Tuesday, November 29, 2011
Nami Media Acquired By TV Broadcaster
Los Angeles-based Nami Media, a provider of online advertising technology, has been acquired by Providence, Rhode Island-based LIN TV Corp., a publicly traded operator of 32 broadcast television systems. According to LIN TV, it has acquired a majority ownership position in Nami Media. Financial terms of the investment and acquisition were not disclosed. Nami Media is headed by Alex B. Cory, who was previously an EVP at Overture; he also headed up Neven Vision at the time of its acquisition by Google, and also ran FreeConference.com. Nami Media was co-founded by Gary Mittman and Ethan Joffe. Nami Media provides cost-per-click (CPC), cost-per-acquisition (CPA), and other related ad inventory and management software and services. The firm had been founded in 2001.