LIN TV has acquired the online advertising services company Red McCombs Media (RM Media) in an effort to enrich LIN's local multiplatform offerings. The acquisition strengthens LIN's local strategy by "providing national advertising and enhanced services, including targeted display, rich media, video advertising, custom-built vertical channels, search engine marketing, search engine optimization, and mobile marketing," LIN said in a statement.
LIN shelled out approximately $7.9 million for RM Media, including $1.2 million in cash, $4.5 million in stock, and $2.2 million in the form of an unsecured promissory note.
"RM Media advances LIN's transformation from a local broadcaster to a digital media company with a national footprint," said LIN President/CEO Vincent Sadusky. "RM Media was founded by innovative and entrepreneurial leaders who have a clear understanding of new media engagement and a first-to-market advantage."
Austin-based RM Media was founded in 2004 by Jon Flatt, who later paired with entrepreneur Red McCombs on the venture. According to the LIN statement, RM Media "connects targeted audiences with advertisers and publishers based on demographic, psychographic and consumer behaviors to enhance branding and maximize client return on investment."
"RM Media's foundation for success is, and will continue to be, providing unparalleled client service and achieving measurable results for our clients," said Flatt, who is RM Media's president. "As part of LIN TV's digital media strategy, we will be able to benefit from important synergies and have greater resources for growth, enhanced service and innovation."
The television industry's top news stories, analysis and blogs of the day.
Thank you for signing up to Next TV. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.