Nine invests in CarAdvice for growth
Announcement posted by CarAdvice 14 Sep 2016
Sydney, Australia, 14 September 2016 – CarAdvice.com Limited shareholders today confirmed it has finalised an offer by Nine Entertainment Co. to acquire a majority stake in the business.
The acquisition sees CarAdvice, the leading publisher of online automotive editorial content in Australia, prepare for its next stage of growth with an equity injection comprising both cash and media contra across Nine’s assets. The offer to CarAdvice shareholders also incorporates a path to 100 per cent ownership by NEC within three years.
Andrew Beecher, CEO and Managing Director of CarAdvice, said the deal would help the automotive publisher extend its audience significantly through the Nine network while also allowing Nine to expand into one of the strongest online verticals in Australian automotive publishing.
“Nine has a track record in successfully managing the integration of strong, popular brands such as Pedestrian.TV, while also allowing them to maintain their own culture and unique value proposition,” Mr Beecher said.
“CarAdvice is a publisher that was created with a passion and determination to provide independent and trusted insights into new cars. It is this focus that has helped us evolve to be the premier destination for consumers wanting news and information in the automotive space.
“Today’s announcement is the launch pad for our next stage of growth as we look to extend our audience through Nine’s multi-platform properties across television and digital.”
Alex Parsons, Nine’s Chief Digital Officer, said: “No one is quite as passionate and knowledgeable about cars and automotive audiences as CarAdvice.
“It is fiercely committed to its audiences and to providing expert analysis and commentary. This has helped to make it the leading publisher of online automotive editorial content in Australia. We welcome CarAdvice to the Nine family and look forward to helping it grow further.”
Alborz Fallah, CarAdvice Founder and Publisher, said the acquisition came at an important time for the business.
“It is highly fitting on the year of our ten-year anniversary that CarAdvice has stood true to its commitment and core values, producing the most engaging and consumer-focused automotive content in Australia,” Mr Fallah said.
“I am immensely proud of the team past and present that has helped to get us here today and very much look forward to our future with Nine – a future that will only see us grow our audience and expand our opportunities for multi-platform innovation.”
CarAdvice will continue to produce the best automotive content from its Sydney, Melbourne, Brisbane and Perth offices. There will be no changes to the executive team, with four new seats added to the Board from Nine-nominated directors.
For more information please visit www.caradvice.com.au.
The acquisition sees CarAdvice, the leading publisher of online automotive editorial content in Australia, prepare for its next stage of growth with an equity injection comprising both cash and media contra across Nine’s assets. The offer to CarAdvice shareholders also incorporates a path to 100 per cent ownership by NEC within three years.
Andrew Beecher, CEO and Managing Director of CarAdvice, said the deal would help the automotive publisher extend its audience significantly through the Nine network while also allowing Nine to expand into one of the strongest online verticals in Australian automotive publishing.
“Nine has a track record in successfully managing the integration of strong, popular brands such as Pedestrian.TV, while also allowing them to maintain their own culture and unique value proposition,” Mr Beecher said.
“CarAdvice is a publisher that was created with a passion and determination to provide independent and trusted insights into new cars. It is this focus that has helped us evolve to be the premier destination for consumers wanting news and information in the automotive space.
“Today’s announcement is the launch pad for our next stage of growth as we look to extend our audience through Nine’s multi-platform properties across television and digital.”
Alex Parsons, Nine’s Chief Digital Officer, said: “No one is quite as passionate and knowledgeable about cars and automotive audiences as CarAdvice.
“It is fiercely committed to its audiences and to providing expert analysis and commentary. This has helped to make it the leading publisher of online automotive editorial content in Australia. We welcome CarAdvice to the Nine family and look forward to helping it grow further.”
Alborz Fallah, CarAdvice Founder and Publisher, said the acquisition came at an important time for the business.
“It is highly fitting on the year of our ten-year anniversary that CarAdvice has stood true to its commitment and core values, producing the most engaging and consumer-focused automotive content in Australia,” Mr Fallah said.
“I am immensely proud of the team past and present that has helped to get us here today and very much look forward to our future with Nine – a future that will only see us grow our audience and expand our opportunities for multi-platform innovation.”
CarAdvice will continue to produce the best automotive content from its Sydney, Melbourne, Brisbane and Perth offices. There will be no changes to the executive team, with four new seats added to the Board from Nine-nominated directors.
For more information please visit www.caradvice.com.au.