Providence Equity Partners related stories
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- Bids Due Next Week for UK’s The College of Law
A number of firms will reportedly bid next week for one of the UK's largest law schools, The College of Law, Reuters reported Friday. Buyers linked to the deal include education company Pearson, KKR-owned Laureate International Universities and buyout house Providence Equity Partners, as well as Palamon Capital Partners and a joint bid from Exponent Private Equity and Sovereign Capital, Reuters wrote.
- Hulu at 1.5M Paying Subscribers Says C.E.O.
Hulu, the online television streaming service owned by NBCUniversal, News Corp., The Walt Disney Company and Providence Equity Partners, now has 1.5 million paying subscribers for its premium “Hulu Plus” service, according to a blog post by Chief Executive Jason Kilar. That’s a jump from roughly 300,000 paying subscribers in the fourth quarter of 2010. Kilar went on to say that the company grew 60% from 2010 to approximately $420 million in revenue. In spite of Hulu’s advances, Netflix still holds a strong the lead in the online television space, with a reported 23.8 million subscribers.
- WebMD Calls Off Sale, Sun Capital Reportedly in Talks to Sell Thermasys
There is some deal news today. WebMD has called off the auction to sell itself. WebMD's special committee has ended discussions "with potential acquirers and its process to review a potential sale of the Company," the healthcare information provider said in a statement Tuesday http://investor.shareholder.com/wbmd/releasedetail.cfm?ReleaseID=638195&CompanyID=WBMD In November, WebMD hired Credit Suisse to advise on the sale, according to press reports. WebMD was in talks with four PE firms, including Kohlberg Kravis Roberts & Co LP and Providence Equity Partners, by December, according to my coworkers at Reuters /129261/pe-firms-bidding-for-webmd-health-corp/ It's unclear why WebMD called off the talks.
Buyout Firms Navigate Macro ShockwavesThe buyout market continued to slowly improve in 2011 as firms deployed war chests raised in the boom years of last decade and many prepared to raise new funds. But a sovereign debt crisis in Europe, a downgrade of the U.S.’s credit rating and domestic political battles rattled markets and curbed momentum midway through the year. Banks grew more cautious about financing buyouts and taking their portfolio companies public.