CRT Acquires Media Properties Holdings
Top Direct Response Television Media Provider Cannella Response Television Expands Further into Short-form Media and Surging Programmatic Advertising
Cannella Response Television (CRT), America’s leading innovator in long-form direct response television, has announced the acquisition of Media Properties Holdings (MPH), parent company to the nation’s leading, automated advertising platform AdMore, as well as top short-form direct-response provider REVShare and its proprietary network of more than 1,700 local broadcast stations, national cable networks, cable systems, cable interconnects and program syndicators across the U.S. MPH also operates Lead Generation Technologies (LGT), which creates spots that generate consumer engagement and then monetizes those qualified leads through an online bidding system.
The acquisition brings together a vast array of proprietary software tools and combines them with deep, performance-based databases to enable hundreds of CRT’s top marketing and agency partners to now analyze, access and aggregate premium advertising inventory for their DRTV or future programmatic campaigns.
Frank Cannella, CRT founder, said, "The acquisition of MPH is another great milestone for our 30 year-old company. MPH not only has three great business models with tremendous upside potential, but we're also getting a phenomenal management team and staff."
Financial terms were undisclosed, but the combination promises several key advantages including:
• Cannella’s more traditional long-form clients can now complement their ongoing or new campaigns with REVShare’s extensive short-form capabilities.
• REVShare’s short-form clients can leverage Cannella’s expertise and the advantages of long-form to engage consumers in developing a deeper brand story and a more immediate purchase at point of sale.
• Both businesses now benefit from the continued surge in AdMore growth thanks to the sweeping transition underway from traditional media buying to programmatic’s “big data” to drive media spending and verification of reach.
Rob Medved, CRT's CEO, said, "We are very excited about the opportunity to combine two leading automated ad platforms as we continue to take advantage of the shift in content consumption and distribution.”
CRT President Tony Besasie added, "The Cannella and MPH cultures are rooted in innovation and accountability and both organizations are hyper-focused on media aggregation and data management to drive business results. The combined scale, talent, tools and resources will generate more business for our diverse mix of clients and media partners.”
The new entity will operate from its offices in Burlington, WI, with operational offices in Midtown Manhattan, Los Angeles’ “Miracle Mile,” Temecula CA and a technology operations center in Milwaukee WI. Rob Medved will oversee the combined entity as CEO. Tony Besasie will continue to serve as CRT’s President and MPH’s Brendan Condon will serve as President of the AdMore, REVShare and LGT units.
“We’ve been very fortunate to experience exponential growth at AdMore for the past two years, and its continued success is integral to this acquisition,” Condon said. “We can use all the intelligence and insights gained from our programmatic media planning and buying based on audience engagement with specific content in the short-form and now apply it to the most optimal placement of long-form as well.”
In 2009, ZMC and affiliates of Palladium Equity Partners, LLC, along with Veronis Suhler Stevenson, invested in Cannella Response Television and will continue to hold their investments in the combined entity.
Reaching more than 110 million English and Spanish-speaking TV homes across 200 different cities, AdMore can access key inventory from more than 1,700 local broadcast stations, national cable networks, cable systems, cable interconnects and program syndicators throughout the U.S. With continued audience fragmentation plaguing Big Four broadcast channels, and millions of consumers now accessing streaming digital video via multiple devices, the nation’s leading national brands are already shifting billions of dollars in traditional media buying toward these more data-driven solutions.
Media Properties Holdings and the sellers were advised on the transaction by Petsky Prunier Securities.