Financial specifics were not disclosed.
“We believe there is a natural compatibility between radio stations and Web
sites: both provide highly specialized content which is free to the user and
paid for by advertising dollars,” said Ralph Guild, CEO of Interep. “Relying
on BURST!’s understanding of the Internet advertising space and Interep’s
leadership in radio sales, we intend to capitalize on these synergies.”
BURST! provides advertising representation and ad management technology to
more than 2,500 member Web sites.
The company said the sale of a minority stake underscores its plan for more
“At BURST!, we have truly bootstrapped the company since its
founding in 1995, and we believe the online advertising marketplace is finally
ready for more rapid growth,” said Jarvis Coffin, CEO of BURST! “We are
convinced it is the right time
to expand our sales force, as well as meaningful benefits for our Web site
members. Interep’s strategic investment will help us invest in our future. . .”
Both BURST! and Interep are privately held.
Interep, with offices in 15 cities and annual billings of more than $1
billion, represents over 2,000 radio stations nationwide. Interep is the
parent of ABC Radio Sales, Allied Radio Partners, Caballero Spanish Media, CBS
Radio Sales, Clear Channel Radio Sales, D&R Radio, McGavren Guild Radio, as
well as the Interep Networks, Sports Marketing and support services including
research, promotion marketing and its new business development team, Radio