Brief: J2 Global Announces Plan To Separate Into Two Leading Publicly Traded Companies

Ziff Davis

19/04/2021 21:11

April 19 (Reuters) - j2 Global Inc  JCOM.O :
    * J2 GLOBAL ANNOUNCES PLAN TO SEPARATE INTO TWO LEADING
PUBLICLY
TRADED COMPANIES
    * J2 GLOBAL INC - TO SEPARATE CO INTO TWO INDEPENDENT
PUBLICLY
TRADED COMPANIES - J2 GLOBAL AND CONSENSUS
    * J2 GLOBAL INC - TO SEPARATE CO THROUGH A SPIN-OFF OF AT
LEAST
80.1% OF OUTSTANDING SHARES OF CONSENSUS COMMON STOCK TO J2
SHAREHOLDERS
    * J2 GLOBAL INC - PRO FORMA FOR TRANSACTION, J2 IS EXPECTED
TO
HAVE REVENUE OF BETWEEN $1.297-$1.334 BILLION IN 2021 (PER PRIOR
GUIDANCE)
    * J2 GLOBAL INC - PRO FORMA FOR TRANSACTION, J2 IS EXPECTED
TO
HAVE RUN-RATE ADJUSTED EBITDA MARGIN OF ABOUT 35%
    * J2 GLOBAL INC - PRO FORMA FOR TRANSACTION, CONSENSUS IS
EXPECTED
TO HAVE REVENUE OF BETWEEN $333-$342 MILLION IN 2021 (PER PRIOR
GUIDANCE)
    * J2 GLOBAL INC - PRO FORMA FOR TRANSACTION, CONSENSUS IS
EXPECTED
TO HAVE A RUN-RATE ADJUSTED EBITDA MARGIN OF ABOUT 55%
    * J2 GLOBAL INC - VIVEK SHAH WILL REMAIN CEO OF J2
    * J2 GLOBAL INC -  SCOTT TURICCHI, J2'S CURRENT PRESIDENT &
CHIEF
FINANCIAL OFFICER, WILL BECOME CHIEF EXECUTIVE OFFICER OF
CONSENSUS
    * J2 GLOBAL - AT TIME OF SPIN-OFF, J2 INTENDS TO RETAIN UP
TO
19.9% INTEREST IN CONSENSUS & DIVEST THAT INTEREST OVER TIME IN
A TAX-EFFICIENT MANNER

Source text for Eikon:  ID:nBw1SvM9Ma 
Further company coverage:  JCOM.O 

 ((Reuters.Briefs@thomsonreuters.com;))