News | Press Releases
For Immediate Release
BIA Digital Partners invests $6.7 Million in United Metro Media
CHANTILLY, Va., April 12, 2007 - BIA Digital Partners II LP, a private investment firm focusing on mid- to latter stage companies, announced today a mezzanine investment of $6.7 million in United Metro Media, LLC, d/b/a Job News ("Job News" or the "Company"), providing the Company with growth capital to help finance its strategic initiatives. As part of the investment, Scott Chappell, principal of BIA Digital Partners, has been appointed to the Company's board of directors. AdMedia Partners, a New York-based boutique advisory firm, acted as a financial advisor to Job News.
Job News was founded by CEO Michael Talbott in 1994 and is headquartered in Louisville, Ky. The company is the nation's premier independent recruitment solutions company, providing cost-effective employment services, through a suite of products including web, print, job fairs, and broadcast to its national and local customers. The Company boasts a powerful local exposure network, spanning 21 markets across eight states, reaching in excess of 15 million job seekers every year.
"Job News and its ambitious management team have demonstrated that they have identified a profitable approach to providing highly-localized recruitment solutions through a variety of media products," said Chappell. "From our first introduction we were impressed with their skills and long-term planning. They are the type of media company Digital Partners continues to seek and support."
"Job News started as a recruitment advertising 'print publication company;' we have since adopted a broader perspective as a comprehensive 'Recruitment Solutions Company,' said Michael Talbott, President, CEO, and Founder of Job News. "BIA Digital Partner's capital provides the funding necessary to finance our growth initiatives and strategic goals. I was impressed with the knowledge BIA Digital Partners has with respect to media and services businesses, and Scott Chappell will be a welcomed addition to our Board of Directors."
Additional information on BIA Digital Partners II LP is available by contacting Scott Chappell or Damien Dovi at (703) 227-9600. Further information is also available at www.biadigitalpartners.com.
About AdMedia Partners
AdMedia Partners is a leading boutique investment bank that provides middle market mergers and acquisitions advisory services to the advertising and marketing, media and related online, and information services business. Founded in 1990 and located in New York City, the firm has completed over 150 transactions since 1999.
About BIA Digital Partners
BIA Digital Partners is a private investment firm, managing over $225 million. Financing is available for acquisitions, organic growth, recapitalizations and leveraged/management buyouts among other purposes. BIA Digital Partners maintains a focus on mid- to later-stage companies operating in the media and entertainment, telecommunications, information, business and consumer services industries. Investments generally range from $4 to $10 million and are in the form of subordinated debt with warrants or preferred equity. For more information, go to www.biadigitalpartners.com.
BIA Digital Partners has two affiliates, BIA Capital Strategies, LLC and BIA Financial Network (BIAfn). BIA Capital Strategies provides merger and acquisition advice and arranges equity and debt funding. BIAfn, the nation's leading communications appraisal and valuation firm for more than two decades, assists with valuations, research and analysis, strategic consulting, and financial and operational consulting. For more information, visit www.biacapital.com and www.bia.com.
MacKenzie Lovings, (703) 802-2991, email@example.com
Scott Chappell, (703) 227-9610, firstname.lastname@example.org