May 2011
Outcast Media
Petsky Prunier advises Outcast Media on its merger with PumpTop TV and Health Club Media Network and the Combined Entity’s Growth Equity Capital Raise
Petsky Prunier is pleased to announce it has advised Outcast Media on its merger with its long-time joint venture partner PumpTop TV, as well as on its expansion into the fitness vertical through a merger with Health Club Media Network (HCMN), the largest advertising company in the health club industry. The combination of the three companies creates a place-based advertising network reaching on-the-go consumers in more than 5,000 gas stations and health clubs in 130 U.S. markets. Parthenon Capital Partners, a growth-oriented private equity firm and current investor in HCMN, will invest new equity capital in the combined company to fuel continued growth and expansion.
Outcast will initially operate the new company as two channels with a common purpose of reaching active consumers in spend-ready environments. Outcast’s PumpTop TV network reaches consumers at the pump via 11,000 one-to-one high definition displays. HCMN, which will be run as a division of Outcast, reaches active consumers inside nearly 4,000 health clubs through a combination of high definition digital and static displays.
Outcast’s Matthew Stoudt and Nathan Gill will lead the management team as chief executive officer and chief revenue officer, respectively. The company is headquartered in Santa Monica, California, with offices in New York City and Chicago.
A team from Petsky Prunier, led by Norm Colbert and John Prunier, served as exclusive financial advisor to Outcast.
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