Big Flower Invests in Internet Advertising Network.NEW YORK--(BUSINESS WIRE)--April 7, 1998-- Strategic Investment Allows Big Flower to Provide Complete Internet Advertising Delivering ads to Internet users via Web sites, e-mail, ad-supported software and Internet-enabled cellphones. Also called an "ad network," Internet advertising organizations act as a middleman between the advertiser and the Web sites and software publishers that display the ads. Package Big Flower Holdings, Inc. (NYSE NYSE See: New York Stock Exchange : BGF BGF Black Guerrilla Family (Afro-American prison gang symbol/tattoo) BGF Boursier du Gouvernement Français (French) BGF Black Guerilla Family (gang) BGF Best Guy Friend ) announced today its strategic investment in 24/7 Media, Inc., a newly formed Internet advertising firm based in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . 24/7 already provides advertising sales and related services for over 100 web sites. 24/7's clients include AT&T WorldNet, Columbia House Columbia House operates a music and DVD club, and as such is a direct seller of DVD movies and box sets, offering its selections through “club membership” agreements. , Comedy Central, Reader's Digest Reader's Digest U.S.-based monthly magazine. Founded by DeWitt and Lila Wallace, it was first published in 1922 as a digest of articles of topical interest and entertainment value condensed from other periodicals. , Reuters MoneyNet, Frommer's Travel Guide, Rolling Stone rolling stone Noun a restless or wandering person , Modern Bride and Better Homes and Gardens Online and others. 24/7 Media, Inc. combines various resources from Petry Interactive, Inc., Katz Millennium Marketing and Interactive Imaginations, Inc. The company will provide an estimated 400 million advertising impressions per month, making it among the largest interactive sales companies. The Internet advertising marketplace has grown rapidly, from $55 million in 1995 to more than $1 billion in 1997, according to Jupiter Communications, a leading provider of research, analysis and consulting for the online industry. "We are pleased to be a part of this innovative and powerful new business. We believe that our own operating companies will benefit from this association, and that our customer relationships will be valuable to 24/7," said Theodore Ammon, Chairman of Big Flower Holdings, Inc. "We are pleased to be associated with a leading advertising and marketing services company such as Big Flower. We expect that the relationship will provide 24/7 with new opportunities to help us in building our business. Laser Tech Color's digital asset archiving systems are attractive to many of our customers who need powerful software to manage images needed for their web sites. In addition, TC Advertising's Secure-Tran Web Systems offers us an exciting opportunity to expand into retail, a new category of business for our company," said David J. Moore, Chief Executive Officer of 24/7 Media, Inc. -0- Big Flower Holdings, Inc. is a leading advertising and marketing services company with three principal lines of business: targeted advertising inserts and circulation-building newspaper products, customized direct mail and direct marketing, and digital services, including outsourced digital premedia and computer-based management systems for the broadcast industry. For the twelve months ended December 31, 1997, the Company's pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma revenues were approximately $1.6 billion, including the recently completed acquisitions. CONTACT: Big Flower Holdings, Inc., New York Nancy S. Murray, 212/521-1606 e-mail: nmurray@bigflower.com |
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