News Corp Sells News America Marketing to Charlesbank Capital Partners
March 31, 2020
News Corp has entered into a definitive agreement to sell its News America Marketing (NAM) business to private equity firm Charlesbank Capital Partners for up to approximately $235 million in cash, including $50 million at closing and deferred payments of $125–$185 million payable within five years. The deal, structured as a divestiture to simplify News Corp's portfolio, allows News Corp an option to retain up to 15% equity; Charlesbank plans to install Bill Redmond as CEO and invest to grow the business.
- Buyers
- Charlesbank Capital Partners
- Targets
- News America Marketing
- Sellers
- News Corp
- Industry
- Marketing & Advertising
- Location
- New York, United States
- Transaction Type
- Divestiture
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