LONDON, UK: Ascential plc (LON: ASCL.L) has sold MediaLink, a brand within its Marketing business unit, to United Talent Agency (UTA), a leading global talent, entertainment and sports company, for $125 million in cash.
Ascential plc is the specialist information, analytics and eCommerce optimisation company.
The sale is consistent with the Group’s long-term strategy. It allows further allocation of capital to areas of the business with strong recurring, data-driven, revenue characteristics, such as the recently acquired, fast-growing Digital Commerce assets and investments in the Hudson MX platform.
MediaLink has grown very strongly in 2021. In the previous financial year ended 31 December 2020, MediaLink generated revenue of $44.2m and Adjusted EBITDA, before allocation of central costs, of $10.1m. The gross assets of MediaLink, including goodwill and intangible assets arising on consolidation, as at 30 June 2021 were $80.6m.
MediaLink has generated an internal rate of return of 14% per annum for the almost five years it has been owned by Ascential, taking into account its purchase cost, its annual profits and cash flows and the sale price announced today.
Duncan Painter, Chief Executive Officer of Ascential, said: “We are pleased that MediaLink has found an excellent home, in UTA, that will leverage its uniquely talented team while further developing its specialist advisory services in the media and marketing ecosystem. For Ascential, this transaction will enable accelerated investment in data driven, subscription revenue streams, while also continuing to simplify the focus of the Group overall.”
Ascential delivers specialist information, analytics and eCommerce optimisation platforms to the world’s leading consumer brands and their ecosystems.
With more than 2,000 employees across five continents, we combine local expertise with a global footprint for clients in over 120 countries. Ascential is listed on the London Stock Exchange.
One of the most influential companies in the global entertainment business, leading talent, entertainment and sports agency UTA represents some of the world’s most iconic, barrier-breaking artists and creators, from actors, athletes and musicians to writers, gamers, and digital influencers. UTA’s business spans talent representation, original content production and its strategic advisory and marketing practice that works with the biggest brands in the world. UTA is headquartered in Los Angeles with offices in Atlanta, Chicago, Nashville, New York and London.