Cybereps, an online ad sales and marketing firm, and Interep Interactive, the online advertising and streaming media division of radio company Interep, are joining forces to become the first interactive marketing and integrated media sales and web publishing company.
The transaction includes an investment by Interep, giving Interep 51% ownership of the merged company.
The new company will operate under the Cybereps name and will build on both companies' extensive media expertise and experience in developing both online and offline advertising campaigns and sponsorships.
Ralph Guild, Chairman of Interep, commented on the merger by noting, "Interep has a tradition of being on the forefront of innovation. We continuously challenge ourselves to be on the cutting edge in radio, market research and media representation."
Mike Warsinske, CEO of Cybereps said, "This provides us with the resources and corporate infrastructure that we need to move our company to the next level of sales and profitability. We also gain access to some of the industry's most savvy marketing professionals, giving us the ability to create and implement large integrated media packages for advertisers. This includes online sponsorships, custom publishing, cross-media promotions, streaming audio and video, radio, and email."
Adam Guild, President of Corporate and Business Development added, "This latest move is right in line with our strategy. A merger of the executive management and sales divisions of both companies, along with Interep's infrastructure, creates a company that will be a leader in interactive and cross media selling."