Bright Mountain Media Completes Accretive Acquisition of CL
Wild Sky Media Acquisition Reaches Diverse Audience With Over 30 Million Unique Visitors Per Month
BOCA RATON, FL, June 08, 2020 (GLOBE NEWSWIRE) – Bright Mountain Media, Inc. (OTCQB: BMTM) (“Bright Mountain Media” or the “Company”), an end-to-end digital media and advertising services platform, has acquired CL Media Holdings d / b / a / Wild sky media (“Wild Sky”) of Center Lane Credit Partners Master Credit Fund II, LP under a secured term loan and share purchase transaction. The acquisition of Wild Sky should be immediately accretive for Bright Mountain Media.
Wild Sky Media, an interactive media company that offers significant global reach through its hyper-engaging content and niche audiences, has become a wholly owned subsidiary of Bright Mountain Media. Wild Sky Media is the home of parenting and lifestyle brands Coffee mom, Mom.com, Little things, Revelist, Baby name assistant, and MomsLatinas, reaching over 360 million unique and diverse users every year. In fiscal 2019, Wild Sky generated total gross revenues of approximately $ 22.6 million with gross margins above 50%.
The transaction was carried out on a debt-free, cash-free, lien and charge-free basis for a total company value of $ 15.0 million, in addition to 2.5 million common shares of Bright Mountain Media, Inc. Center Lane funded a $ 15.0 million senior secured term loan to Bright Mountain Media to fund the purchase price at closing.
“The Wild Sky Media team has done an incredible job growing their brand, telling unique stories to a diverse group of parents with a digital portfolio who have become a prominent voice in the space,” said Kip Speyer, President and CEO of Bright Mountain Media. “Together, we will help Wild Sky Media reach consumers more effectively while growing our portfolio of Bright Mountain Media owned websites. We look forward to working with their team to harness our innovations in digital media and advertising services, creating sustainable, long-term value for our shareholders. “
“This merger allows us to continue to fulfill our mission of creating the next generation of brands that young women can relate to,” said Emily Smith, CEO of Wild Sky Media. “Bright Mountain’s culture and technology, including its proprietary content and ad serving platform, allow for a strategic and effective combination. We believe this will be a positive and transparent change for our team and allow for accelerated growth for the remainder of 2020 and beyond. “
Greg Peters, President and COO of Bright Mountain Media, said: “Wild Sky Media’s portfolio is highly complementary to our growing end-to-end digital media and advertising services platform. When paired with our proprietary content and ad serving technologies, we are confident that their highly targeted audience of over 30 million unique visitors per month will deliver clear benefits to our stakeholders. “
About Wild Sky Media
Wild Sky Media tells the unique stories of our most diverse generation, delivering massive global reach through its hyper-engaging content and access to a multicultural niche audience. Wild Sky Media brands include parenting and lifestyle brands such as Coffee mom, Mom.com, Little things, Revelist, Baby name assistant, and MomsLatinas, reaching over 30 million unique and diverse users per month. For more information, please visit https://www.wildskymedia.com/.
About Bright Mountain Media
Bright Mountain Media, Inc. (OTCQB: BMTM) is an end-to-end digital media and advertising services platform, effectively connecting brands with targeted consumer demographics. By removing the middleman in the ad services process, Bright Mountain Media effectively connects brands with targeted consumer demographics while maximizing publisher revenue. Bright Mountain Media’s assets include Bright Mountain Advertising Network, LLC, MediaHouse (f / k / a NDN), Oceanside (f / k / a S&W Media) and 24 websites owned and / or managed. For more information, please visit www.brightmountainmedia.com.
Forward-looking statements for Bright Mountain Media, Inc.
This press release contains certain forward-looking statements which are based on current expectations and involve certain risks and uncertainties. These forward-looking statements can be identified by the use of words such as “should”, “could”, “intends”, “plans”, “believes”, “believes”, “plans”, “plans” , “Expect,” “plans” and “proposes” and similar words. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those. expressed or anticipated in forward-looking statements. -forward-looking statements, including, without limitation, statements made regarding expectations of our ability to complete the proposed acquisition of Inform, Inc., the realization of the expected benefits of this transaction if closed. You are urged to carefully review and consider all cautions and other disclosures, including statements made under “Risk Factors” in Bright Mountain Media, Inc.’s Annual Report on Form 10-K for the year ended December 31. 2019 as filed with the Securities and Exchange Commission on May 14, 2020 and our other documents filed with the SEC. Bright Mountain Media, Inc. assumes no obligation to update forward-looking statements, except as required by law.