Hanley Wood Sells Exhibitions Business for 375 Million

first_img The deal involves 17 trade shows and events across the real estate, design and construction communities, including World of Concrete, The International Surface Event and the recently-purchased Greenbuild Conference & Expo. “We’ve been getting calls about the business for a long time,” he says. “The country is on the verge of serious market recovery and we have the dominant platforms.” Most of the investment activity from the capital associated with this sale will go toward product development or acquisitions to strengthen its data platforms, Goldstone adds. The group’s annual revenue through March 2015 is projected at $67.7 million with EBITDA (earnings before interest, taxes, depreciation and amortization; a common metric for evaluating company size and performance) of $34.4 million, according to Informa. With a $375-million price tag, the sale was for nearly 11-times EBITDA—considered a high multiple for events businesses. Peter Goldstone, Hanley Wood’s CEO, tells FOLIO: that the company wasn’t necessarily looking to sell its exhibitions, but a rebounding housing market made the properties valuable. Hanley Wood will also continue in its role as “the official media and information provider to the various events we have supported” for at least the next 10 years, according to statements from each company.center_img The properties will be rebranded to Informa Exhibitions U.S., but will remain based in the U.S. under the continued leadership of Rick McConnell, president of the group, and the entire existing events staff. The businesses are expected to complement Informa’s existing portfolio of shows in similar verticals around the world, including a collection of U.S. shows it acquired when it bought Virgo Publishing in July. Hanley Wood has agreed to sell its exhibition businesses to Informa, a U.K.-based publishing and events company, for $375 million. The sale is expected to close by the end of 2014. Hanley Wood is still a $100-million company, and with 30 smaller, targeted shows, it remains in the events business, but Goldstone says it’s transitioning to information and marketing services. He cites its 2013 purchase of research firm, Metrostudy, as a “transformational moment.” Editor’s note: The sale price was previously incorrectly stated as $370 million.last_img read more

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Cricket World Test Championship How will it work and what to expect

first_imgThe World Test Championship will begin on August 1.ReutersAfter years of deliberation and planning, a premier tournament for the Test format is finally going to see the light of day. The World Test Championship (WTC) officially kicks off with the first Ashes Test that begins on August 1.Basic structureThe WTC will comprise 9 top Test-playing nations, as decided by the ICC Test team rankings on March 31, 2018. Of the 11 Test teams in the world all except Afghanistan and Ireland are taking part. The Championship would last for around two years, culminating with the final, slated to be played in June 2021 in England.The championship won’t be played in a league format as there isn’t enough time in the calendar for any of the nations to play every other team, home and away. As a result, each team is obliged to play three home series and three away series. Which teams they decide to play would depend on the respective cricket boards and their arrangements.The series that would form a part of the WTC can range from two-Test affairs to those containing five games. The two teams that will have the most points at the end of the mandatory six series will get into the final, likely to be played at Lord’s. The Ashes series will be the first tournament under the WTC umbrellaCameron Spencer/Getty ImagesPoints systemsThe points system worked out for this tournament is also very interesting. Every series would provide sides with a chance of winning a maximum of 120 points. For points per match, 120 would be divided by the number of matches in the series. A tie will earn both teams half that number of points while a draw would lead to 1/3 of the points per match being earned by the sides.To illustrate this better, let us take an example. If there is a three-match series between two teams, then, points available for each match would be 120 divided by three, i.e. 40. The winner of a match would get 40 points while a tie would get both teams 20 and a draw 13.Test series outside WTCNot every Test series played in the next two years will be considered part of WTC. Those series involving Afghanistan and Ireland will be outside the scope of the championship. India’s series against West Indies would be their first challenge in WTCIANSBroadcasting rightsSince this tournament would consist of bilateral series played in different Test playing nations, channels and networks holding the rights to telecast cricket in those territories will also telecast matches of this tournament. However, the final, which will be played in England, will be broadcasted by the networks owning rights to ICC tournaments.Will the tournament succeed?The chances of WTC becoming popular are good but not perfect. The biggest aim of ICC is to make sure that every Test series has a context. As of now, there are only a few series, like the Ashes or Border-Gavaskar Trophy, that draw major attention. This league aims to ensure that even a series such as West Indies vs India, otherwise not a high-profile contest, would have a definite context and value. Whether the ordinary fans warm up to it or not remains to be seen.last_img read more

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Annapolis Activists Pack Judiciary Committee Hearing to Demand Law Enforcement Reforms

first_imgThe Rev. Dr. Heber Brown addresses demonstrators from the Thurgood Marshall Memorial during Jan. 15th march on Annapolis. (AFROPhoto by R. Alejandro)Demonstrators packed the first hearing of the House of Delegates’ Judiciary Committee, a show of community strength and resolve to see law enforcement reforms passed during the 2015 legislative session in Annapolis. Organizers estimate that between 150 and 175 people came out for the march, which was marked by a heavy youth presence.The event began at the Thurgood Marshall Memorial in Annapolis, where the Rev. Dr. Heber Brown, of Pleasant Hope Baptist Church in Baltimore, addressed the crowd. Brown co-organized the march with Farajii Muhammad, of Young Leaders for Peace.“They thought that after a few marches, a few rallies, they thought that we would just calm down again, get back to ‘Scandal,’ get back to ‘How to Get Away with Murder,’” said Brown to those gathered at the Memorial. “But we’re here today because we’re tired of other people getting away with murder. We’re tired of the scandal in our community where Black and Brown people are being brutalized and terrorized by those who are abusing the powers afforded them.”Tre Murphy, a youth leader with Baltimore Bloc, spoke pointedly about the need for established Black institutions to stand with youth in their fight against police brutality, invoking the memory of Dr. Martin Luther King Jr. at a march that took place on King’s birthday (Jan. 15).Demonstrators pack the House Judiciary Committee’s first hearing of the 2015 legislative session. (AFROPhoto by R. Alejandro)“I can’t help but to think that MLK would not appreciate the silence of the Black church that has not taken a stance on these issues,” said Murphy, who also spoke out against the resistance of politicians and law enforcement officials to reform. “I can’t help but to wonder and think that MLK would not appreciate that politicians and law enforcement, whose job is to protect and serve our communities, care more about protecting killer cops than they do about persons lost at their hands.”The march then moved from the monument to the offices of the House of Delegates, where the House’s Judiciary Committee was having their first meeting of the legislative session, a rather informal gathering that consisted solely of introductions from committee members. Demonstrators filled the room, a show of strength and resolve that seemed to take many legislators by surprise.Some demonstrators in attendance expressed frustration that they did not have a chance to give any actual testimony to the legislators, while organizers explained that the day’s march was just a first step, and that there would be other opportunities to testify over the course of the session.At one point, Ricardo Flores, government relations director for the Maryland Office of the Public Defender who was attending the hearing, stood up to address the demonstrators as they discussed opportunities to testify.“You all have already had an enormous impact,” Flores told the large group present. “In all the years that I’ve been down here, there are very few groups that have been organized enough to come down to Annapolis in the first days of the first session to express, as clearly as you all have, a particular agenda. . . . To fill this room–that’s a big deal.”ralejandro@afro.comlast_img read more

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Apple Aiming Original TV Shows Launch for Spring or Summer 2019 Report

first_img ×Actors Reveal Their Favorite Disney PrincessesSeveral actors, like Daisy Ridley, Awkwafina, Jeff Goldblum and Gina Rodriguez, reveal their favorite Disney princesses. Rapunzel, Mulan, Ariel,Tiana, Sleeping Beauty and Jasmine all got some love from the Disney stars.More VideosVolume 0%Press shift question mark to access a list of keyboard shortcutsKeyboard Shortcutsplay/pauseincrease volumedecrease volumeseek forwardsseek backwardstoggle captionstoggle fullscreenmute/unmuteseek to %SPACE↑↓→←cfm0-9Next UpJennifer Lopez Shares How She Became a Mogul04:350.5x1x1.25×1.5x2xLive00:0002:1502:15 Apple’s big streaming TV coming-out party is still a year or more away.The company is looking to debut its original series sometime next year, as soon as March 2019 or into the summer, according to a New York Times report.However, the tech giant is still keeping cards close to its vest in exactly how the Apple originals will be distributed. Industry execs expect Apple to adopt some kind of subscription model, a la Netflix and HBO, but some of the original series may be available for free or as part of other offerings.Heading up Apple’s TV ambitions are Zack Van Amburg (above right) and Jamie Erlicht — the former co-presidents of Sony Pictures Television, who joined in the summer of 2017 to head up original programming.Since they came on board, Apple has announced at least a dozen original series with some big names in the biz. Among the series in development under Van Amburg and Erlicht are a straight-to-series order for a drama series from Damien Chazelle (“La La Land”); a revival of Steve Spielberg’s anthology series “Amazing Stories”; a psychological thriller from M. Night Shyamalan; and a morning talk-show drama starring Jennifer Aniston and Reese Witherspoon. Apple has told industry partners that it has an annual budget of some $1 billion to spend on original content.Apple recently inked a lease for a four-story building in Culver City, Calif., comprising 128,000 square feet of office space, to house its global video-entertainment division. The group comprises around 40 employees, according to the Times, as Van Amburg and Erlicht have been on a hiring spree in addition to greenlighting TV projects.Apple’s hires from Hollywood have included Matt Cherniss, formerly president and GM of WGN America and Tribune Studios, as head of development; Amazon Studios exec Morgan Wandell, head of international development; creative executive Michelle Lee, formerly producing partner to Jason Katims at Universal Television-based True Jack Productions; and Sony TV’s Angélica Guerra as head of Latin American programming.center_img Popular on Variety last_img read more

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TMC Panchayat member injured in scuffle with youth

first_imgKolkata: A Trinamool Congress Panchayat member sustained injuries after being beaten up by a youth who was later arrested by Bidhannagar police.The incident took place near Unitech More in New Town on Thursday morning. Police said that the victim Akhtar Gazi, also known as Tutun, is a Panchayat member of Baliguri. He was passing near Unitech gate number 1 in his car, when the accused youth, Rajib Majumdar, an IT employee who was riding his motorcycle, hit the vehicle. Also Read – Rain batters Kolkata, cripples normal lifeAccording to the police, the accused youth was riding the motorcycle at a high speed, as a result of which he lost control over the vehicle. After his bike hit the car, Majumdar hurled expletives at the driver of the car. As the Panchayat member protested against the incident, the accused engaged in a heated altercation with him. Majumdar allegedly beat up the Panchayat member and also snatched the key of his car. The accused tried to flee with the key following the incident. Some traffic police officers who were there in the nearby areas, chased the accused and managed to catch hold of him. He was brought to the local police station. The police recovered the key of the Panchayat member’s car. After a brief interrogation, the accused was arrested by Bidhannagar police on various charges.last_img read more

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