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Gamevertising firm IGN Entertainment filed to conduct another initial public offering to raise up to $200 million. Of that, more than $119 million would go to retire debt and buy out preferred stock. Current executives and relations would cash out about $45 million. IGN reports it saw almost $10 of ad revenue in the first quarter of 2005 and a bit more than $4 million in subscriptions and services. The company went public in the bubbly year of 2000, but was later taken private by Great Hill Partners, an investor group. The company has not made a profit in the last three years, although its rate of loss slowed quite a bit in the first part of 2005.
MediaPost pointed out that the securities filings the company had to make in preparation for its IPO revealed much about previously undisclosed deal terms. For instance, the AskMen.com acquisition from two months ago appears to have cost $13.5 million, and the Rotten Tomatoes site purchase amounted to $7.8 million.
These S-1 filings frequently include laundry lists of potential risks, some of which can even seem humorous in their design to shed imaginative disclosure liabilities. One rather pedestrian risk appearing in IGN’s filing, though, is a note that a reaudit of its financial figures from last December revealed problems that led to adjustments. The company notes that it hired several new financial personnel to help address its accounting weaknesses.
Marketers have unleashed their holiday promotions earlier than ever this year, with many hitting the stores well before Thanksgiving. But Sirius XM isn’t launching most of its 24-hour holiday music channels until turkey day or later.
The newly merged company…
October advertising revenue plunged for The New York Times Co. and McClatchy, despite some growth in online ad revenue.
The New York Times saw ad revenue plummet 17.2%; online ad revenue increased 5.3%, writes MediaPost. Classifieds have fallen 27.3% year to…
The switch to digital television arrives in less than three months, and to remind consumers of the transition, the National Association of Broadcasters is running a campaign across PumpTop TV’s network of screens at gas stations.
The spot began airing…
Through the first half of the year, automakers have slimmed their ad spending by 10% to $6.1 billion, according to Nielsen Monitor Plus.
General Motors slipped 6% to $1.2 billion, while Ford Motor cut ad spend by 22% to $954…
Getting real-time, 24/7 online access to company news and reaching responsive and efficient PR representatives still rate high on journalists’ wish-lists, but reporters are increasingly sourcing stories from new forms of media as well, according to research from Bulldog Reporter and TEKgroup…
Some 20% of top brand marketers continue to send additional emails to consumers, even after they confirm requests from those consumers to “unsubscribe” from an email marketing list, according to a research study from Return Path, MarketingCharts writes.
Though the study,…
