Alloy Buys Market Place MediaAlloy Inc., a print and online publisher of Generation-Y catalogs and publications, paid $48 million in cash for MPM Holding Inc.'s Market Place Media, a media placement and promotions firm targeting the college, military and multicultural markets.
The acquisition brings with it AllCampus Media, Armed Forces Communications and American Minorities Media. These brands reach youth-oriented markets through targeted newspapers, community dailies, radio stations and magazines.
Based in Santa Barbara, CA, MPM offers services like media buying and tracking, market research, publicity, promotions, event execution, analysis and information services. Clients of MPM include UPS, General Motors Corp., U.S. Army and AT&T Corp.
Alloy expects MPM to generate $22 million to $24 million and operating income of $1.2 million to $1.5 million in the second half of fiscal 2002. Similar projections for fiscal 2003 are $50 million to $55 million and $3.8 million to $4.3 million, respectively.
Market Place Media services now will be offered alongside Alloy's 360 Youth Media division. Alloy still will retain more than $60 million in cash after the acquisition.