News Corp Sells News America Marketing

Press enter to search
Close search
Open Menu

News Corp Sells News America Marketing

04/01/2020
News America Marketing

News Corp has agreed to sell its News America Marketing (NAM) business to Charlesbank Capital Partners, a private equity firm with offices in Boston and New York.

The deal is expected to close in the fourth quarter of fiscal year 2020, subject to regulatory approval. The agreement follows a strategic review of NAM as part of News Corp’s ongoing efforts to optimize its portfolio and simplify its company structure.

Under the terms of the agreement, News Corp will receive cash consideration of up to about $235 million, comprised of $50 million in cash upon closing of the transaction and additional deferred cash payments in an aggregate amount between $125 million and about $185 million, depending on the timing of the payments.

Once the deal closes, Charlesbank plans to name Bill Redmond as NAM's CEO. Since 1996, Bill has served as a CEO, director and adviser at more than 20 companies, public and private, with a record of building substantial shareholder value through a combination of operating efficiency and growth through product, consumer and customer development. From 1981-1996, Bill held every level of sales leadership roles at Procter & Gamble, PepsiCo and Quaker.

“When NAM was established, it was dependent on the distribution of coupons via newspaper inserts, but, in recent years, the in-store and digital segments have expanded substantially," News Corp Chief Executive Robert Thomson said. "The continued strong performance of supermarkets and consumer goods, both core clients of NAM, suggests that the company will have a successful future under its new ownership."

About News America Marketing

News America Marketing is a premier marketing partner of some of the world’s most well-known brands. Its broad network of shopper media, incentive platforms and custom merchandising services seeks to influence the purchasing decisions of online and offline shoppers across the U.S. and Canada.

The business has comprehensive in-store marketing media options in more than 60,000 stores in the U.S. and Canada, and reaches households across the country with circulation of more than 60 million through nearly 2,000 publications.

In addition, the business has a digital media network, powered by first-party shopper data, including programmatic display, email, social and video to help brands and retailers connect with consumers. Headquartered in New York, News America has a sales force of more than 300 people in 12 offices across the US and Canada.