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Sector convergence in media and entertainment sees divestment intent remain at high levels

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6 years ago

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Divestment appetite among media and entertainment (M&E) companies remains at near-record highs, according to the EY Media & Entertainment Global Corporate Divestment Study. The study reveals that 80% of global sector respondents plan to divest in the next two years – up from 33% in 2017 and down slightly from 87% in 2018 –  as they seek funds to invest in digital capabilities and to focus on core assets.

The study indicates that 75% of companies anticipate more large-scale transformational divestments in the next 12 months. With the line between technology, M&E and telecommunications companies increasingly blurring, 68% say convergence is most likely to drive divestment decisions in the next year, while 58% have reinvested proceeds from their last divestment in new products, markets and geographies.

Will Fisher, EY Global Media & Entertainment Transactions Leader, says:

“Technology-driven convergence, the increasing importance of exclusive content and data, shifting consumer behavior and competition from online players are driving M&E companies to continuously evaluate their growth strategies. In this climate, a strong appetite for divestment prevails, with companies looking to pivot more quickly in pursuit of new growth opportunities. The focus should now be around how to operationalize divestments to reach bigger audiences and build scale to compete with growing content production and data costs.”

The study findings are supported by the 19th EY Global Capital Confidence Barometer (CCB), which reveals that more than two-thirds (71%) of M&E companies are now reviewing and reshaping their portfolios at least every six months, as they continue to actively dispose of underinvested assets, businesses that are no longer core to the portfolio, and those best left in the hands of another owner.

And with 78% of Media & Entertainment Global Corporate Divestment Study respondents expecting the number of technology-driven divestments to rise in the next 12 months (up from 75% last year), the drive to fund new technology investments continues to be a key divestment trigger across the sector.

Delays continue to hamper media and entertainment divestment prospects
While divestment intentions are strong across the sector, the study indicates that companies remain slow in initiating the divestment process. Sixty-five percent of respondents say they have previously held onto assets for too long when they should have divested, while 58% state that their last divestment was delayed because they didn’t prepare adequately for associated regulatory requirements.

Fisher says: “As M&E companies continue to review their portfolios more frequently, they will need to ensure that they are also taking steps to prevent delays in divestment decisions, as well as potential value erosion. Preparation is a key differentiator here, and the most successful companies will be those that commit to early planning, while accommodating regulatory requirements, tax risk and private equity diligence where relevant.”

The study further indicates that 90% of M&E companies prioritized value over speed in their last divestment, up from 77% in 2018. Only 50% of M&E sellers describe their last divestment as opportunistic, down from 65% in 2018. The study highlights that, with unplanned divestments being less likely to achieve a sale price and valuation that meets expectations, the imperative for sellers to build a credible value story with supporting data is now more critical than ever.

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SOURCE EY

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WinesDirect Awards Reveal Top Wine Supermarkets, Clubs and Brands of 2024 as Voted by Over 1750 Wine Lovers

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3 hours ago

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November 18, 2024

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  • UK wine comparison website polled over 1750 wine lovers for 2024 Awards
  • Awards categories included best supermarket, club and merchant for wine
  • Best wine and champagne brands also chosen by popular vote
  • Tesco win Wine Supermarket of the Year with diverse and affordable range

GUILDFORD, England  , Nov. 18, 2024 /PRNewswire/ — WinesDirect, leading UK wine offers and pricing comparison website reveals the winners of its annual WinesDirect Awards including Best Wine Supermarket, Best Large Wine Merchant, Best Wine Club and Best Wine & Champagne Brands.

The WinesDirect Awards reflects the opinions of over 1750 wine lovers who were polled over a seven-day period this September. As well as stating their favourite supermarket, large merchant, club and brands, participants were also asked to explain their choices. The winner was the nomination with the most votes in each category.

The winners of each category are:

  • Tesco – Wine Supermarket of the Year
  • Majestic – Large Wine Merchant of the Year
  • Laithwaites – Wine Club of the Year
  • Yellow Tail – Wine Brand of the Year
  • Bollinger – Champagne Brand of the Year

David Andrews DipWSET, who writes tasting notes for WinesDirect, says:

“We are thrilled by this year’s record-breaking number of respondents; it is the highest participation on our annual awards survey we have ever received. Congratulations to all winners and highly commended supermarkets, wine clubs, and merchants of 2024!”

Supermarket of the Year

Tesco is crowned Wine Supermarket of the Year, earning praise for its diverse and affordable wine selection. Sainsbury’s is Highly Commended as respondents rave about its impressive array of international wines and exclusive deals.

Large Wine Merchant of the Year

Majestic has been awarded Large Wine Merchant of the Year it’s wide range and the expertise of its staff setting it apart from the competition. Laithwaites followed closely; respondents praised the company’s dedication to organic and sustainable options.

The survey results suggest that when shopping with wine merchants, customer service and a personalised, engaging shopping experience is most important.

Wine Club of the Year

Wine Club of the Year is awarded to Laithwaites due to its flexibility, customisable experience and positive community. Naked Wines secured the second spot with the WinesDirect audience applauding their money-back guarantee and mission to supporting emerging winemakers.

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Wine Brand of the Year

Yellow Tail wins Wine Brand of the Year, celebrated for its consistent quality, affordability and versatility in pairing with a wide range of dishes. Oyster Bay is Highly Commended for its refined, elegant and refreshing taste, all at an accessible price point.

Champagne Brand of the Year

Bollinger claims top spot for Champagne Brand of the Year with fans praising its luxurious feel, timeless charm and ability to elevate any occasion. Veuve Clicquot is close on its heels for its crisp, refreshing taste balanced by the right amount of fizz.

About WinesDirect

Established in 2005, WinesDirect is a website helping its users discover the best wine deals by showcasing offers from over 50 merchants and supermarkets. The site allows user to easily browse and compare the prices of an extensive selection of wines, beers and spirits. With the ability to set a price alert as well as being able to have side-by-side price comparisons, finding the best value for your money is effortless with WinesDirect.

In 2024, WinesDirect expanded its reach to the USA to help American consumers find equally great wine, beer and spirit deals. The mission of WinesDirect is straightforward: to help people find the best wines at the best prices.

 

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Ethiopia-Exclusive: Bybit Livens up P2P Marketplace with 12,000 USDT in Rewards

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3 hours ago

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November 18, 2024

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DUBAI, UAE, Nov. 18, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is pleased to announce an Ethiopia-only limited time offer for Bybit P2P users. From now to Dec. 5, eligible makers and users on Bybit P2P can choose a special rewards track while capturing opportunities in P2P trading.

Registration is required for all three events:

1. Merchant-exclusive Event

On Bybit P2P, users may enter the P2P Maker Battle for a share of a 2,000 USDT prize pool. Merchants may get a share of the prize pool by placing a sell ad in the Ethiopian Birr (ETB) on the Bybit P2P marketplace, inviting others to buy USDT.

The prize pool will be divided by the top 10 merchants who trade with the largest number of unique users, and complete a minimum trading volume of 5,000 USDT and minimum number of 50 unique buyers. To qualify, the Merchant must register and submit their UIDs using this form.

2. Cashback Event: Up to 2% for Existing Users

All buyers have a chance at an easy win from another 8,000 USDT prize pool.  Existing P2P users may simply trade to reach a minimum of 500 USDT in trading volume to unlock 2% cashback, up to 10 USDT per user.

3. Sharers Get More 

Users have another way to access a 2,000 USDT prize pool by using the “share” button to  spread the word about their ETB journey on Bybit P2P. The top 10 participants with the highest views will get to tell their stories and take home the rewards. Interested users may use this form to submit their work.

P2P trading is an organic part of the crypto market and an indispensable tool for improving financial inclusion and interconnectivity between community members. Bybit P2P provides a secure and user-friendly peer-to-peer trading solution, enabling users to seamlessly trade among themselves at zero fees.

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Bybit offers resources about posting trades on Bybit P2P, and Ethiopian users may visit here for more.

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected] 
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

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Aon Launches Cyber Risk Analyzer to Mitigate Clients’ Cyber Risk Exposure

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4 hours ago

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November 18, 2024

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  • Tool enables risk managers, brokers and CISOs to better evaluate cyber risk and maximize insurance value
  • Cyber Risk Analyzer is the latest release under Aon Actionable Analytics, which already includes Property Risk, Casualty Risk, D&O Risk and Health Risk analyzers

CHICAGO, Nov. 18, 2024 /PRNewswire/ — Aon plc (NYSE: AON), a leading global professional services firm, today launched its Cyber Risk Analyzer, a digital application that allows risk managers to make data-driven, technology-enabled decisions to mitigate cyber risk. The tool is the latest in a series of new offerings, which brings together Aon’s data, tools and analytics professionals to support clients through an evolving risk landscape across sectors.

“As cyber threats continue to grow in frequency, sophistication and severity, organizations face an array of complex risks—from ransomware and business interruption to insider threats and data breaches,” said Christian Hoffman, global specialty and financial products leader for Aon. “Compounding these risks are increased litigation pressures, shifting regulatory landscapes, and heightened scrutiny from shareholders. We designed Aon’s Cyber Risk Analyzer to address these challenges and help clients evaluate and quantify their enterprise cyber risk, enabling them to make better decisions.”

Aon’s Cyber Risk Analyzer allows Aon’s clients and brokers unique access to:

  • Loss Forecasting: Model detailed loss scenarios faster, including privacy or data breach and system failure. The analyzer incorporates Aon’s customized proprietary simulation modeling approach based on internal claims insights, independent research by Aon’s Cyber Risk Consulting team and findings from bespoke cyber modeling engagements.
  • Exposure Assessment: Integrate with other proprietary Aon tools, including Aon’s Cyber Quotient Evaluation platform (CyQu), to obtain a holistic assessment of a client’s exposures and security controls.
  • Total Cost of Risk (TCOR) Analysis: Overlay loss forecasts with customized insurance options to produce TCOR and Catastrophic TCOR analyses.

These capabilities enable brokers to provide risk managers, chief information security officers and corporate leaders a view of the changing cyber risk environment so they can make informed decisions around risk transfer versus risk retention on their balance sheets. Client risk managers will be empowered to deliver insights on optimal insurance capital allocation decisions to their boards of directors and corporate officers.

Empowering Clients with Actionable Insights
The launch of Aon’s Cyber Risk Analyzer follows the 2024 debuts of the firm’s Property Risk Analyzer, Casualty Risk Analyzer, D&O Risk Analyzer and Health Risk Analyzer, that provide exposure visualizations and model potential losses to help Aon’s clients make better informed decisions about their risk and insurance options. The analytics tools are designed by Aon’s Risk Capital and Human Capital capabilities in collaboration with Aon Business Services to provide Aon clients with actionable insights that allow for greater control over their insurance program structure. 

“Aon’s Cyber Risk Analyzer builds on Aon’s commitment to equipping clients with insights that enable data-driven decisions,” said Joe Peiser, global CEO of Commercial Risk Solutions for Aon. “As the risk landscape becomes increasingly complex, our team delivers actionable analytics that help our clients confidently evaluate risks and insurance options.”

About Aon
Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries with the clarity and confidence to make better risk and people decisions that protect and grow their businesses.

Follow Aon on LinkedIn, X, Facebook and Instagram. Stay up-to-date by visiting Aon’s newsroom and sign up for news alerts here.

Media Contact
Robert Elfinger
[email protected]
+1 312 610 3182

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