Welcome to our dedicated page for Magnite news (Ticker: MGNI), a resource for investors and traders seeking the latest updates and insights on Magnite stock.
Magnite, Inc. (NASDAQ: MGNI) is described as the world’s largest independent sell-side advertising company, and its news flow reflects its role in the global ad tech ecosystem. Publishers use Magnite’s technology to monetize content across connected TV, online video, display, and audio, while agencies and brands rely on its platform to access brand-safe, high-quality inventory and execute billions of advertising transactions.
On this page, readers can follow news about Magnite’s product developments, partnerships, financial updates, and legal matters. Recent announcements highlight the evolution of its ClearLine platform to unify curation and activation across premium omnichannel supply, as well as integrations with partners such as Cognitiv to bring deep learning and real-time curation into media buying workflows.
Magnite’s news also covers collaborations that expand programmatic access to new environments, such as cloud gaming on Smart TVs through its partnership with PHȲND and programmatic access to local linear TV inventory through a private marketplace with ITN. In addition, Magnite regularly issues press releases about quarterly financial results, conference participation, and initiatives like Magnite Access being adopted by publisher groups.
Investors, advertisers, and publishers can use this news feed to track how Magnite is positioning its sell-side technology, how it engages with partners across regions such as North America, EMEA, LATAM, and APAC, and how it responds to competitive and regulatory developments, including its disclosed litigation against Google LLC. Bookmark this page to review the latest company-issued updates and market-facing announcements related to MGNI.
Magnite (Nasdaq: MGNI) has successfully closed a $400 million offering of 0.25% convertible senior notes due 2026, yielding approximately $390 million in net proceeds. The notes, issued to qualified institutional buyers, can be converted into cash or common stock at Magnite's discretion. The initial conversion price is about $63.88 per share, a 40% premium over the recent stock price. Proceeds will fund capped call transactions and a portion of the acquisition costs for SpotX, pending regulatory approvals. The deal solidifies Magnite’s financial strategy to foster growth.
Magnite (Nasdaq: MGNI) has priced $350 million of convertible senior notes due 2026 in a private placement, with a potential additional $50 million from initial purchasers. The offering is expected to yield approximately $340 million in net proceeds after discounts and expenses. The initial conversion price is set at $91.26 per share, reflecting a 100% premium over the last share price of $45.63. Proceeds will mainly fund the acquisition of SpotX and cover capped call transaction costs. The notes bear 0.25% interest, maturing on March 15, 2026.
Magnite (Nasdaq: MGNI) has announced a proposed offering of $350 million in convertible senior notes due 2026 in a private placement. The offering is subject to market conditions and may include an additional $50 million if the initial purchasers exercise their option. The notes will have flexible terms, including interest payment and conversion options into cash or common stock. A portion of the proceeds will fund capped call transactions and the acquisition of SpotX, pending regulatory approvals. The offering is not contingent upon finalizing the SpotX acquisition.
Magnite (NASDAQ: MGNI) released its "CTV: The Future Forward" report, surveying 10,500 consumers across the EU5—UK, France, Germany, Spain, and Italy—to analyze TV consumption trends amid the growing popularity of Connected TV (CTV). Key findings indicate that 82% of respondents watch CTV weekly, with the UK having the highest engagement. Furthermore, 83% prefer ad-supported services, highlighting a significant opportunity for advertisers as CTV adoption rises. The report also emphasizes the effectiveness of CTV advertising, noting that 72% of viewers take action after viewing ads.
Magnite (NASDAQ: MGNI) reported fourth quarter 2020 revenue of $82.0 million, a 69% year-over-year increase. Full year revenue reached $221.6 million, up 42% from 2019. CTV revenue rose 53% in Q4 2020, totaling $15.3 million, while OLV revenue grew 35%. Net income was $5.9 million, up from $1.5 million in Q4 2019. The company expects Q1 2021 revenue between $58 million and $62 million. The acquisition of SpotX is set to enhance its position in the fast-growing programmatic marketplace.
Magnite, the largest independent sell-side advertising platform, announced its definitive agreement to acquire SpotX from RTL Group for $1.17 billion in cash and stock. This acquisition will create the largest independent CTV and video advertising platform in the programmatic marketplace, enhancing support for sellers and providing an alternative to larger competitors. Magnite targets over $35 million in operating cost synergies, with expectations to realize more than half within the first year. The transaction is anticipated to close in Q2 2021, pending regulatory approval.
Magnite (NASDAQ: MGNI) launched the open beta of Unified Decisioning, a solution designed for CTV and OTT publishers to optimize yield by integrating direct sold and programmatic demand channels. This tool enables publishers to define how these channels compete, enhancing control and efficiency. The solution is ad server agnostic and offers real-time analytics, benefiting programmatic buyers with better insights into inventory. Industry players like Seven West Media and The Trade Desk have expressed positive initial results, highlighting its potential to improve the video marketplace.
Magnite (NASDAQ: MGNI) will release its financial results for Q4 2020 on February 24, 2021, after market close. A conference call will follow at 1:30 PM PT / 4:30 PM ET to discuss results and future outlook. The call can be accessed via toll-free numbers (844) 875-6911 for domestic and (412) 902-6511 for international callers. A webcast of the call will also be available on Magnite's investor website.
Magnite is recognized as the largest independent sell-side advertising platform, providing technology for publishers to monetize content across multiple formats.
Magnite (Nasdaq: MGNI), the largest independent sell-side advertising platform, announced that CEO Michael Barrett will participate in a fireside chat at the 23rd Annual Needham Growth Conference on January 11th at 1:15 PM ET. The event will be hosted by Laura Martin from Needham. A live webcast will be available in the 'Events and Presentations' section of Magnite's investor relations website, with a replay accessible for 180 days after the presentation.
Magnite (NASDAQ: MGNI) has partnered with Crackle Plus to enhance advertising transparency via its TV content reporting product. This collaboration allows Crackle Plus to share detailed content metadata with advertisers, improving insights into bidding and buying behaviors in real time. The partnership aims to validate the premium nature of Crackle Plus' programming, which sees 50 million streams monthly. Advertisers gain greater confidence in their purchases, aligning with the growing demand for premium connected TV content.