Big Flower Holdings Inc. disclosed
that it made a strategic investment (dollar figures were not announced) in 24/7 Media Inc., the newly formed Internet
advertising network based in New York City.
“We are pleased to be a part of this innovative and powerful new business. We
believe that our own operating companies will benefit from this association,
and that our customer relationships will be valuable to 24/7,” said Theodore
Ammon, chairman of Big Flower Holdings.
Big Flower is an advertising and marketing services company with three
principal lines of business: targeted advertising inserts and circulation-
building newspaper products, customized direct mail and direct marketing, and
digital services, including outsourced digital premedia and computer-based
management systems for the broadcast industry.
24/7 provides advertising sales and related services for more than 100 Web
sites. Clients include AT&T WorldNet, Columbia House, Comedy Central,
Reader’s Digest, Reuters MoneyNet, Frommer’s Travel
Guide, Rolling Stone, Modern Bride and Better
Homes and Gardens Online.
24/7 Media was formed by the merger of Petry Interactive Inc., Katz
Millennium Marketing and Interactive Imaginations Inc. The company will
provide an estimated 400 million advertising impressions per month, making
it among the largest interactive sales companies.
“We expect that the relationship (with Big Flower) will provide 24/7 with new
opportunities to help us in building our business. Laser Tech Color’s digital
asset archiving systems are attractive to many of our customers who need
powerful software to manage images needed for their Web sites. In addition,
TC Advertising’s Secure-Tran Web Systems offers us an exciting opportunity to
expand into retail, a new category of business for our company,” said David
J. Moore, chief executive officer of 24/7 Media.
