LIN Media Acquires Majority Ownership in HYFN
LIN Media Acquires Majority Ownership in HYFN
Expands Digital Media Portfolio with Industry-Leading Social and Mobile Marketing Solutions Company
PROVIDENCE, R.I.--(BUSINESS WIRE)-- LIN TV Corp. ("LIN Media"; NYSE: TVL), a local multimedia company, announced today that it acquired a majority ownership position in HYFN, a full service digital agency that develops and implements award-winning mobile, social and web experiences for some of the world's largest brands.
"Our acquisition of this growing and successful company is part of our continued investment to build our digital media ecosystem in a strategic way that drives synergies and positions us as the leading one-stop-shop for all marketing needs," said Vincent L. Sadusky, President and Chief Executive Officer of LIN Media.
Founded in 2000 with offices in Los Angeles, California and New York, New York, HYFN is a collective force of strategic, creative, engineering and client service specialists that deliver results-driven campaigns for mid-size, Fortune 500 and global companies that want to reach and engage their target audiences wherever they are, on any device.
HYFN's proprietary social media management system, HYFN8, allows brands to manage their entire social presence in a consolidated dashboard. Its unique social platform provides custom listening and profile management streams, post scheduling tools, a robust web based social media and web application builder, and deep analytics to allow for better engagement and monetization.
HYFN is a member of the elite Facebook® Preferred Marketing Developer program that recognizes developers who have built value-added products in one or more of four qualification areas -- Pages, Ads, Apps and Insights -- represented by individual badges. HYFN is one of only 12 developers worldwide that have been awarded three out of the four badges.
"The demand for robust social and mobile marketing solutions that break through the clutter continues to grow at a rapid pace," said Robb Richter, Senior Vice President Digital. "We've been extremely impressed with HYFN's digital capabilities, business model and the strength of their management team. There are important competitive advantages that result from having the agency's creative talent in the same room as their engineers."
HYFN, which was named one of America's Fastest-Growing Private Companies in 2012 by Inc. magazine, will join LIN Media's growing Digital Media portfolio. The Company will fully leverage HYFN's services, solutions and technology, including its social media management platform, as well as its creative and technology capabilities, to expand its offerings and synergies.
Morgan Harris, who will continue in his role as Founder and Chief Executive Officer of HYFN, said, "We are excited about this incredible opportunity to be part of LIN Media's impressive digital media portfolio. It represents a very important piece of our strategy to significantly grow our business and enhance our already powerful reach in the digital marketplace."
About LIN Media
LIN Media is a local multimedia company that operates or services 43 television stations and seven digital channels in 23 U.S. markets, along with a diverse portfolio of web sites, apps and mobile products that make it more convenient to access its unique and relevant content on multiple screens.
LIN Media's highly-rated television stations deliver important local news and community stories along with top-rated sports and entertainment programming to 10.5% of U.S. television homes. The Company's digital media operations focus on emerging media and interactive technologies that deliver performance-driven digital marketing solutions to some of the nation's most respected agencies and brands. LIN TV Corp. is traded on the NYSE under the symbol "TVL".
This press release includes statements that constitute "forward-looking statements," including statements regarding our future plans and operations. Forward-looking statements inherently involve risks and uncertainties that could cause our actual results to differ materially from the forward-looking statements. Factors that could contribute to such differences include, but are not limited to, our ability to successfully expand our digital operations and other risks detailed in our periodic reports filed with the Securities and Exchange Commission. Reports may be accessed online at www.sec.gov or www.linmedia.com. By making these forward-looking statements, we undertake no obligation to update these statements for revisions or changes after the date of this press release.
Courtney Guertin, 401-457-9501
Corporate Communications Manager
KEYWORDS: United States North America Rhode Island
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