FremantleMedia announces a majority stake in @radical.media
FremantleMedia, one of the largest creators and producers of entertainment brands in the world, today announces it has taken a 60 per cent share in @radical.media, a global transmedia business that creates some of the world’s most innovative advertising and branded entertainment content.
The deal represents FremantleMedia’s first large scale move into the branded entertainment market, allowing the company to further diversify its revenue sources and to develop new business models. @radical.media’s Chairman & CEO Jon Kamen will continue in his role and the partnership will not impact any of the firm’s existing management team and relationships.
FremantleMedia CEO Tony Cohen announced the deal during the company’s press breakfast at MIPCOM in Cannes, France. He said: “This major investment increases our expertise and capability as a multi-platform branded entertainment business. @radical.media’s reputation and relationships with the world’s leading advertising agencies, their clients and broadcast partners, combined with their strong creative profile and in-house talents, allows both organisations to develop more on- and off-screen content for broadcasters and brands. We are very excited about working with Jon and his exceptional team and we welcome @radical.media to the FremantleMedia family.”
This investment is an extension of an ongoing and successful relationship which began between @radical.media and FremantleMedia’s brand extension arm, FremantleMedia Enterprises (FME). The division has been working with @radical.media since 2008 on several highly successful projects such as the critically acclaimed TV series Iconoclasts on the Sundance Channel, Britney: For the Record and the table tennis tournament Hardbat Classic on ESPN. @radical.media, which has offices in New York, Los Angeles, Berlin, Sydney and Shanghai, will now continue bringing its expertise to FremantleMedia’s extensive global network of production, distribution and licensing companies.
“We are delighted to be furthering our relationship with FremantleMedia and working creatively with them to develop new business opportunities that will help maintain our position as a leading global transmedia company,” said @radical.media’s Chairman & CEO Jon Kamen. “As a new member of the FremantleMedia family, @radical.media will have access to new customers, new territories in key international distribution outlets and even more innovative brand extension opportunities for our existing clients.”
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