M&A Deal Summary

TEGNA Acquires Captivate Network

On April 2, 2004, TEGNA acquired marketing company Captivate Network from ABS Capital Partners

Acquisition Highlights
  • This is TEGNA’s 1st transaction in the Marketing sector.
  • This is TEGNA’s 6th transaction in the United States.
  • This is TEGNA’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2004-04-02
Target Captivate Network
Sector Marketing
Buyer(s) TEGNA
Sellers(s) ABS Capital Partners
Deal Type Add-on Acquisition

Target

Captivate Network

Chelmsford, Massachusetts, United States
Captivate is the national news and entertainment network that delivers quality programming and advertising to a highly desirable and targeted audience during the workday, when they are making business and personal buying decisions. Captivate is one of the most effective advertising vehicles available, earning a high 37 percent average ad recall, according to Millward Brown studies. Captivate’s network is seen in a distraction-free viewing environment, on wireless flat-panel television screens in the elevators of premier office towers across North America. Currently, Captivate is seen on over 6,700 screens, delivering more than 44 million impressions per month. Captivate is headquartered in Massachusetts with offices throughout North America

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Buyer(S) 1

Buyer

TEGNA

Tysons, Virginia, United States
Category Company
Founded 1906
Sector Media
Employees6,430
Revenue 2.9B USD (2020)
DESCRIPTION

TEGNA is a diversified media company. The Company operates through two business segments, Media and Digital. The Media segment comprises of 46 television stations in 38 markets. The Digital segment consists of the Cars.com (formerly Classified Ventures LLC) and CareerBuilder businesses. TEGNA, Inc. was formerly known as Gannett Co. TEGNA was originally established in 1906 and is based in Tysons, Virginia.

DEAL STATS #
Overall 6 of 26
Sector (Marketing) 1 of 3
Type (Add-on Acquisition) 4 of 16
State (Massachusetts) 1 of 2
Country (United States) 6 of 26
Year (2004) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-10-31 Clipper Magazine

Mountville, Pennsylvania, United States

Clipper Magazine LLC is an independent direct-mail advertising magazine companies. Clipper Magazine has grown from a single four-page campus advertising publication to over 320 individual market editions in 23 states.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-05-06 ShopLocal

Chicago, Illinois, United States

Cofactor Digital is a digital marketing solutions provider, that connects online and offline shoppers across all channels and devices. Cofactor Digital was established in 1999 and is headquartered in Chicago, Illinois.

Buy $75M

Seller(S) 1

SELLER

ABS Capital Partners

Hunt Valley, Maryland, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1990
PE ASSETS 2.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

ABS Capital Partners is a private equity firm that invests in later-stage growth companies in the healthcare, technology, business services, media and communications sectors. ABS provides capital to help fund growth, provide shareholder liquidity, pursue acquisitions, or to effect a management buyout. The Firm prefers US based business and will consider both majority and minority positions. ABS looks to commit $10 to $30 million per transaction. ABS Capital was formed in 1990 and has offices in Baltimore, Maryland; Waltham, Massachusetts; and San Francisco, California.

DEAL STATS #
Overall 17 of 70
Sector (Marketing) 1 of 2
Type (Add-on Acquisition) 6 of 34
State (Massachusetts) 1 of 5
Country (United States) 17 of 69
Year (2004) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-01 Print

Bellevue, Washington, United States

Print, Inc. a growing component of the print management market that provides bundled offerings of printer supplies, service and equipment to manage document production.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-01 Atlantic Aviation

Plano, Texas, United States

Atlantic Aviation provides a wide range of aviation services, including a premier Fixed Based Operations chain and dedicated concierge service across the United States. Atlantic Aviation was founded in 1927 and is based in Plano, Texas.

Sell -
Mergr

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