RR Media merges operations with SES PS in deal valued at $242m
SES Platform Services, a wholly-owned subsidiary of SES, has announced an agreement whereby RR Media, a provider of global digital media services to the broadcast and media industries, will merge its operations with those of SES PS. SES will pay a consideration of $13.291 per share to acquire a 100% interest in RR Media. The consideration corresponds to an Enterprise Value of $242 million, which will be funded from the group’s existing financial resources.
RR Media provides converged digital media services to more than 1,000 media companies globally. Every day, the company manages and delivers over 24,000 hours of broadcast content, over 4,000 hours of online video and VOD content and over 350 hours of premium sports and live events including major global sporting events such as the Super Bowl and the FIFA World Cup.
RR Media provides coverage for over 95% of the world’s population, reaching viewers of multi-platform TV operators and populating content to over 100 Video-on-Demand (VoD) platforms, as well as delivering content to online video and Direct-to-Home (DTH) services.
The company’s services cover four main areas: global content distribution network with an optimised combination of satellite, fibre and the Internet; content management and playout services; management and delivery of premium sports, news and live events around the world; and other advanced online video services. This offering supports the service requirements of some of the world’s leading media companies, broadcasters and content rights owners holders including the BBC, Disney, Fox, IMG, ITV, MP Silva, NFL, and Viacom. RR Media operates from four principal media centres (in Bucharest, London, Pennsylvania and Tel Aviv).
Separately, RR Media has announced the appointment of David Treadway as the joint Managing Director for Europe. Treadway will join existing Managing Director for Europe, Simon Kay, who will continue to focus on his role as Head of Global Content Preparation. Treadway brings both experience and a proven track record of growth in the broadcast sector and joins RR Media having previously been CEO of WRN Broadcast.Prior to this, Treadway held a number of senior executive roles at Virgin Media, 3i plc and the BBC.
In his new role at RR Media, Treadway will be responsible for developing and enhancing RR Media’s 24/7 broadcast services, including channel origination, multi-platform and distribution from RR Media’s European Media Centre in London.