Digital assets to be consolidated under Generation E Media in HT&E restructure
Here, There & Everywhere are to launch a new business, Generation E Media, later this year, which will combine its millennial brands under the one roof.
The company – which owns ARN, Adshel, Conversant Media, Unbound and Emotive – announced at its Annual General Meeting this morning it would create a new “one-stop media powerhouse” for its digital assets.
All of HT&E’s digital assets will sit under the one roof
Despite the announcement, it does not appear as though the company has applied for a trademark for the new business.
HT&E chief executive Ciaran Davis said the new business will ensure “more and better aligned consumer experiences” and further the reach of brands.
“We are also excited by a new business we will launch later this year, bringing together brands we already own, to create a unique media business of the future,” Davis said.
“Brands like The Roar, Techly, Lost At E Minor, The Edge, Unbound and others – all focused on the millennial market – will distribute content seamlessly across multiple channels like mobile, radio, virtual and augmented reality, social video, and events, to name just a few.
“Remember, we already own these businesses that generate over $8m in revenues, but what we are doing is ensuring that we are delivering more and better aligned consumer experiences, helping us to further grow the reach of our brands, whilst introducing more opportunities for our advertising and commercial partners.”
The Roar, Techly and Lost At E Minor are also brands of Conversant Media. The Edge is part of ARN and Unbound is a creative tech company.
HT&Es announcement comes a month after it was revealed Conversant Media CEO Zac Zavos had left the business. It is unclear at this stage what will happen to the Conversant Media brand.
Conversant Media, which was acquired by APN News & Media (later rebranded as HT&E) in October 2016, for upfront cash consideration of $11.6m and performance based earn-outs.
In its first year under HT&E, Conversant Media posted $4.2m in revenue, but its earnings before interest, tax, depreciation and amortisation (EBITDA) were only $300,000.
The media company told shareholders this morning that 2018 EBITDA estimates were between $113-$114m.
At close of business Friday, HT&E had a market capitalisation of $698.14m.
