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Cannes Lions Parent Company Ascential Acquires MediaLink
Manuela Walfenzao| 7 de febrero de 2017
Kassan: El trato se debió a la necesidad de expandir el negocio a nivel global
For its deep relationships with marketers, Ascential PLC, the global business-to-business media company and parent company of the Cannes Lions International Festival of Creativity, announced that it has agreed to acquire 100% of MediaLink, a U.S.-based advisory and business services firm. “MediaLink is leader in its industry, with a strong and very visible brand presence in the U.S. It’s an excellent fit with our existing Ascential offering and I am confident we can help accelerate MediaLink’s business into new markets by using our assets and infrastructure over the coming months and years” said Duncan Painter, CEO of Ascential. The deal includes a cash payment of $69 million, but that can reach $207 million over the course of three years if the company hits certain targets, according to MediaLink. The transaction is expected to be completed within the next month. “This is a transformational moment for MediaLink. Propelled by the global footprint of Ascential and the combined resources and talent of our organizations, we are going to write the greatest chapter in MediaLink history. We look forward to collaborating to pursue growth and new opportunities for both companies” said Michael Kassan, Chairman and CEO of MediaLink, who will continue to serve in this position. Founded in 2003, MediaLink employs more than 120 people in the U.S. and had revenues of about $54 million last year. Its clients have included companies such as Time Inc., Condé Nast, Unilever, AT&T, and 21st Century Fox. It has also worked with Cannes Lions’ customers since 2011.
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