Spectrum Completes Disposal of Arqiva Outside Broadcast
Spectrum Corporate Finance has successfully completed the disposals of certain trade and assets of the Outside Broadcast division (“AOB”) of Arqiva Broadcast Holdings Limited (“Arqiva”) to two separate corporate acquirers - Cloudbass Multimedia Limited and NEP Visions Limited.
Arqiva provides television and radio transmission, distribution and media management for the world’s leading broadcasters on multiple global platforms. Its core assets include the UK terrestrial broadcast network together with teleports and media hubs at key locations around the world, comprehensive satellite capacity, multiplexes and international fibre network. Arqiva also provides extensive media services through its playout, studios and mobile broadcasting facilities.
Arqiva Outside Broadcasting was established in March 2006, as a result of Arqiva Limited purchasing NTL Broadcast (including the OB Company “Scanners”) and Shots TV. Both of these companies had decades of experience in outside broadcasts for a wide variety of clients and across many production genres and was acknowledged as a Tier 1 provider by many broadcasters and engineers following a multi-million pound investment in High Definition.
Following a strategic review, Arqiva mandated Spectrum to lead the disposal of its outside broadcasting division. Having analysed the business in depth and ascertaining which areas within the business would be most attractive to certain buyer groups, it was determined that value could be maximised by separately selling certain contracts and assets of AOB to different strategic trade acquirers.
As a result of this assessment of options, offers were accepted from Cloudbass Multimedia Limited for the acquisition of AOB’s residual contracts and supporting broadcasting equipment, and from NEP Visions Limited for the remaining broadcasting assets.
Cloudbass Multimedia Limited is an owner-managed outside broadcasting services provider established in 2002. This recent acquisition sees it take a key position alongside Arqiva in delivering to a number of key, ongoing customers of Arqiva. Funding for the transaction was provided by Aldermore Asset Finance and Fineline Media Finance.
NEP Visions has over 25 years’ experience in covering the World’s premier events. NEP Visions has distinguished itself as one of the leading Outside Broadcast providers in the world, specialising in the latest technological solutions. The NEP Visions fleet is equipped with the latest remote and mobile production options and can be available anywhere in the world; the addition of the AOB assets will enable them to secure key facilities for up-coming events in both Brazil and UK. NEP Visions is a wholly-owned subsidiary of NEP Broadcasting Inc.
“Having made the strategic decision to close the AOB business unit, we needed to complete the divestment in a manner that was sensitive to our staff, and customers to ensure continuity of a high quality service. Spectrum worked with us to achieve these aims and ran a fast and efficient process that enabled a smooth transition to Cloudbass Multimedia Limited on key contracts and assets, and the sale of assets to NEP Visions Limited. An important sale for Arqiva and part of our strategy in driving forward with our future plans for investing further in our infrastructure and business.”Stuart Cockburn, Group Strategy Director at Arqiva