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SANTA MONICA, Calif. -- Outcast Media is merging with its long-time joint venture partner PumpTop TV, and expanding into the fitness vertical through a merger with Health Club Media Network (HCMN), the largest advertising company in the health club industry. The newly combined network will reach on-the-go consumers in more than 5,000 gas stations and health clubs in 130 U.S. markets.
Parthenon Capital Partners, a private equity firm and current investor in HCMN, will invest new equity capital in the combined company to fuel continued growth and expansion. Outcast also secured bank financing from Silicon Valley Bank. Matthew Stoudt and Nathan Gill will lead Outcast's management team as CEO and chief revenue officer, respectively.
"This consolidation represents the natural extension of both companies' strategy to build a network dedicated to reaching the active, on-the-go consumer, at a point of influence," Stoudt said in a statement. "With the strong support of Parthenon Capital Partners and PumpTop TV's advanced technology platform, we will be able to rapidly expand our footprint and product offering to better serve our advertisers and venue partners."
Outcast will initially operate the combined company as two channels with a common purpose of reaching active consumers in spend-ready environments. Outcast's PumpTop TV network reaches consumers at the pump via 11,000 one-to-one high definition displays. HCMN, which will be run as a division of Outcast, reaches active consumers inside nearly 4,000 health clubs through a combination of high-definition digital and static displays.
"In today's rapid-fire, highly cluttered world, advertisers must rethink the ways to reach and influence active consumers who lead busy and distracted lives," Gill stated. "Our consolidated network provides a national footprint for advertisers with the unmatched ability to connect with young and affluent consumers on the path to purchase."
Outcast Media is based in Santa Monica, Calif., with offices in New York City and Chicago.