Lexington, KY / January 12, 2011 / Business Wire /– Viamedia, a provider of outsourced local advertising sales services to video service operators, today announced that it has partnered with and received a significant investment from Lake Capital, a private equity firm that invests exclusively in service-based companies. Viamedia will use the capital and strategic resources provided by Lake Capital to continue to grow the scope and reach of its service offerings through organic initiatives and acquisitions.
Founded in 2001, Viamedia has grown to over 300 employees in 42 designated market areas (“DMA’s”). Viamedia is the largest independent sales organization of DMA-based advertising for U.S. cable television and telecommunications service providers including Verizon, WOW!, RCN, Knology, SureWest, Frontier and Jackson Energy. Today, Viamedia reaches approximately 3.6 million video subscribers through its operator partnerships.
Viamedia’s focus on DMA-based advertising has allowed it to develop relationships with thousands of local advertisers throughout the country. The Company sells advertising on national networks such as ESPN, MTV, Discover, CNN, TNT and FOX News to over 12,000 unique local, regional and national advertisers. In addition, the Company has a relationship with National Cable Communications, the nation’s largest spot cable advertising representation firm, to facilitate national sales by enabling advertisers to reach all households within a given market through multiple operators.
“We are very excited about our partnership with Lake Capital and look forward to having the additional capital and resources to accelerate our growth as the premier provider of outsourced local advertising sales services,” said Jeff Carter, chief executive officer and co-founder of Viamedia. His co-founding partner and Viamedia’s president, Todd Donnelly, elaborated,“In the past nine years, we have built a nationwide sales platform focused on providing exceptional service to both our video service partners as well as our local advertiser clients. Lake Capital’s experience and expertise will be beneficial as Viamedia continues to grow by entering new markets, introducing cutting-edge technologies and enhancing service offerings.”
“We look forward to working with Jeff, Todd and their team to continue to expand Viamedia’s capabilities,” said Tony Broglio, a Lake Capital principal. “Local advertising is an important, rapidly-growing and attractive sector, and Viamedia is at the forefront. As the market continues to grow, we believe Viamedia’s deep understanding of DMA advertising as well as its strong relationships with a large and diverse community of local advertisers positions the company to continue as a market leader across all forms of local advertising.”
About Viamedia Headquartered in Lexington, KY, Viamedia is a leading provider of outsourced local advertising sales services. The company specializes in selling DMA-based advertising to local, regional and national advertisers on behalf of U.S. cable and telecommunications service providers, utility companies and municipalities. For more information on Viamedia, visit www.viamediatv.com.
About Lake Capital Lake Capital is a private equity firm that focuses on investments in service-based enterprises across various industries. The firm currently manages more than $1.3 billion in equity commitments and seeks to build leading services companies through organic and acquisition-enhanced growth. More information about Lake Capital is available at www.lakecapital.com
