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Scripps to Acquire Triton

Y2kTheNewOldies

Y2kTheNewOldies

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https://news.radio-online.com/cgi-bin/rol.exe/headline_id=n36041

The Deal is on Scripps is in the Digital Audio data operations

Financial highlights include:

The purchase price is $150 million.
The transaction will be financed with cash on hand.
Triton will be immediately accretive to company margins.
Triton's 2018 revenue is projected to be approximately $40 million, with EBITDA projected in the mid-teen millions.
Triton's 2019 revenue is projected to grow in the low to mid-teens percent range over 2018.
The revenue multiple for the transaction is about 3.7x; the EBITDA multiple is about 9x.
This is a stock acquisition, and therefore there is no step-up in the assets for tax purposes.
Scripps President and CEO Adam Symson said the acquisition is consistent with the company's growth strategies and operating performance goals adding, "Triton positions Scripps well to expand its role in the fast-growing global digital audio marketplace. Triton's efficient business model, multiple growing revenue streams, competitive advantages and expanding international footprint made this an attractive opportunity."

"The acquisition of additional television stations remains our No. 1 M&A priority, with the goal of enhancing our national scale and in-market depth for our Local Media portfolio," said Symson. "On the National Media side, acquiring Triton complements our strategy of owning growth businesses that capitalize on the evolving habits of media consumers and furthers our commitment to margin expansion."
Click to expand...


Triton's Clients include Iheart, Entercom, Cumulus and NPR according to this release.
 
To be honest, I've studied Triton a lot and I have no idea exactly what they do. In my view, stations pay them to have them look at the station's watch and tell them what time it is. They take an existing Word Press site and put their own brand on it, with some of their own plugins and features that might save a station some time and trouble. But for that, they charge you a monthly fee for a theme that you could get for free. Maybe ten years ago, this was a helpful service for a radio station. But as we move along, there are more skilled people available to do the same thing for less. My sense is these platforms are going to get cheaper as we move along, not more expensive. So I'm not sure what the long range plan would be for this kind of company.
 
If we're talking about the same Triton Digital, they are a streaming provider for several clients. Don't know if IHeart is still a client in some form as they launched their own Icecast based platform a few years back. But once signed up, you get a full package: MP3, AAC+, M3U8 for Smart TV and other Video options. They come with several backup streams depending on price. Scripps has a sweet deal indeed.
 
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