NEP to acquire Australia's Global TV
Gabriel Miramar-Garcia | 19-12-2013
Two of the world's largest television technical services companies, US-based NEP Group and Australia's Global Television (GTV) Holdings, are merging.
The financial terms of the deal have not been disclosed.
NEP is one of the largest broadcast and live event service companies with operations across the United States, United Kingdom and Brazil, and supports thousands of events annually around the world. The acquisition of Global Television further expands NEP's presence into Australia and Asia.
Combined with Global's top-tier fleet of outside broadcast and studio facilities, NEP will offer over 70 high definition (HD) outside broadcast units; several HD flypacks; studio facilities in Los Angeles, New York, London, Cardiff, Sydney and Melbourne; thousands of plasma, LED, and projection video display solutions; as well as a large team of engineering and technical experts.
"Global Television has an outstanding reputation for excellence in live sports and light entertainment and is the clear leader in the Australian television market," NEP CEO Kevin Rabbitt. "Together, NEP and Global Television offer a much broader pool of expertise, resources, and facilities and extend NEP's services worldwide, adding significant value for our clients and partners who work internationally. We are excited to work with Global's CEO Keith Andrews and his management team to continue to grow their business."
Global facilitates the majority of premium live sport produced and broadcast in Australia, and the most-watched live entertainment programmes. Six of 2013's highest-rating television shows were Global projects, the company said, including the top two: the My Kitchen Rules and The Block Sky High winner announcement episodes.
Global has also achieved international recognition for its technical expertise in host broadcasting, partnering with production companies and broadcasters to win major contracts, including the Glasgow 2014 Commonwealth Games and 2014 G20 Leaders Summit in Brisbane.
Global will remain an independent operating entity based in Australia, led by Andrews and his executive team.
The transaction is being financed entirely with debt arranged by Barclays and Morgan Stanley, and is expected to close in early 2014.