Providence Equity Partners related stories
All articles and analysis
- ZeniMax Media Buys DOOM Maker
ZeniMax Media Inc., a Rockville, Md.-based game publisher backed by Providence Equity Partners, has acquired id Software, creator of games like DOOM and QUAKE. No financial terms were disclosed. Providence bought $300 million of convertible preferred stock in ZeniMax 18 months ago, for around a 25% ownership stake.
- peHUB First Read
* KKR is rethinking plans for its un-IPO https://admin.venturecapitaljournal.com/42581/kkr-rethinks-new-york-listing-plan/ which would have seen the firm list in New York without actually offering up new shares. Instead, KKR may just buy out shareholders in its Amsterdam-listed affiliate, who currently are slated to be rolled up into the New York "offering." So much time and attention paid to this so far, and so little to show for it... * Henry Blodget http://www.businessinsider.com/henry-blodget-now-heres-the-real-end-of-wall-street-2009-6 : "Buried in Obama's financial reform plan is a requirement to make stockbrokers act in the best interests of their clients ("fiduciary responsibility"). This would replace the current conduct standard, which merely requires brokers not to stuff their clients accounts full of products they would be crazy to buy ("suitability")." * The debt commitment connundrum http://dealbook.blogs.nytimes.com/2009/06/18/the-debt-commitment-conundrum/?src=twt&twt=nytimesdealbook * Morning Call: U.S. futures up despite RIM dissapointment http://www.reuters.com/article/usMktRpt/idUSLJ16583420090619 London edges higher http://www.reuters.com/article/londonMktRpt/idUSLJ15447520090619 European stocks rise on banks and commodities http://www.reuters.com/article/eurMktRpt/idUSLJ32975220090619 the Nikkei posts its worst week in three months http://www.reuters.com/article/tokyoMktRpt/idUST10147020090619 and Hong Kong recoups some losses http://www.reuters.com/article/hongkongMktRpt/idUSHKG7322020090619
- Weekly Downgrade Wrap-Up
As usual, we have a week’s worth of ratings agency actions on the debt of LBO-backed companies from Moody’s Investors Services and Standard & Poor’s. This week, we've got a rating on the new Harrah's debt (higher than expected), and downgrades on companies owned by Apollo, Apax, Canaan Partners, Centerbridge Capital Partners, Silver Hawk, Silver Lake, Kohlberg & Co., Madison Dearborn Partners LLC and Providence Equity Partners. Company: Harrah's Entertainment Inc. Sponsor: TPG and Apollo Management Downgrade: S&P placed the company’s 'CCC' corporate credit rating on CreditWatch with positive implications. S&P also assigned the proposed $1.0 billion senior secured notes offering an issue-level rating of 'B' (two notches higher than the expected 'CCC+' post-transaction corporate credit rating on Harrah's).” Highlights: "We view the bank amendment as being a positive step since we were previously concerned that, given our expectation for operating performance, HOC may not have been able to remain in compliance with its senior secured leverage ratio covenant in the coming quarters.”