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6.1.2004
Great Hill Partners Announces the Formation of Targeted Media Partners
Boston, MA and New York, NY -- June 1, 2004 -- Great Hill Partners, LLC announced today the formation of Targeted Media Partners, LLC, which has been formed in partnership with Corey J. Gottlieb to develop and acquire out-of-home media properties.
Targeted Media's goal is to leverage technology to provide innovative advertising solutions that meet the needs of today's media market. With the continued fragmentation of the traditional media audience, the ability to offer targeted advertising to captive audiences is increasingly important. To capitalize on that opportunity, Targeted Media Partners will concentrate largely on the digital delivery of high-impact advertising to captive audiences in major markets.
As part of its strategic plan, Targeted Media has closed on its first acquisition, Global Vision Interactive, Inc., which operates a network of interactive digital displays inside taxicabs. The rollout phase will include Boston, Chicago and San Francisco, followed by deployments in additional major markets. To achieve its long-term strategy, Targeted Media is actively pursuing additional acquisitions of select out-of-home media properties.
Corey Gottlieb, CEO of Targeted Media, said, "We plan to help clients achieve superior returns on their advertising investment by providing the opportunity to utilize rich media and interactivity in their out-of-home campaigns. In creating this platform, it is clear that Great Hill shares our vision on capturing the market opportunity, as they have a long history in the media and out-of-home industries."
"We are delighted to partner with Corey and his team. They possess a wealth of industry experience and a unique understanding of the out-of-home marketplace," added Steve Gormley, Founder and Managing Partner of Great Hill Partners. "We look forward to helping them build a market leader and execute on their long-term strategic plan."
Steve Gormley and Gene Yoon will join Corey Gottlieb on Targeted Media Partner's Board of Directors as part of this transaction.
About Targeted Media Partners
Targeted Media is an emerging media company committed to developing the types of technologies that allow marketers to utilize the benefits of sight, sound and motion, as well as interactivity, to make their out-of-home messages timely, relevant and compelling to consumers. More information can be found at
www.targetedmediapartners.comAbout Great Hill Partners
Great Hill Partners is a private equity firm that manages over $1 billion in capital and focuses on investing in companies in education, business services, media, information, IT, and communication sectors. Great Hill Partners is currently investing its $460 million fund, Great Hill Equity Partners II, L.P., and targeting investments of $10 million to $50 million.
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