Tribune Media's Acquisition of Baseline
Our researchers found information regarding Tribune Media's Gracenote acquisition of Baseline. In 2014, Tribune Media Co.’s Gracenote entertainment-metadata division acquired Baseline, for $50 million as the company looked to broaden its footprint. The purpose of the acquisition was to expand its existing metadata expertise to advance Gracenote's leadership in entertainment data and services. Our researchers accumulated the information from company press releases and news sites, such as Variety, Tech Crunch, Business Wire and Chicago Tribune.
Gracenote will look to focus its efforts solely "on metadata and what clients can do with it." With the acquisition of Baseline, Gracenote is able to provide increased metadata to their clients as well as expand their client base as they take on Baseline's previous clients. Gracenote is able to widen its scope by taking on Baseline's subscription service that they offer to "people in Hollywood" who want to "keep track of what's going on in the industry." With this acquisition, Gracenote can also better compete with its rivals like Rovi. This acquisition puts Tribune in a position to build for the future and build new services for their clients in the entertainment industry.
Gracenote didn't need to make any layoffs in the acquisition process, which is a positive. After the acquisition, John Batter replaced Shashi Seth as CEO of Gracenote. In addition, he assumed leadership of Tribune Digital Ventures, which houses Gracenote. John Batter is an entertainment industry veteran and former president of production at DreamWorks Animation. Batter was appointed to set a strategy to build "Gracenote’s core music and video metadata and technology businesses."
Since the acquisition
In 2017, Nielsen Company purchased Gracenote video, music, and sport for $560 million. Nielsen was pleased to acquire Gracenote's global database and technology solutions. The company gains access to Gracenote's "data and technology that underpins the programming guides and personalized user experience around the consumption of video, music and sports content." This grants Nielsen the ability to provide additional services and information to its clients, while also providing information for targeted advertising.
Gracenote's acquisition of Baseline for $50 million in 2014 allowed Gracenote and Tribune Media to grow in the metadata collection and services industry. Gracenote was able to expand its services, provide more detailed information, and take on new clients with the acquisition of Baseline. Since the acquisition, Gracenote was sold to Nielsen for $560 million. This illustrates the success of the company since the acquisition of Baseline.