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7
Chart 1 : Catena Media annual revenues 2016-21 (€ m )
€ m
140 |
136.1 |
|
120
100
80
|
105 |
102.8 |
106 |
67.6 |
60 |
40 |
40.1 |
20 |
0 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
Source : Annual reports
paid by GiG was 3.4 times while the during the period . Though not as EBITDA multiple comes in at an big , and certainly not as public , the undemanding 5.4 times . company also offloaded certain paid media assets to another rival ,
A FOCUS CHANGED
This isn ’ t the only divestiture undertaken by Catena Media
Acroud , in October . The € 5.1m deal was initially cloaked in some secrecy . It involved Acroud buying a 60 % stake in a business called ( confusingly ) Acroud Media Ltd which was itself formed by Gary Gillies in June last year . Gillies was behind the SBAT affiliate which was bought by Catena in October 2016 for € 3.2m .
Clearly , then , it would appear that Catena Media is intent on breaking up the European empire that it so assiduously stitched together . The sales came after the company ’ s very public strategic review process which had been announced in spring of last year .
The company explicitly said at the time the review would “ consider all feasible alternatives and assets of the group to ensure an optimal outcome ”.
March 2023