On Thursday, Shares of Comcast Corporation (NASDAQ:CMCSA), gained 0.39% to $59.64, after the company’s NBCUniversal declared that it made a $200 million investment, increasing its stake in digital media firm Vox Media.
“Vox Media has a great portfolio of premium digital brands that deeply engage broad audiences,” said NBCUniversal CEO Steve Burke.
Vox Media’s eight brands comprise SB Nation, Polygon, The Verge, Vox.com, Eater, Racked, Curbed, and Re/code.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments.
Shares of SouFun Holdings Ltd. (NYSE:SFUN), declined -0.85% to $6.99, during its last trading session.
SouFun Holdings Limited declared its unaudited financial results for the three months ended June 30, 2015.
Second Quarter 2015 Highlights
- Total Revenue raised by 25.4% year-on-year to $210.9 million. Revenue from e-commerce services raised by 119.7% year-on-year to $106.8 million.
- Operating income reduced by 72.7% year-on-year to $22.3 million. Non-GAAP operating income reduced by 71.3% year-on-year to $23.9 million. A description of the adjustments from GAAP to non-GAAP operating income is set forth below.
- Net income attributable to SouFun’s shareholders reduced by 76.3% year-on-year to $16.2 million. Fully diluted earnings per ADS reduced by 73.3% year-on-year to $0.04.
- Non-GAAP net income attributable to SouFun’s shareholders reduced by 72.8% year-on-year to $19.6 million.
- Non-GAAP fully diluted earnings per ADS reduced by 75% year-on-year to $0.04.
SouFun Holdings Limited operates a real estate Internet portal, and home furnishing and improvement Websites in the People’s Republic of China. The company offers marketing services on its Websites, primarily through advertisements to real estate developers in the marketing phase of new property developments, in addition to real estate agencies; and suppliers of home furnishing and improvement, and other home-related products and services.
Finally, Berry Plastics Group, Inc. (NYSE:BERY), ended its last trade with 9.88% gain, and closed at $31.59.
AVINTIV Inc. declared that they have reached a definitive agreement for Berry Plastics Group, Inc. to acquire AVINTIV from private equity funds managed by The Blackstone Group LP for about $2.45 billion in cash on a debt-free, cash-free basis.
The projected transaction, which is subject to customary closing conditions, is predictable to close by the end of calendar year 2015.
Berry Plastics has secured committed debt financing to fund the transaction and anticipates to utilize the strong, recession-resistant free cash flow of the combined business to reduce leverage following the transaction. Additionally, subject to market conditions, Berry will consider raising a modest amount of equity to result in a net debt to adjusted EBITDA ratio of about 5 times.
Credit Suisse and Barclays acted as financial advisors and Bryan Cave acted as legal advisor for Berry Plastics. Citi and BofA Merrill Lynch acted as financial advisors and Simpson Thatcher & Bartlett LLP acted as legal advisor for AVINTIV and Blackstone.
AVINTIV Inc. is one of the world’s leading developers, producers, and marketers of specialty materials used in infection prevention, personal care, and high performance solutions.
Berry Plastics Group, Inc. manufactures and distributes plastic consumer packaging and engineered materials in North America and internationally. The company operates through four segments: Rigid Open Top, Rigid Closed Top, Engineered Materials, and Flexible Packaging.
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