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December 7, 2012
06:13 EDTKKR, DISCADiscovery close to buying ProSieben assets, Telegraph reports
The Discovery Channel (DISCA) is closing in on ProSieben, which is owned by Permira and KKR (KKR), in a deal that could be worth EUR1.3B, or GBP1.05B, the Telegraph reports. Providence Equity Partners may look to launch a bid for ProSieben, but insiders believe Discovery will emerge with the assets. Reference Link
News For DISCA;KKR From The Last 14 Days
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October 6, 2015
07:24 EDTKKRbloomberg to hold a summit
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September 30, 2015
12:03 EDTDISCADiscovery management to meet with Jefferies
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07:30 EDTDISCADiscovery long-term guidance missed Street expectations, says UBS
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September 29, 2015
15:19 EDTDISCADiscovery drops as investor day fails to dispell cord-cutting fears
Shares of Discovery Communications (DISCA) have dropped today as the company held its first-ever investor day amid ongoing concerns about the potential decline of pay TV. NEW GUIDANCE: Discovery Chief Financial Officer Andrew Warren updated the company's full year 2015 outlook, saying he expects constant currency adjusted earnings per share to grow in the low double digits. The company expects revenue for the year to grow 9%-10%, with free cash flow up in low single digits. Meanwhile, year over year currency headwinds were seen deducting $460M from revenue and 24c-29c from adjusted EPS. Discovery also established long-term guidance, saying it sees its adjusted EPS compound annual growth rate up in low double digits from 2015 to 2018, on a constant currency basis. "Third quarter results are on track, highlighted by strong U.S. advertising growth," Warren added. THREE BILLION SUBSCRIBERS: CEO David Zaslav commented during the investor day that the company is "confident in the long-term outlook for our business," adding that Discovery expects to reach 3B cumulative worldwide subscribers by year's end. The Chief Executive highlighted what he called five differentiators for Discovery's growth potential, including its ownership of a growing and diverse portfolio of content and IP "that uniquely positions Discovery for the changing media landscape." CORD CUTTING: Multiple Discovery executives showcased the company's European products, including Eurosport and the Eurosport Player OTT service, as well as the company's apparent first-mover advantage in Latin America. The seemingly increased attention on foreign initiatives comes as U.S. cord-cutting trends continue generating headlines, with Citi analyst Jason Bazinet arguing as recently as September 18 that Disney (DIS) would be the only cable network to make more money in a bundle-free world. According to media reports of today's Discovery event, Chief Executive Zaslav said "it's not rational" that media companies are selling so much of their content to streaming services like Netflix (NFLX) that threaten the appeal of cable bundles. The CEO added that Discovery has assumed a 1%-2% decline in pay TV over "the next couple of years," though he reassured investor day attendees that the company's adjusted operating income should be roughly flat even in a worst-case scenario. PRICE ACTION: Shares of Discovery crashed as much as 7% in early morning trading before seeing hesitant moves higher. The stock is down just under 4% to roughly $26.70 heading towards session close.
09:19 EDTDISCADiscovery CEO: Low double-digit revenue growth in next 3 years, Variety says
Discovery Communications CEO David Zaslav pledged that the company will deliver low double-digit revenue and earnings growth over the next three years, Variety reports. Zaslav gave the forecast at the company's inaugural investor day presentation in Manhattan, the report says. Reference Link
06:47 EDTDISCADiscovery to host Inaugural Investor Day
Inaugural Investor Day to be held in New York on September 29 at 8:15 am Webcast Link
September 25, 2015
16:43 EDTKKRKKR no longer holds stake in Smucker, lost right to designate board observer
On September 21, The J. M. Smucker Company (SJM) entered into an underwriting agreement, dated as of September 21, with Blue Holdings and Morgan Stanley with respect to a registered underwritten public offering of 8.28M shares of the company's common shares, to be sold by the selling shareholder. The common shares sold by the selling shareholder represent 100% of the ownership interests attributable to affiliates of Kohlberg Kravis Roberts (KKR). The secondary offering was completed on September 25. Upon completion of the secondary offering, KKR ceased to be the beneficial owner of any of the common shares and lost its right to designate a board observer.
September 22, 2015
17:56 EDTKKRKKR backs E&P team to launch Trans European Oil & Gas
KKR announced earlier that it will back Roland Wessel, Colin Judd and Melvyn Horgan, founders and former management team of Star Energy, to launch Trans European Oil & Gas Limited. "Trans European Oil & Gas intends to build a portfolio of conventional onshore oil and gas properties in proven hydrocarbon plays in Europe, and apply its extensive experience in enhanced oil recovery techniques to optimize production," said KKR. The investment in Trans European Oil & Gas will be made primarily by the KKR European Fund IV.

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