slam tennis, and college sports...
SiriusXM is expanding its podcast offerings by acquiring podcast platform Stitcher from Scripps. Terms of the deal were not disclosed.

SiriusXM to Acquire Podcast Platform Stitcher from Scripps

SiriusXM is expanding its podcast offerings by acquiring podcast platform Stitcher from Scripps. Terms of the deal were not disclosed.

Two Lessons for Subscription Companies from Re/code Sale

Last week Vox Media acquired Re/code, an 18-month-old tech publication founded by Kara Swisher and Walt Mossberg, former writers for the Wall Street Journal. The deal was an all-stock transaction worth between $15 and $20 million, according to Business Insider. While some critics are quick to dub Re/code a failure much like Gigom, Swisher doesn't see it that way. "I think we did a great job with the journalism and the brand, but you have to…

Mic Lays Off Majority of Staff and Is Bought by Bustle for $5 Million

Last Thursday, millennial-focused digital news site Mic laid off most of its editorial staff and was subsequently bought by the Bustle Digital Group for $5 million, reports Recode. Mic co-founder and CEO Chris Altchek announced the layoffs at an all-employee meeting on Friday. Approximately 30 staffers of more than 100 will remain at Mic, including Altchek and co-founder Jake Horowitz, says Recode. As severance, most employees would receive one month of pay and health care. They were told to clean out their desks by the end of the day and that their computer access would be shut off at 2 p.m. on Thursday, says The New York Times.

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