Company Overview of Scout Media Holdings, Inc.
Scout Media Holdings, Inc., along with its subsidiaries, operates lifestyle membership organizations in the United States. The company publishes various magazines, which provides information in the areas of hunting trips; home improvement, remodeling, landscaping, and woodworking projects for home enthusiasts; and fishing tactics, tips, techniques, and products. Its magazines also present information, news, insights, access, and member interaction; information for practical techniques and equipment, inspirational design, and outdoor living ideas; recipes, photography, and quick-to-master techniques; and tips on entertaining and information on new cooking products. The company offers its serv...
1270 Avenue of the Americas
New York, NY 10020
Founded in 1978
Key Executives for Scout Media Holdings, Inc.
Director and Chief Executive Officer
Compensation as of Fiscal Year 2016.
Scout Media Holdings, Inc. Key Developments
Motion for Asset Sale Approved for Scout Media, Inc.
Feb 7 17
The US Bankruptcy Court gave an order approving the sale of substantially all the assets of Scout Media, Inc. on February 7, 2017. The debtor has been authorized to sell substantially all its assets to CBS 247 Inc., the stalking horse bidder for a purchase price of $2.5 million in cash. The debtor did not receive any other competing bids for the purchase of its assets and therefore CBS 247 Inc. emerged as the winning bidder.
Bidding Procedure Approved for Scout Media, Inc.
Jan 26 17
The US Bankruptcy Court gave an order approving the amended bidding procedures relating to the sale of substantially all the assets of Scout Media, Inc. on January 26, 2017. The Court approved the asset purchase agreement between the debtor and CBS 247 Inc., the stalking horse bidder, for the sale of substantially all its assets for a purchase price of $9.5 million in cash. To qualify as a qualified bidder, interested parties should submit their bids by January 25, 2017. The initial minimum overbid should be at least $0.10 million more than the initial purchase price. The debtor has scheduled an auction on January 27, 2017. The stalking horse bidder would be entitled to a break-up fee of $0.29 million and expense reimbursement of $0.10 million in case of termination of the asset purchase agreement. The sale hearing is scheduled for February 1, 2017.
Final DIP Financing Approved for Scout Media, Inc.
Jan 18 17
The US Bankruptcy Court gave an order to Scout Media, Inc. to obtain DIP financing on a final basis on January 18, 2017. As per the order, the debtor has been authorized to obtain a revolving credit facility in the amount of $4.35 million from Multiplier Capital, LP. The DIP loan would carry an interest rate of 13% p.a. As per the terms of the DIP agreement, the loan carries application fees of $0.07 million and origination fees of $0.26 million. The DIP facility would mature either on February 6, 2017 or on the date of consummation of the sale of substantially all assets, whichever is earlier. Adequate protection would be provided to the DIP lenders in the form of super-priority administrative expense claims which is subject to a carve-out of $0.05 million towards unpaid professional fees and first priority lien upon and security interest in the debtor’s collateral.
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