Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "PJT"


12 mentions found


Sky spinoff is Comcast’s least-bad option
  + stars: | 2023-01-03 | by ( Jennifer Saba | ) www.reuters.com   time to read: +3 min
The boss of U.S. media giant Comcast (CMCSA.O) may want to make an exception for Sky. Including acquired debt, Roberts paid a multiple of 15 times Sky’s EBITDA to clinch the deal, two and a half times the company’s enterprise value before the takeover battle began. The financial consequences of Roberts’ determination became apparent in October when Comcast took a non-cash impairment charge of $8.6 billion related to Sky. Goldman Sachs analysts expect Sky to generate adjusted EBITDA of $2.1 billion in 2023, nearly one-third less than in 2019. Comcast said on Oct. 27 that it took a non-cash impairment charge of $8.6 billion related to Sky assets for the third quarter of 2022.
This is why we have seen less activity," said Dirk Albersmeier, co-head of global M&A at JPMorgan. In the fourth quarter, there has been a 56% contraction in global M&A to $641.2 billion, partly caused by a 66% drop in private equity activity. Top rainmakers expect a pickup in cross-border M&A activity. Going forward, private equity funds are expected to kickstart the recovery as they seek assets at a discount. We were probably more optimistic a year ago," said David DeNunzio, global head of M&A at Wells Fargo.
BERLIN/MILAN, Nov 9 (Reuters) - German media group ProSiebenSat.1 (PSMGn.DE) is exploring a potential deal to buy into Sky's pay-TV operations in Germany, two sources close to the matter said on Wednesday. Comcast (CMCSA.O), which acquired Sky Deutschland as part of a $40 billion buyout of European pay-TV broadcaster Sky in 2018, did not immediately respond to request for comment. Comcast is working with advisory firm PJT Partners as it is weighing a disposal of the German business, the sources said. One of the sources said there were limited synergies between the two businesses, given that ProSiebenSat.1's TV business was driven by advertising. European broadcasters are struggling to find ways to tackle increasing challenges as the continental landscape is increasing dominated by U.S. streaming giants.
NEW YORK/ LONDON, Nov 3 (Reuters Breakingviews) - First Boston is an old Wall Street name that’s re-emerging from Credit Suisse (CSGN.S) with some new features. Credit Suisse Chief Executive Ulrich Körner is reshaping the $11 billion group to put some bad years and big losses firmly in the past. Credit Suisse is setting up joint ventures between CS First Boston and the parent’s trading and wealth management businesses, according to a person familiar with the matter. An added complication is that CS First Boston bankers could be getting paid in their own division’s stock, rather than Credit Suisse shares. Michael Klein will step down from the Credit Suisse board of directors to help launch CS First Boston, the bank said.
Insider obtained recruitment firm Odyssey Search Partners' survey of first-year banking analysts. When people think of Wall Street, they think of Goldman Sachs. Odyssey Search Partners, a recruitment firm that nabs talent from investment banks for clients in hedge funds, private equity, and family practices, surveys hundreds of fresh-faced investment banking analysts each year on everything from job satisfaction to pay. The survey collected data from over 1,000 first-year investment banking analysts between November 2021 and January 2022, when they were only a few months into their first Wall Street jobs. Of course, the investment banking landscape has changed dramatically since this survey was conducted.
Vinay Trivedi, a vice president at General Atlantic focusing on the technology sector. I don't think we necessarily transitioned fast enough to how people learn if we're only doing audio from home. - David Israel, 27, vice president at Credit SuisseAngel Pu Shum is a principal within Warburg Pincus's technology group. -Allison Boxer, 29, senior vice president and economist at PIMCONoah Zerance, a vice president with Bank of America's global sustainable-finance group. and the response would be, 'Well, we don't know how we do it yet.
If Credit Suisse loves its bankers, set them free
  + stars: | 2022-10-21 | by ( Liam Proud | ) www.reuters.com   time to read: +6 min
LONDON, Oct 21 (Reuters Breakingviews) - Credit Suisse (CSGN.S) is a weak bank with some strong bankers. SECOND COMINGImagine, then, that Credit Suisse spins out its advisory and capital-markets business. But Credit Suisse has never quantified the business it wins from intragroup referrals, which suggests it is low. In this case, it will be higher if those people are no longer at Credit Suisse. First Boston was a U.S. investment bank in which Credit Suisse first bought a stake in 1978.
2022 kicked off with some huge transactions, from AT&T's WarnerMedia spin-off to private equity scooping up content players. Brad Pitt's production company, Plan B, and Diamond Sports Group both recently tapped big banks to explore their options. Not surprisingly, WarnerMedia was at the heart of the richest transaction fee waterfall for big banks in 2022. Moelis and LionTree were just tapped to help figure out what's next for Sinclair's Regional Sports Networks, Diamond Sports Group, while Brad Pitt's production company, Plan B, also hired Moelis to shop the production company, according to Variety. There's lots of dry powder still in private equity, Navid Mahmoodzadegan, co-founder and co-president at investment bank Moelis, told Insider.
2022 kicked off with some huge transactions, from AT&T's WarnerMedia spin-off to private equity scooping up content players. Company valuations are set to fall back to earth in 2023, and private equity and strategics are lying in wait. Not surprisingly, WarnerMedia was at the heart of the richest transaction fee waterfall for big banks in 2022. Joshua Grode's Legendary Entertainment, backed by Dalian Wanda and now Apollo Group, which took a stake in the studio in January. There's lots of dry powder still in private equity, Navid Mahmoodzadegan, co-founder and co-president at investment bank Moelis, told Insider.
Cineworld and Cineplex have been locked in a multimillion-dollar legal battle since the London-listed company rescinded its offer to buy Cineplex more than two years ago. Cineworld has since been struggling to rein in massive debt and this month filed for bankruptcy in the United States. Cineplex is in early talks with Cineworld's lenders about taking over Regal in exchange for debt and stock backed by the combined business, the WSJ reported, citing people familiar with the matter. Cineworld's restructuring adviser Alix Partners and financial adviser PJT Partners did not respond immediately to a Reuters request for comment. Cineworld and Cineplex held talks this year about merging operations while settling the legal judgment but failed to reach an agreement, the WSJ added.
Private equity is a rewarding but challenging field to break into. Here is what we found about pay at private equity firms, including Blackstone, Apollo, and Bain Capital. Private equity recruiting has been starting earlier than ever Getty ImagesPrivate equity firms like to recruit from investment banks. These days, the private equity recruiting process has started earlier than ever, and it's resulting in middle-of-the-night interviews with offers being made — and blown up — all before Labor Day. General Atlantic managing director Alex Crisses walked Insider through the growth-equity investment firm's elite summer souring internship.
Persons: Jeffrey Hamilton, Alyssa Powell, Blackstone, Samantha Lee, Drew Angerer, Skye Gould, Jon Gray, Grace Koo, Read, Sara Diniz, Carlyle, Alex Crisses, Thoma Bravo, , Warburg Pincus, Wharton's, Axel Springer Organizations: Blackstone, KKR, Morning, Getty, Apax Partners, Oaktree, of Foreign Labor, Apollo, Bain Capital, Labor, KKR KKR, General Atlantic, PJT Partners, Partners, dealmakers, Wall, University of Michigan Locations: Carlyle, Blackstone, Axel
Abry Partners' $100 million stake in Kevin Hart's company HartBeat is the latest big M&A move in Hollywood. Dealmakers said production companies are valuable amid the streaming wars and demand for content. The M&A activity had top Hollywood dealmakers telling Insider in early 2022 that practically every independent production company is a target. Many production companies make work-for-hire or don't control the rights to a project once it is sold off to a studio distributor. Based on January interviews with five entertainment industry experts and insiders, Insider identified a list of 10 production companies that could be compelling acquisition targets as M&A activity continues.
Total: 12