Providence Equity Partners related stories
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Reuters - ProSieben Attracts Three Offers for TV ChannelsProSiebenSat.1 has attracted three offers worth more than 1.3 billion euros ($1.7 billion) for its Nordic TV channels, which may help to reduce the group's debt, writes Reuters. The bidders are private equity firms Nordic Capital and Providence Equity Partners as well as cable network Discovery Communications.
- Richardson Becomes Senior Advisor at Providence, Steps Down from MD Role
Julie Richardson, considered one of the most powerful women in private equity, has stepped down as a full-time MD at Providence Equity Partners to become a senior advisor. Richardson, 49, joined Providence in 2003 and lead the firm's investment in SunGard Data Systems, SRA Internaitonal, Altegrity and eTelecare.
- Providence Confirms Sale of 10% Hulu Stake
Providence Equity Partners confirmed Friday that it has sold its 10% stake in Hulu. The media-focused private equity firm sold its stake back to Hulu for $200 million, peHUB reported earlier this week /169551/providence-fund-vii-cut-5-bln-sources-say/ Providence invested $100 million in Hulu in October 2007.
- Q9 Networks Acquired by Consortium of PE Investors for C $1.1 Billion: CORRECTED
Canadian mega-deals are back! Q9 Networks, the Montreal-based provider of outsourced data centre Canadian mega-deals are back! Q9 Networks Inc., the Montreal-based provider of outsourced data centre infrastructure, announced the final close of its acquisition by BCE, Teachers', Providence Equity Partners, and Madison Dearborn Partners for $1.1 billion. This is also a major sponsor-to-sponsor deal, as Q9 Networks was previously acquired by Boston-based ABRY Partners in August 2008 for approximately $361 million.
- Blackboard President and CEO to Step Down
Michael L. Chasen will step down as president, CEO and director of Blackboard Inc. at the end of the year. Chasen will be replaced by Jay Bhatt, currently president and CEO of Progress Software. Blackboard was acquired by Providence Equity Partners for $1.7 billion in 2011.
- Reuters – Bain, Apollo Eye McGraw-Hill Unit
McGraw-Hill Companies Inc.'s education unit is expected to draw final bids from private equity firms Bain Capital and Apollo Global Management as well as rival Cengage Learning Inc., in a deal that could fetch around $3 billion, several people familiar with the matter said, according to a Reuters report. Cengage, the No. 2 U.S. college textbook publisher, and the two private equity firms are working on final offers for McGraw-Hill Education, the world's second-largest education company by sales, with the bids due later in October, the people said.
- Buyout Execs Emails Unsealed
Top executives at some of the world's largest private equity firms, including KKR & Co LP and Blackstone Group LP sent emails that allegedly show them plotting to scoop up companies on the cheap during last decade's buyout boom, according to court documents unsealed on Wednesday.
- Reuters – PE Firms Circle ProSiebenSat1’s Scandinavian Ops
ProSiebenSat1 has attracted interest from private equity firms and a media group for its Scandinavian operations, which could sell for up to 1.4 billion euros ($1.8 billion). Private equity firms BC Partners, EQT, Providence Equity Partners and network Discovery Communications have shown interest for the assets, according to two people, who declined to be identified as they are not authorized to speak to media, Reuters reported Wednesday.
- Providence, CVC Sell Stakes Of Selves
More buyout shops—including Providence Equity Partners and CVC Capital Partners Ltd—are selling pieces of themselves to investors, in addition to taking their commitments to funds.