|[January 28, 2014]
LIN Media Announces Agreement to Acquire Federated Media
AUSTIN, Texas --(Business Wire)--
LIN Media LLC ("LIN Media")(NYSE:LIN), a local multimedia company,
announced that its subsidiary, LIN Digital Media LLC, has entered into a
definitive agreement to acquire Federated Media Publishing, Inc.
("Federated Media"). Federated Media is an industry-leading digital
content and conversational marketing company that leverages the deep
relationships and content from its exclusive Publishing Network to
deliver contextually relevant advertising opportunities, and
conversational and engagement tools that effectively reach agencies' and
brands' targeted audiences across digital and social media platforms.
"The acquisition of Federated Media brings an additional layer of
dynamic, proven and integrated solutions to our ever expanding
platforms," said Vincent L. Sadusky, President and Chief Executive
Officer of LIN Media. "Superior content is at the epicenter of both our
companies, and this acquisition will extend our core competencies, drive
important synergies and further diversify our revenue streams."
Federated Media pioneered "conversational marketing" around the concept
that high-quality independent sites and services attract influential
audiences who together create meaningful dialogue to enhance brand
loyalty and drive increased sales. Founded in 2005, with offices in New
York, NY, San Francisco, CA (News - Alert), and Chicago, IL, Federated Media is a
primary partner for agencies and brands looking to build relationships
with high influence bloggers that produce original content on a daily
basis for a wide variety of vertical categories, including parenting,
lifestyle, food, fashion, business and technology.
"Extending a brand's footprint with consumers across all screens has
been the core strategy, strength and growth catalyst for LIN Media since
day one," said Robb Richter, LIN Media's Senior Vice President Digital.
"Ading Federated Media to our portfolio, inclusive of our ComScore Top
15 Video and Display rankings, provides new opportunities for agencies
and brands to reach their chosen demographic with the right ad, to the
right audience, at the right time."
Federated Media's core demographics, content verticals and reach of over
33 million unique visitors per month will provide LIN Media's clients
deeper engagement, more robust native ad solutions and significantly
extend its premium video and social platform offerings. In a powerful
combination with the leading technologies across LIN Media's portfolio
of video, display, mobile and social platforms, including its recently
launched Video Insights Platform ("VIP"), agencies and brands can
efficiently and effectively reach their targeted audiences at scale,
leveraging the latest in conversational marketing, digital solutions and
reporting across all platforms.
"We are excited that Federated Media will be a part of LIN Media's
impressive digital media portfolio," said John Battelle, Founder,
Chairman and CEO of Federated Media. "Through this acquisition, the
Federated Media brand will continue to be a leader in content marketing,
with greater access to resources and capital to better help major brands
engage in authentic, compelling conversations."
Prior to closing, Federated Media will transfer the assets obtained
during its 2011 acquisition of Lijit Networks, Inc. to a newly formed
company, sovrn Holdings, Inc.
About LIN Media
LIN Media is a local multimedia company that operates or services 43
television stations and seven digital channels in 23 U.S. markets, along
with a diverse portfolio of websites, apps and mobile products that make
it more convenient to access its unique and relevant content on multiple
LIN Media's highly-rated television stations deliver important local
news and community stories along with top-rated sports and entertainment
programming to 10.5% of U.S. television homes. The Company's digital
media operations focus on emerging media and interactive technologies
that deliver performance-driven digital marketing solutions to some of
the nation's most respected agencies and brands. LIN Media is traded on
the NYSE under the symbol "LIN".
This press release includes statements that constitute "forward-looking
statements," including statements regarding our future plans and
operations. Forward-looking statements inherently involve risks and
uncertainties that could cause our actual results to differ materially
from the forward-looking statements. Factors that could contribute to
such differences include, but are not limited to, our ability to
successfully expand our digital operations and other risks detailed in
our periodic reports filed with the Securities and Exchange Commission.
Reports may be accessed online at www.sec.gov
By making these forward-looking statements, we undertake no obligation
to update these statements for revisions or changes after the date of
this press release.
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