Alloy Inc. is acquiring assets of Youthstream Media Networks Inc. for $7 million.
The assets include all of Youthstream’s high school- and college-targeted marketing and media properties, such as 20,000 out-of-home display media boards at high school and college campuses; media placement deals for these schools’ newspapers; and event marketing services and contracts.
Mr. Diamond concluded, “We expect the addition of these media assets to increase our fiscal 2003 sponsorship revenues by $6 million to $7 million and add approximately $1 million in incremental EBITDA,” said Matt Diamond, CEO of New York-based Alloy.
Alloy, a Generation Y-focused media, direct marketing and marketing services company, has been on a buying spree lately. In May, it purchased Student Advantage Events and Promotions business, which markets college sports memorabilia direct to parents and alumni, for $6.5 million.
Last month, it bought MPM Holding Inc., the parent firm of a promotions company for the youth market, for $48 million.
Alloy reported first-quarter revenue of $50.4 million this year, a 79% increase over the same period last year.
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