07.30.2009 04:35 AM
Media Sales Firm Secures $17 Million Investment

SCOTTSDALE, ARIZ.: Cross MediaWorks, a media sales and advertising firm in suburban Phoenix, has secured $17 million from two investors. Chantilly, Va., BIA Digital Partners invested $13 million, and Spring Capital Partners of Baltimore and Radnor, Pa., put in $4 million. Cross will use the money to refinance existing debt and otherwise to run the company.

Previous investors include New York’s Clarion Capital Partners, LLC, a principal investor that partnered with Marc Krigsman and Larry Rubin to build the CMW. Scott Chappell, a principal of BIA, will become an observer to the CMW board of directors.

CMW comprises five brands: Affiliated Media Group, Apex Media, Hispanic MediaWorks, TelAmerica Media, and WizeBuys TV. It provides media sales and advertising services to broadcast, cable and satellite as well as video-on-demand and online platforms. Future plans include mobile platforms. 



Comments
Post New Comment
If you are already a member, or would like to receive email alerts as new comments are
made, please login or register.

Enter the code shown above:

(Note: If you cannot read the numbers in the above
image, reload the page to generate a new one.)

No Comments Found




Tuesday 03:07 PM
WMUR-TV Says FAA Drone Rules Preclude ENG
The FAA’s current rules and proposed ban on flight over people, requirement of visual line of sight and restriction on nighttime flying, effectively prohibit broadcasters from using UAS for newsgathering. ~ WMUR-TV General Manager Jeff Bartlett

Sue Sillitoe, White Noise PR /   Friday 11:15 AM
DPA Microphones Expands Its d:facto™ Vocal Microphone Range
Wall Street Communications /   Friday 04:20 PM
SMPTE 2015 NAB Show Preview

 
Featured Articles
Discover TV Technology