|
Post by The Ultimate Nullifier on Dec 17, 2014 12:20:06 GMT -6
variety.com/2014/digital/news/21st-century-fox-to-acquire-video-ad-startup-truex-1201381575/21st Century Fox plans to acquire true[X] media, a video-ad startup specializing in consumer engagement and on-demand marketing campaigns. Financial terms of the deal were not disclosed. Following the acquisition, true[X] will remain a stand-alone business — retaining TV, music and video clients such as Pandora and DramaFever — and also will work with Fox Networks Group to develop marketing capabilities on Fox’s proprietary digital platforms. True[x], founded in 2007, sells a digital-marketing platform to publishers and advertisers. Marketing clients include Microsoft, Visa, Apple, Disney, Coca-Cola, Kia, Kraft, Macys, Nestle and Procter & Gamble. James Murdoch, co-COO of 21st Century Fox, already was an individual investor in true[x], which had raised $50 million in funding. Other investors include true[x] founder and CEO Joe Marchese; Jeff Crowe; Joe Horowitz; Kurt Johnson; Brad Jones; Mich Mathews; Jonathan Miller; and Kenneth R. Pelowski. “The connections between brands and consumers have continued to evolve within digital video environments, and true[x] is at the center of this vital area of innovation,” James Murdoch said in announcing the pact. “We’re thrilled at the opportunity to have true[x]’s talented team work with us as we set out together to create new experiences in what we believe is a very exciting time in digital video.” True[x], which has 70 employees, is based in L.A. with offices in New York, Chicago, Seattle, Detroit and Atlanta.
|
|