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Newport Coast Investments (NCI) Acquires Assets & Intellectual Property of Product Placement Technology Firm NextMedium

January 13, 2009

NCI Plans to Maintain Operations

IRVINE, Calif., Jan. 13 /PRNewswire/ — Newport Coast Investments, LLC (“NCI”), the investment arm of Ryan and Chad Steelberg, and Ascend Venture Group, today announced it has agreed to acquire all of the assets, software, and intellectual property of NextMedium, Inc., the Los Angeles, CA-based product placement ad platform for television, film, and online video.

Founded in 2004, NextMedium invested more than $12 million in developing the definitive product placement platform for marketers and entertainment content providers, protected by domestic and international patent filings. NextMedium’s solution, Embed, is the world’s first full-service management system to enable the cost-effective buying, selling and measurement of product placement in entertainment content.

NextMedium has held strategic partnerships with NBC Universal, MTV Networks, and BET Networks, among other premier media partners, for product placement fulfillment and management.

“We continue to look for new and innovative technologies and investment opportunities that extend targeted, measurable advertising to all forms of media,” said Ryan Steelberg, Managing Director of NCI. “As marketers look for new and accountable ways to reach large audiences, a growing number are turning to product placement which allows them to integrate their brands with and into entertainment to more powerfully connect with consumers.”

“Despite the challenging market conditions, we believe that investment in new and innovative advertising platforms and technologies is essential and will provide the basis for future industry growth and increasing advertising effectiveness,” said Chad Steelberg, Managing Director of NCI. “NextMedium’s scalable and extensible product placement technology platform will provide the tools to significantly leverage and grow the media industry into the future.”

The Steelbergs plan to manage NextMedium’s platform and technology base via one of the Steelberg’s operating companies, Brand Affinity Technologies, Inc., (“BAT”) based in Irvine, California. For more information on BAT, please visit www.BrandAffinity.net. NextMedium’s platform and codebase will be transitioned under BAT’s management and control, with the goal to support full operation of the platform in early 2009. Hamet Watt, NextMedium’s founder, and other members of NextMedium’s team will assist in the transition and continue to play a role in the operation of the NextMedium platform and services.

About NextMedium

NextMedium has built an advertising platform specifically for product placement in entertainment content. The company solves major problems for both entertainment companies and brand advertisers by enabling the ecosystem for paid product placement with a centralized marketplace for buying and selling. NextMedium connects advertisers directly to entertainment properties. The platform automates the creation of product placement advertising inventory and enables brand marketers to access and secure contextually relevant, non-interruptive impressions in TV, Film, Online Video, Video Games and Music. For entertainment companies, NextMedium’s technology automates and systematizes the process of providing brand integration services, helping to increase revenue and decrease the transaction costs associated with processing these placements.

About Newport Coast Investments

Founded in 1999, Newport Coast Investments is the private investment vehicle of Ryan and Chad Steelberg. The Steelbergs, prominent pioneers and operators in digital and advanced electronic media, have created in excess of $3 billion in shareholder value, through the successful founding, management, and liquidation of three industry impactful companies. dMarc Broadcasting, founded by the Steelbergs in 2002, was acquired by Google, Inc. in February of 2006. AdForce, founded by the Steelbergs in 1995, was formerly the world’s largest centralized, independent ad-serving and management solution. AdForce went public in May of 1999, and later sold to CMGI. 2CAN Media, founded by the Steelbergs in 1998, grew to become the third largest online sales representation firm and was also acquired by CMGI in 1999. Newport Coast Investments is headquartered in Newport Beach, California.

About Ascend Ventures Group

Ascend Venture Group, LLC is a private investment management firm headquartered in New York City. Ascend combines highly sophisticated financial expertise with unique access to investment opportunities to create attractive risk/reward portfolios and partnerships for its investors. The firm targets investment opportunities in the applied technology and for-profit education industries.

SOURCE Newport Coast Investments, LLC


Source: newswire



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