Gannett Teams with Generation Partners to Fuel Growth of Captivate Network
Marc Kidd Named Chief Executive Officer
Mark Shapiro Appointed Chairman
MCLEAN, Va. and GREENWICH, Conn., Sept. 26, 2013
MCLEAN, Va.and GREENWICH, Conn., Sept. 26, 2013 /PRNewswire/ -- Gannett Co.,
Inc. (NYSE: GCI) today announced that it is partnering with Generation
Partners, a private equity firm with extensive experience in growth-oriented
investments, to fund the continued growth and expansion of the Captivate
Network, which will be spun out into a separate company co-owned by Gannett
and Generation. Founded in 1997, Captivate operates an IP-enabled digital
place-based media network with over 10,000 screens across more than 1,000
commercial office buildings in the U.S. and Canada.
This partnership will provide Captivate with the necessary capital and
strategic focus to drive growth in the coming years. As Gannett expands and
invests in higher growth core and new businesses, this move will further focus
investment on its media and marketing services transformation strategy.
Additionally, Gannett will continue to participate in the future value
creation at Captivate and will benefit from the ongoing distribution of its
engaging content for Captivate's displays.
"Captivate is one of the most established brands in the digital place-based
industry, with the largest network in North America to reach a highly
desirable consumer demographic in a captive office environment," said Andrew
Hertzmark, managing partner of Generation Partners. "The company has strong,
long-term relationships with both advertisers and property owners and our goal
through this partnership is to continue to build on Captivate's 16-year
history of providing a valuable experience for viewers, building owners and
Captivate also announced that Marc Kidd has been named Chief Executive
Officer. Kidd is a seasoned marketing, media and entertainment executive who
has been on the forefront developing communications platforms to connect
branded content with clients wanting to engage their consumers. Having started
his career at Host Communications in the early 1980s, Kidd pioneered the
corporate sponsorship business for college and high school sports. In 2004,
Kidd joined Winnercomm, which was the leading provider of third-party produced
content to ESPN. Marc was named COO of Winnercomm in 2006 and became its
President in 2007. Outdoor Channel Holdings acquired Winnercomm in 2009, at
which point Kidd became President, Media Sales of Outdoor Channel Holdings.
Outdoor Channel enjoyed record sales growth under Kidd's leadership.
"It is an honor to be given the opportunity to lead Captivate," commented
Kidd. "As a leader in the digital place-based media industry, Captivate is
perfectly positioned to take advantage of the growing industry trend of
reaching audiences on the go, on the path to purchase. With over 10,000
screens reaching 5.6 million upscale professionals each month in both the U.S.
and Canada, Captivate delivers a highly compelling value to advertisers
seeking to target a very affluent, but difficult-to-reach, audience. I am
thrilled to partner with Generation, Gannett, and the entire Captivate
management team and look forward to building on Captivate's success."
In addition, Mark Shapiro has been named Captivate's Chairman and is an
investor alongside Generation. Shapiro has extensive experience and contacts
in the advertising, television, sports and entertainment industries and also
has a strong track record in the digital place-based media industry. Shapiro
was most recently the CEO of Dick Clark Productions ("DCP"), an entertainment
and production company that produced the Golden Globes, the American Music
Awards, the Academy of Country Music Awards and many other hit shows. DCP was
sold in 2012 for over $370 million, more than double the acquisition price
just four years earlier. Prior to Dick Clark Productions, Shapiro was the CEO
of Six Flags after a highly successful career at ESPN, where he was the
Executive Vice President of Programing and Production responsible for the
development, acquisition and scheduling of all programming. While at ESPN,
Mark garnered 16 Emmy Awards and two Peabody Awards. Mark currently serves as
a director of Equity Residential, Frontier Communications Corporation, Papa
John's International and Live Nation Entertainment, Inc.
"The idea of contributing to a company at the epicenter of content,
technology, eyeballs and advertising is extremely appealing and very
exciting," said Shapiro. "Partnering on this opportunity with Generation and
Marc Kidd, both of whom I have known for nearly a decade, combined with the
strength and track record of Gannett, provides Captivate with outstanding
strategic, financial and execution resources."
Captivate has offices in Chelmsford, MA, New York City, Chicago, Los Angeles,
About Generation Partners
Generation Partners is a private equity firm with over $350 million of capital
under management. Generation provides equity capital to growth companies and
pursues both majority and minority investments. Over the past 25 years, the
firm's principals have invested in more than 50 companies in three primary
industry groups: Media & Communications; Healthcare Services & Software; and
Business & Information Services. Generation focuses on recurring revenue
service businesses with strong growth drivers and specializes in helping
entrepreneurs install best practices and build exceptional management teams to
accelerate growth and to achieve sustainable competitive advantage. The firm
provides long-term capital and drives returns primarily from core business
growth rather than from financial leverage. Current and prior portfolio
companies include the following: Agility Recovery Solutions, American
Cellular, Demand Media, Donuts, iCrossing, MedVance Institute, Muzak, New Wave
Communications, Post Education, ReCept Pharmacy, Sterling Infosystems,
thePlatform and Virtual Radiologic. Generation has offices in Greenwich, CT,
Los Angeles, CA, and Austin, TX. For more information on Generation Partners,
please visit www.generation.com.
Gannett Co., Inc. (NYSE: GCI) is an international media and marketing
solutions company that informs and engages more than 100 million people every
month through its powerful network of broadcast, digital, mobile and
publishing properties. Its portfolio of trusted brands offers marketers
unmatched local-to-national reach and customizable, innovative marketing
solutions across any platform. Gannett is committed to connecting people – and
the companies who want to reach them – with their interests and communities.
For more information, visit www.gannett.com.
About Captivate Network
Captivate Network is the leading digital media company reaching millions of
on-the-go business professionals throughout the workday across North America.
Captivate cuts through the clutter of information overload to provide viewers
with content and product messages that are timely, relevant and empower them
to balance the personal and professional demands of the workday. Known for its
vast network of 10,000 office elevator displays, Captivate continues to expand
the delivery of customized, actionable information to a busy, upscale audience
via emerging technology platforms. Founded in 1997, Captivate was acquired by
Gannett in 2004. For more information, visit www.captivate.com.
SOURCE Gannett Co., Inc.; Generation Partners
Contact: Jeremy Gaines, Vice President, Corporate Communications, Gannett,
703-854-6049, firstname.lastname@example.org, Andrew Hertzmark, Managing Partner,
Generation Partners, 203-422-8215, email@example.com, Dan Levi, Chief
Marketing Officer, Captivate Network, 646-205-8527, firstname.lastname@example.org
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