PHOENIX, AZ, March 26, 2012.-- EL Media, a division of Phoenix-based Ellman Companies, announced today that Cantor Fitzgerald, L.P., a leading financial services firm, purchased a stake in EL Media and all of its subsidiary media entities (EL Media) for an undisclosed sum. The transaction follows last year’s venture that EL Media entered with a division of Panasonic Corporation to help further a massive network of digital signage throughout North America.
EL Media's current outdoor signage business includes operations in Los Angeles, Las Vegas, Phoenix, Denver and San Jose in the United States and its joint venture with Clear Channel Outdoor in Canada with operations in Toronto, Montreal, Ottawa, Edmonton, Vancouver and Winnipeg.
EL Media has an exclusive digital venture with Panasonic throughout the U.S., Canada and Mexico and a venture with Swift Transportation in Truckside Media for exclusive advertising rights on their 47,000 truck trailers.
“Today’s announcement involving a renowned Wall Street firm like Cantor Fitzgerald, and last year’s affiliation with Panasonic, provides EL Media with significant capital to grow and establish a global outdoor media network,” said Steve Ellman (top right photo), Founder and CEO of EL Media.
“We plan to continue to grow our media presence through both acquisitions and organic development,” he said. EL Media currently has over 2,000 billboards in its portfolio.
Steven Kantor (middle left photo), Global Head of Investment Banking at Cantor Fitzgerald stated, “We were attracted to EL Media’s near debt-free balance sheet, goal to create one of the largest digital networks in North America, its growth opportunities and technological market advantages due to its exclusive venture with Panasonic.”
Under the terms of the agreement, Ellman will continue to be responsible for all day-to-day operations of EL Media and its subsidiaries.
Ellman has been involved in the outdoor signage business since the mid-1990s. Ellman bought Clear Channel Outdoor's majority interest in Clear Channel Branded Cities in October 2010 after being a partner with Clear Channel Outdoor in the U.S. for several years. Ellman remains a partner with Clear Channel Outdoor throughout Canada.
EL Media will deploy Panasonic cloud technology to distribute specialized, targeted advertising and information content to digital signs across North America, offering customers the ability to advertise in major city centers seamlessly.
Contact:
David Ebeling
Ebeling Communications
949.861.8351
949.278.7851 (Cell)
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