Fusion Corporate Partners, the leading digital and traditional media M&A specialist, is pleased to announce the sale of Digital Spy Limited (DigitalSpy.co.uk) to Hachette Filipacchi UK Ltd, the UK division of the world's leading magazine publisher. The transaction completed on the 5th April prior to the controversial abolition of taper relief.
Launched in 2000, DigitalSpy.co.uk is the 4th largest entertainment news website in the UK with in excess of 2.1 million unique users on its main Entertainment News site and 3.1 million on its Forum Network. The only larger properties in terms of audience in the UK are The Sun online, MSN Entertainment and BBC entertainment news (Source: Comscore Jan 2008).
The site covers a broad range of news and features across all areas of popular culture, including show business, celebrities, movies, music, television, soaps, gaming and technology, while the media section covers the latest in the TV broadcasting industry with a particular focus on digital television and programming. Digital Spy has an extremely active community in its Forum Network which ranks within the top 25 English language forums in the world by posts (Source: Big-board.com Apr 2008).
Alan Jay, Chairman & Partner of Digital Spy Limited, said: "On behalf of the shareholders can I thank all at Fusion for their attention to detail and overall professionalism throughout the last six months. You managed a competitive process and were there at all times to share your experience, advise and negotiate on key issues. We would not hesitate to recommend Fusion to other potential clients."
Fusion acted exclusively for the shareholders of Digital Spy Limited. The team responsible for this transaction were Paul Slight (pslight@fusioncorp.co.uk) and Toby Gordon (tgordon@fusioncorp.co.uk).
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