Federated Media Hires An Investment Bank
Federated Media (FM), the advertisement brokerage arm for many high-end clients has hired Savvian, an investment bank to potentially seek additional investors or to be responsible for incoming offers. There were speculations that Federated Media may be looking for an acquisition, but the company said specifically that the they are not interested in selling. FM’s priority is to focus on growth.
Federated Media publishing partners include GigaOM, TechDirt, BoingBoing, Digg, VentureBeat, and Mashable [full list here]. Federated Media is run by John Battelle, one of the original founders of Wired magazine and also author of The Search: How Google and Its Rivals Rewrote the Rules of Business and Transformed Our Culture.
In total, Federated Media raised over $4.5 million from investors such as JP Morgan, The New York Times, and Omidyar Network. Individual investors include Mitchell Kapor, Tim O’Reilly, Mike Homer, and Andrew Anker.
Some of the transactions that Savvian was involved in includes Dell’s acquisition of Everdream, Motricity’s acquisition of Infospace, News Corp.’s acquisition of Beliefnet, and RevolutionHealth’s acquisition of HealthTalk.
[Information Source: paidContent]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry