Home > Uncategorized > Trouble at Media Square

Trouble at Media Square

I know Media Square quite well. They purchased a mixed bag of media companies from my previous employers after they themselves had conducted a reverse takeover of a fading media group (Incepta PLC).

Thats in the past but it was interesting to see that a huge bad debt (MF Global) was cited as partly responsible for the crash. Having briefly been credit manager for teh self same companies, this certainly resonated

However they had been struggling for years and the more interesting current story is this;

http://thedrum.co.uk/news/2011/12/12/media-square-investor-challenges-firms-“sweetheart”-sale

PWC under some fire here for a “sweetheart” sale of the assets to a management team. This could run and run and could be quite significant in terms of the outcome. Knowing a little about that industry, I can perhaps see a point here. How much opportunity was there to sell to another buyer? How hard was this solution sought? Could selling the individual (and diverse) group companies been more lucrative?

Interesting and a story we will follow

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