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Tag: Clear Channel

  • SintecMedia buys Operative; creates largest SaaS TV, digital ad management offering

    SintecMedia buys Operative; creates largest SaaS TV, digital ad management offering

    MUMBAI: Operative, Inc. today announced its acquisition by SintecMedia and the transaction would create largest SaaS TV and digital advertising management offering for media companies globally.

    Since 2001, Operative Media, Inc. has developed software and services that help publishers, agencies, networks, and broadcasters simplify the business of advertising. Media companies rely on Operative to sell, traffic, and bill premium ad inventory, increasing revenue and decreasing overhead. Operative’s client base, which controls over 20 percent of the global ad market, features NBCUniversal, Wall Street Journal, Comcast, Clear Channel, BuzzFeed, and Schibsted

    Operative Media, Inc., the global leader in digital advertising business management solutions for major media companies, said the company will be acquired by SintecMedia, a portfolio company of Francisco Partners. The combined company brings together TV and digital ad management for media companies and publishers worldwide. Operative’s management team, including Lorne Brown, the company’s founder, are also investors in the combined business. Brown will take the role of president and remain part of the strategic leadership team within SintecMedia.

    “Operative’s fantastic customer base and digital advertising solutions are the perfect compliment to our own global client roster and television advertising products,” said SintecMedia CEO Amotz Yarden. “With Operative as a key part of our offering, SintecMedia brings TV and digital ad management together, allowing media companies to streamline advertising infrastructure, increase profitability and drive the long term strategic control of their business.”

    SintecMedia is the world’s leading television advertising management technology company. Their advanced TV advertising products maximize yield and streamline operations across direct and programmatic television advertising. SintecMedia systems are used by hundreds of the largest television media companies in the world.

    This year, according to eMarketer, US digital advertising spending will be US$ 72.09 billion, marking the first year that the digital advertising market matches television, with the global market following similar patterns in the near term. In addition to digital’s fast growth, television is rapidly embracing digital and data-driven elements, from smart TVs to audience-based media buying.

    Without the right partners, the rapidly changing TV and digital advertising markets can increase cost and complexity for media companies, from managing yield across direct and programmatic sales to operations and billing. The combined offering from SintecMedia and Operative empowers media companies to ensure a profitable advertising business across channels by seamlessly connecting the most important parts of their ad business while minimizing drag and waste.

    “SintecMedia’s acquisition of Operative is the best possible outcome for our clients and for all media companies working to maximize profitability as TV and digital channels start to intertwine,” said Operative’s incumbent CEO Brown. “We are thrilled to join the SintecMedia team and look forward to continuing to create solutions for media companies in the future.”

    GCA Advisors, LLC acted as exclusive financial advisor and Dentons US LLP, the world’s largest law firm, acted as legal advisor to Operative. Morris Manning and Martin, LLP acted as legal advisor to Francisco Partners and SintecMedia. The acquisition is subject to customary closing conditions including customary regulatory review.

  • SintecMedia buys Operative; creates largest SaaS TV, digital ad management offering

    SintecMedia buys Operative; creates largest SaaS TV, digital ad management offering

    MUMBAI: Operative, Inc. today announced its acquisition by SintecMedia and the transaction would create largest SaaS TV and digital advertising management offering for media companies globally.

    Since 2001, Operative Media, Inc. has developed software and services that help publishers, agencies, networks, and broadcasters simplify the business of advertising. Media companies rely on Operative to sell, traffic, and bill premium ad inventory, increasing revenue and decreasing overhead. Operative’s client base, which controls over 20 percent of the global ad market, features NBCUniversal, Wall Street Journal, Comcast, Clear Channel, BuzzFeed, and Schibsted

    Operative Media, Inc., the global leader in digital advertising business management solutions for major media companies, said the company will be acquired by SintecMedia, a portfolio company of Francisco Partners. The combined company brings together TV and digital ad management for media companies and publishers worldwide. Operative’s management team, including Lorne Brown, the company’s founder, are also investors in the combined business. Brown will take the role of president and remain part of the strategic leadership team within SintecMedia.

    “Operative’s fantastic customer base and digital advertising solutions are the perfect compliment to our own global client roster and television advertising products,” said SintecMedia CEO Amotz Yarden. “With Operative as a key part of our offering, SintecMedia brings TV and digital ad management together, allowing media companies to streamline advertising infrastructure, increase profitability and drive the long term strategic control of their business.”

    SintecMedia is the world’s leading television advertising management technology company. Their advanced TV advertising products maximize yield and streamline operations across direct and programmatic television advertising. SintecMedia systems are used by hundreds of the largest television media companies in the world.

    This year, according to eMarketer, US digital advertising spending will be US$ 72.09 billion, marking the first year that the digital advertising market matches television, with the global market following similar patterns in the near term. In addition to digital’s fast growth, television is rapidly embracing digital and data-driven elements, from smart TVs to audience-based media buying.

    Without the right partners, the rapidly changing TV and digital advertising markets can increase cost and complexity for media companies, from managing yield across direct and programmatic sales to operations and billing. The combined offering from SintecMedia and Operative empowers media companies to ensure a profitable advertising business across channels by seamlessly connecting the most important parts of their ad business while minimizing drag and waste.

    “SintecMedia’s acquisition of Operative is the best possible outcome for our clients and for all media companies working to maximize profitability as TV and digital channels start to intertwine,” said Operative’s incumbent CEO Brown. “We are thrilled to join the SintecMedia team and look forward to continuing to create solutions for media companies in the future.”

    GCA Advisors, LLC acted as exclusive financial advisor and Dentons US LLP, the world’s largest law firm, acted as legal advisor to Operative. Morris Manning and Martin, LLP acted as legal advisor to Francisco Partners and SintecMedia. The acquisition is subject to customary closing conditions including customary regulatory review.

  • US radio station owner Clear Channel sold for $26.7 billion

    US radio station owner Clear Channel sold for $26.7 billion

    MUMBAI: Clear Channel Communications which is America’s biggest radio station owner, has agreed to be acquired for about $18.7 billion by an investment group.

    Clear Channel owns or operates 1,150 radio stations. It also owns a majority of Clear Channel Outdoor, an operator of billboard and bus-stop advertisements.

    The group that has bought Clear Channel is led by Thomas H. Lee Partners and Bain Capital Partners. Under the terms of the agreement, Clear Channel shareholders will receive $37.60 in cash for each share of Clear Channel common stock they hold, representing a premium of approximately 25 per cent over Clear Channel’s average closing share price of $29.99 during the 30 trading days ended October 24, 2006, the day before the Company first acknowledged that it was evaluating strategic alternatives.

    Morgan Stanley, Citigroup, and Deutsche Bank as well as Credit Suisse, RBS and Wachovia are acting as financial advisors and providing firm financing commitments to the private equity group. Morgan Stanley, Citigroup, Deutsche Bank, Credit Suisse and RBS are also providing equity commitments.

    Clear Channel CEO Mark P. Mays said, “We are very pleased to announce this transaction which provides substantial value to our shareholders. We look forward to working with Thomas H. Lee Partners and Bain Capital Partners to continue our business plan to provide exceptional programming to our audiences and value to our advertising partners.”

    Clear Channel also plans to sell 448 of its radio stations in markets outside the top 100 – Madison is in the top 100 – as well as its 42-station television group, which also are located in smaller markets. Collectively the properties made up less than 10 per cent of the company’s revenues last year.

    Thomas H. Lee Partners co-president Scott Sperling said, “Clear Channel is one of the nation’s truly great companies that has the finest collection of outdoor and radio assets in the industry. We are extremely pleased to be partnered with the management team led by Mark and Randall Mays and to have the opportunity to work with them and to grow this company that was created by its chairman and founder, L. Lowry Mays. Clear Channel has tremendous long term growth opportunities in both the radio and outdoor businesses and we look forward to partnering with Mark and Randall to create value in the years ahead.”

    Bain Capital MD John Connaughton said, “We are very impressed with Clear Channel’s strong management team and the company’s leadership positions in a variety of markets and media formats. Clear Channel is an exceptional media franchise that is well-positioned to grow thanks to the solid foundation the Mays family has created. We look forward to partnering with Clear Channel as it continues to innovate in meeting the changing needs of the audiences and advertisers it serves.”