ZelnickMedia closed its $126.3 million purchase of Alloy Inc., a marketing firm chaired by Geraldine Laybourne.
The transaction was previously announced. An overwhelming majority of Alloy shareholders approved of the $9.80-per-share cash deal.
As announced in June, Laybourne has been named chairman of Alloy. Matt Diamond and Jim Johnson, Alloy's co-founders, will continue to run the company as CEO and COO, respectively.
"Alloy is a unique business, with a proven ability to foster hit intellectual properties such as Gossip Girl, The Sisterhood of the Traveling Pants, The Vampire Diaries and Pretty Little Liars, as well as distribution channels that have unparalleled reach into the tween, teen and college-age markets. We look forward to working with the Alloy team to enhance the value of these assets," Strauss Zelnick, co-founder of ZelnickMedia, said in a release.
Macquarie Capital served as exclusive financial advisor and Kramer Levin Naftalis & Frankel LLP served as legal counsel to Alloy. Simpson Thacher & Bartlett LLP served as legal advisor to ZelnickMedia.
Alloy (Nasdaq:ALOY) is a provider of media and marketing programs reaching targeted consumer segments. ZelnickMedia is a partnership of experienced media executives and investors that manages and owns interests in an array of media enterprises, including video games and interactive entertainment, television advertising, wireless network enabling software, business information, tradeshows, and media-related business services. Current portfolio companies include Take-Two Interactive Software, Airvana, Cannella Response Television, ITN Networks, Arkadium and Naylor Inc. The partnership is currently investing from ZM Capital, its media-focused private equity fund.
The smarter way to stay on top of the multichannel video marketplace. Sign up below.
Thank you for signing up to Multichannel News. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.