NEW YORK--(BUSINESS WIRE)--One Equity Partners ("OEP") today announced it has completed the previously announced acquisitions of Gamut and CoxReps from Cox Media Group ("CMG").
OEP is a middle-market private equity firm with approximately $10 billion in assets under management, seeking to build market-leading companies through transformative combinations within the industrial, healthcare, technology, and media sectors in North America and Europe. Gamut, the award-winning leader in local OTT media, helps brands connect with relevant streaming audiences in every DMA. CoxReps is the country's premier national television representation company and delivers local, smart media solutions on a national scale on behalf of the most respected broadcast groups in the United States.
“We are excited to complete the acquisition of Gamut and CoxReps, which together manage more than $1.5 billion in combined annual media spend, spanning both linear and connected television. Both Gamut and CoxReps are leaders in local video advertising, perfectly poised for further investment to support and grow their long-standing relationships with station group clients, CTV publishers, and agency customers," said Andrew Dunn, Managing Director of OEP. "It’s also part of OEP’s investment strategy to tap into the best industry expertise, so we’re pleased to welcome Mark Rosenthal as Executive Chairman, along with Doug Knopper as a Director; together, they will help guide the future strategy of Gamut and CoxReps."
The presidents of both companies will report to Rosenthal as Chairman of the companies' Board of Directors. Rosenthal has had a long and successful career in media, having served as President and COO of MTV Networks, overseeing all of the Viacom/Paramount cable network properties; as Chairman and CEO of Interpublic Media, where he was responsible for all media buying across all of Interpublic's advertising agencies; and as CEO of Katz Media, the TV, digital, and radio representation firms.
Knopper has extensive experience in the adtech, advertising, and media industries. He co-founded and led FreeWheel, the video advertising technology platform sold to Comcast in 2014. Before that, Knopper was General Manager for DoubleClick in New York and London and held leadership roles at multiple advertising agencies and media companies. He also currently serves on the Board of Directors of Magnite.
"I'm delighted to join Gamut and CoxReps, and I look forward to working with their top-notch teams to explore new and creative avenues of collaboration in order to drive deeper revenue synergies between the two companies," said Rosenthal. "While both companies will remain separate, by working even more closely together, we will offer advertisers the powerful bundle they need to realize the full potential reach of local TV advertising and thereby bring more dollars into local markets for station group clients and CTV providers."
Progress Partners served as financial advisor to Cox Media Group and Terrier Gamut Holdings. The companies were represented on the transaction by Perkins Coie LLP and Fenwick & West, with Morgan Lewis & Bockius LLP serving as special regulatory counsel. One Equity Partners was represented by Latham & Watkins.
About One Equity Partners
One Equity Partners (OEP) is a middle-market private equity firm focused on the industrial, healthcare, technology, and media sectors in North America and Europe. The firm seeks to build market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 300 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt, and Amsterdam. For more information, please visit www.oneequity.com.
About Cox Media Group
CMG Media Corporation (d/b/a Cox Media Group) is an industry-leading media company with unparalleled brands, award-winning content, and exceptional team members. CMG provides valuable local and national journalism and entertainment content to the people and communities it serves. The company's businesses encompass 14 high-quality, market-leading television brands in 9 markets; 52 top-performing radio stations delivering multiple genres of content in 11 markets; a Washington, DC news bureau; and numerous streaming and digital platforms. CMG's TV portfolio includes multiple primary affiliates of ABC, CBS, FOX, NBC, Telemundo, and MyNetworkTV, as well as several valuable news and independent stations. For more information about CMG, visit www.coxmediagroup.com.
About Gamut
Gamut, the award-winning leader in local OTT media, helps brands connect with relevant streaming audiences in every DMA. Leveraging its direct access to brand-safe, premium OTT inventory, and advanced advertising tools, marketers can reach desired local audiences on a national scale with highly engaging and personalized ads. With more than 20 years of digital media experience, Gamut is committed to delivering the highest level of service and expertise to ensure maximum results for its clients and partners.
About CoxReps
CoxReps is the country's premier national television representation company, delivering local, smart media solutions on a national scale on behalf of the most respected broadcast groups in the United States. The company is driven by a highly talented workforce with experience and expertise in innovative research and targeted advertising solutions and a deep understanding of the media landscape. This approach allows CoxReps to identify and fulfill opportunities for customers at local and national scale.