PE Eyes Remain Glued to B2C Media

GTCR has completed its take-private buyout of Global Traffic Network (NASDAQ: GNET). Global's stockholders received $14 per share for a total deal size of $266.7 million, an EBITDA multiple of about 17x. Global provides custom traffic and news reports to radio and television stations outside the U.S. in exchange for commercial airtime inventory that it sells to advertisers. The company's special committee was advised by Moelis & Company and Milbank, Tweed, Hadley & McCloy, while GTCR received legal advice from Latham & Watkins.

Since the beginning of 2008, PE investors have invested in 192 companies in the B2C Media industry, according to the PitchBook Platform. With 42 deals completed in the industry so far this year, 2011 has already matched 2009's final deal count and is on track to match last year's 55 deals. Media companies located in the Northeast are continuing to attract a lot of PE attention, accounting for about 36% of the industry's investment activity in 2011 to date.