Articles
News
Channel M Prepares for More Dynamic Growth in 2008 with Venture Capital Funding and New Board Appointment
LOS ANGELES-(Business Wire)-January 25, 2008 - Leading out-of-home video Company Channel M announced today a $6 million dollar investment led by Ascend Venture Group with participation from existing partner, Vintage Capital.
"As part of our investment strategy focused on the brand services industry, we reviewed numerous companies in the alternative out-of-home space. Channel M's foresight into the emerging out-of-home advertising market and its consistent, results-driven creativity made for a very compelling business model and highly attractive investment opportunity. We are confident that Channel M will be a great complement to our other brand services investments," added Darryl Wash, Managing Partner of Ascend Venture Group.
"We have been very impressed with the progress Channel M has made since our initial investment. The out-of-home media space represents an attractive growth industry for investors and Channel M has the largest proven footprint in a market on the verge of substantial growth. Channel M remains a priority for Vintage and we are committed to providing support as needed to help the Company reach its potential. It's a very exciting time," added Mark Sampson, Managing Director of Vintage Fund Management.
In addition to receiving this latest investment, Channel M has appointed a new member to its board of directors. Bill Apfelbaum, current Chairman of Titan Outdoor, brings his industry recognized sales and marketing skills and an amazing track record to Channel M's Board. Prior to Titan, Mr. Apfelbaum served as Chairman and Chief Executive Officer of TDI which became the country's largest diversified outdoor media company. Apfelbaum, a long-time investor in Channel M, brings over 20 years of leadership and experience on how to effectively grow and expand businesses. Mr. Apfelbaum joined the Channel M board effective January 1, 2008.
"I am so pleased to join Channel M's board of directors and to be a part of its growth in the rapidly expanding out-of-home video space," Apfelbaum said. "Channel M has distinguished itself from its competitors by providing original and entertaining content that engages target audiences and provides results for retailers and advertisers. I'm eager to help the Company realize its incredible potential for growth."
In 2007, Channel M grew its out-of-home video network to include more than 20,000 US locations. The Company established ecko TV, an in-store television network for the vanguard fashion brand, and expanded its work with GameStop. Additionally, Channel M worked with children's fitness facility MyGym to develop relationship marketing partnerships with leading children's brands Huggies and Playskool. During the last year, Channel M also expanded its team in key areas to support the Company's growth.
"2007 was a year of growth and innovation for Channel M, and we look forward to building on this success in 2008," said David Teichner, CEO of Channel M. "With Bill Apfelbaum bringing his expertise to the board of directors and this round of new funding, Channel M will be able to create even more strategic partnerships and deliver unique alternative out-of-home video marketing campaigns."
About Channel M
Channel M is the largest provider of content and advertising for out-of-home video in North America. The Company produces award-winning, cutting-edge video content that engages and entertains each demographic specific to its retail and lifestyle venues. The Company's growing network of channels provides marketers the ability to reach a variety of demographics with television advertising, in-store signage, product integration and national promotions. Channel M's network includes 20,000 locations. Currently, Channel M is offering marketers access to 7,000 locations with monthly traffic of over 100 million.
About Ascend Venture Group, LLC
Ascend Venture Group, LLC ("Ascend" or the "Firm") is a private investment management firm headquartered in New York City. Ascend combines highly sophisticated financial expertise with unique access to investment opportunities to create attractive risk/reward portfolios and partnerships for its investors. The Firm targets investment opportunities in applied technology, particularly focusing on companies in the following areas: brand services, data center infrastructure, speech and communications, travel and corporate productivity focused enterprise software and for-profit education. Ascend currently manages more than $150 million. For more information, please visit www.ascendventures.com.
About Vintage Fund Management, LLC
Vintage Fund Management, LLC ("VFM" or "Vintage") is a private investment firm based in Los Angeles managing capital on behalf of some of the largest investors in the United States. Vintage provides flexible growth capital solutions to owners and operators of established middle market companies headquartered in the United States. These business owners typically have a significant amount of their net worth invested in their business and seek a flexible capital solution and a value added partner to assist in the growth and expansion of their business. Vintage provides capital for acquisitions, balance sheet restructurings, majority or minority recapitalizations, or in support of a management-sponsored buyout. For more information about Vintage please contact Mark Sampson at 310-979-9090 or visit us at www.vintagecapitalgroup.com.
