Add-on Acquisition • Media

Gannett Acquires Stephens Media

On February 19, 2015, Gannett acquired media company Stephens Media from The Stephens Group and Stephens Capital Partners for 103M USD

Acquisition Context
  • This is Gannett’s 4th transaction in the Media sector.
  • This is Gannett’s 2nd largest (disclosed) transaction.
  • This is Gannett’s 5th transaction in the United States.
  • This is Gannett’s 1st transaction in Nevada.

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M&A Deal Summary

Date February 19, 2015
Target Stephens Media
Sector Media
Buyer(s) Gannett
Sellers(s) The Stephens Group
Stephens Capital Partners
Deal Type Add-on Acquisition
Deal Value 103M USD
Advisor(s) Stephens (Financial)

Target Company

Stephens Media

Las Vegas, Nevada, United States
Stephens Media LLC is a newspaper publisher operating eight daily newspapers, over 65 weekly and niche publications, and more than 50 websites serving communities throughout the United States.
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Buyer Overview 1

Buyer

Gannett

McLean, Virginia, United States

Category Company
Founded 1997
Sector Publishing
Employees12,800
Revenue 2.5B USD (2024)
DESCRIPTION

Gannett is a subscription-led and digitally focused media and marketing solutions company committed to empowering communities to thrive. The company's portfolio includes USA TODAY, local media organizations in 46 states in the U.S., and Newsquest, a wholly-owned subsidiary with over 120 local media brands operating in the United Kingdom. It also owns the digital marketing services companies ReachLocal, Inc., UpCurve, Inc., and WordStream, Inc., and runs the largest media-owned events business in the U.S., USA TODAY NETWORK Ventures. Gannett was founded in 1997 and is based in McLean, Virginia.


Deal Context for Buyer #
Overall 5 of 16
Sector: Media 4 of 7
Type: Add-on Acquisition 4 of 10
State: Nevada 1 of 1
Country: United States 5 of 16
Year: 2015 2 of 4
Size (of disclosed) 2 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-12 Halifax Media Group

Daytona Beach, Florida, United States

Halifax’s strategy is to invest long-term capital in quality companies positioned in strong markets that are closely connected to the community. Our expectation is to invest for the long term.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-03 Dispatch Printing - Publishing Assets

United States

Dispatch Printing - Publishing Assets includes the sale of The Columbus Dispatch, and the Company's other print publications including Columbus Monthly, Crave, Capital Style, Columbus CEO and ThisWeek Community Newspapers.

Buy -

Seller Profiles 2

SELLER

The Stephens Group

Little Rock, Arkansas, United States

Investor Investor Investor Investor Investor


Category Family Office
Founded 1933
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

The Stephens Group is a private investment firm focused on long-term investments in mid-sized companies. The Firm looks to partner with management teams when pursuing acquisitions. Sectors of interest include energy, energy services, business services, industrials, consumer products, consumer services, financial services, healthcare, technology, media, and communications. The Stephens Group was originally established in 1933 and is headquartered in Little Rock, Arkansas.


Deal Context for Seller #
Overall 18 of 30
Sector: Media 1 of 1
Type: Add-on Acquisition 9 of 13
State: Nevada 1 of 1
Country: United States 15 of 27
Year: 2015 3 of 4
Size (of disclosed) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 Coda Petroleum

Calgary, Alberta, Canada

Coda Petroleum, Inc. is a private junior oil and gas company focused on the exploration and development of oil prospects in the WCSB. Coda Petroleum is based in Calgary, Alberta.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-05 Universal Fiber Systems

Bristol, Tennessee, United States

Universal Fiber Systems is a manufacturer of high-performance, specialty synthetic fibers for niche segments of the commercial carpet, transportation carpet, and specialty textile industries. Universal Fiber Systems was founded in 1969 and is based in Bristol, Tennessee.

Sell -
SELLER

Stephens Capital Partners

Little Rock, Arkansas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Stephens Capital Partners is the direct, private equity investment arm of financial services firm Stephens, Inc. Stephens Capital looks to acquire minority or majority stakes in mid-sized, profitable companies in partnership with management. The Firm will consider opportunities throughout the US valued between $50 and $200 million. Stephens Capital will not consider venture investments or turnaround situations. Stephens Capital Partners is based in Little Rock, Arkansas.


Deal Context for Seller #
Overall 20 of 42
Sector: Media 2 of 4
Type: Add-on Acquisition 11 of 21
State: Nevada 1 of 1
Country: United States 20 of 40
Year: 2015 2 of 6
Size (of disclosed) 8 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-12 Halifax Media Group

Daytona Beach, Florida, United States

Halifax’s strategy is to invest long-term capital in quality companies positioned in strong markets that are closely connected to the community. Our expectation is to invest for the long term.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-06 TAS Commercial Concrete Construction

Houston, Texas, United States

TAS Commercial Concrete Construction LLC provides turnkey-ready commercial buildings as well as a variety of other concrete pouring and finishing services. TAS Commercial Concrete Construction was established in 1980 and is based in Houston, Texas.

Sell $115M