Website Rep Firm Receives Equity Investment From Media Industry Leader
Internet and radio rep firms signal the future of media integration
BURLINGTON, MA, and NEW YORK, NY – March 1, 1999 – BURST!, the fastest growing website rep firm, and Interep, the nation’s largest full service radio sales and advertising company, today announced a formal alliance prompted by Interep’s equity investment in BURST!. Continuing a recent trend of strategic partnerships between broadcast and Internet companies, this announcement demonstrates each company’s commitment to corporate expansion and to providing the best representation and service offerings for its members.
“We believe there is a natural compatibility between radio stations and websites: both provide highly-specialized content which is free to the user and paid for by advertising dollars,” states Ralph Guild, CEO of Interep. “Relying on BURST!’s understanding of the Internet advertising space and Interep’s leadership in radio sales, we intend to capitalize on these synergies.”
For BURST!, which provides advertising representation and ad management technology to more than 2,500 member websites, the sale of a minority position underscores its plan for more rapid expansion. “At BURST!, we have truly bootstrapped the company since its founding in 1995, and we believe the online advertising marketplace is finally ready for more rapid growth,” states Jarvis Coffin, CEO of BURST! “We are convinced it is the right time to expand our sales force, as well as meaningful benefits for our website members. Interep’s strategic investment will help us invest in our future, and the future is now.” Through controlled, strategic growth, BURST! was one of the only website rep firms to show a profit in 1998, reporting triple-digit growth in advertising revenues.
Both BURST! and Interep are privately held companies. Interep, with offices in 15 cities and annual billings of more than $1 billion, represents over 2,000 radio stations nationwide. Interep is the parent of ABC Radio Sales, Allied Radio Partners, Caballero Spanish Media, CBS Radio Sales, Clear Channel Radio Sales, D&R Radio, McGavren Guild Radio, as well as the Interep Networks, Sports Marketing and support services including Research, Promotion Marketing and its new business development team, Radio 2000.
BURST! Media, LLC, represents and supports the vital business and creative interests of web publishers. Offering customized advertising solutions and effective ad-management technology, BURST! provides web publishers with the resources they need to offer their specialty content on the World Wide Web. Founded in 1995, BURST! is headquartered in Burlington, Massachusetts, with offices in New York City and San Francisco, and can be found on the web at www.burstmedia.com.