The media business has been struggling and continues to struggle. Decreased demand and fewer advertisers result in lower advertising rates which, when combined with industry-wide over-leveraging, has created real and sustained challenges. While companies have laid-off workers, renegotiated vendor contracts, and restructured debt facility terms, industry-wide over-leveraging and economic compression leave many companies barely able to tread water.
These companies must act quickly, before crisis demands drastic action and opportunities are lost. Gavin/Solmonese has relationships with lenders and investors throughout the United States and the world. Gavin/Solmonese’s knowledge of the industry and our relationships create opportunities for consolidation beneficial to all parties. Strategic partnerships and potential sales in this new climate have become more and more common and at more realistic multiples. Those who do act can also benefit from controlled liquidations, making possible controlled downsizings that maximize value for stakeholders past, present and future.
Gavin/Solmonese has a long and successful track record in all aspects of the media space including media technology, entertainment, telecommunications, broadcast, and cable assets.
As a result of this extensive operating, banking, and successful turnaround experience, Gavin/Solmonese has developed a time-tested and standardized approach to working with media and telecom companies and their lenders, investors, and targets.
Because of our many years of experience, both in the transactional and operating sides, Gavin/Solmonese professionals are especially effective in the many facets of the media property turnaround process. Our professionals have hands-on experience operating media companies in several verticals in the space, including film and television production and post production, television and radio broadcasting, telecom and cable, and in the valuation of media libraries.
Gavin/Solmonese professionals have extensive knowledge of the digital media industry and space having directly teamed with Silicon Valley firms to fund and market diverse new media technologies. Because of our background and history in technology, we are often asked to speak on the future of technology as it affects the business of traditional media. This experience is crucially important in the media area as traditional media looks forward. We have vast experience in the creation, structuring and implementation of business plans for both growth and traditional media companies as they adjust their plans to fit the future. Gavin/Solmonese also augments media company performance through our experience in the evaluation and implementation of best practices into media (and other industry) operations and in sales-force and management compensation optimization, through use of creative incentive programs and marketing services that align the economic interests of all stakeholders.
Gavin/Solmonese professionals, as transactional advisors (bankers), have worked on large media deals such as Sony’s acquisition of MGM and NBC’s acquisition of Universal, through a range of market sizes such as the creation and funding of Media Defender. Gavin/Solmonese has advised creditors and creditor committees of traditional media enterprises including newspapers, cable television companies and other “old media”, and infrastructure companies. Our banking experience includes sale-side, buy-side and restructuring, advisory engagements. Our relationships have been nurtured over 25 years and have withstood the test of time to span all levels of management within both the dealmaker community and numerous media companies, both large- and middle-market media companies. These relationships are very important as we work to create markets for sales and execute the consolidation of companies, as we are able to efficiently and effectively direct our deals to the correct executives within each company and get top-level consideration.
Media/ Entertainment Company Experience
Maximize value through opportunity: Companies must ensure they have an experienced financial advisor who will protect and advance their interests while maximizing value, creating and pursuing strategic opportunities while minimizing costs. Gavin/Solmonese has considerable experience in operations, valuation, equity funding, M&A, and debt structuring and restructuring in media and telecom businesses including:
- Advising private equity investors in the purchase of large media assets.
- Operating and selling cable-telephony company to large carrier.
- Providing valuation and expert negotiation services to dozens of media companies.
- Overseeing the sale and acquisition of several media companies.
- Managing acquisitions, restructurings and industry rollups.
The Entertainment Group focuses on:
- Acting as CRO, CEO, or advisor to distressed companies
- Advising lenders or lender groups
- Advising legal counsel
- Advising in negotiation of asset purchase agreement s
- Strategic and Healthy–Company Consulting for cost reduction and profitability enhancement
- Advising in M&A, sale, or strategic partnership situations, negotiations and transactions