Horizon Media, one of the largest advertising companies not owned by the big publicly-traded entities that dominate the industry, intends to sell off a minority stake to investment firms, ending its decades of pursuing a purely go-it-alone strategy.
Horizon, long controlled by entrepreneur Bill Koenigsberg, said it had sold a piece of the company to Temasek, a Singapore investment firm. LionTree Advisors, an investment firm led by Aryeh Bourkoff, will also become an investor as part of the transaction. Financial terms were not disclosed, but Koenigsberg is to remain “the long-term majority shareholder” of the agency. Horizon was founded in 1989, employs 2,500 people and manages media investments valued at more than $9.5 billion
“Horizon sees more opportunity than ever before to take advantage of gaps in the marketplace and continue our significant growth in driving positive business outcomes for our clients. In evaluating the next evolution of Horizon, I wanted a world class partner who is like-minded strategically, has the same appetite for growth, understands the media, marketing, and technology landscape, is global in scale, and culturally aligned,” Koenigsberg said in a statement. “I found that perfect combination in Temasek and LionTree.”
Horizon is one of a handful of large firms that help advertisers allocate and invest millions of dollars in advertising, serving all the while as influential go-betweens that deal with blue-chip marketers and the media outlets they need to get the word out about their products and services. Horizon has long worked for Berkshire Hathaway’s Geico, one of the nation’s biggest ad spenders, along with Anheuser-Busch InBev’s Corona beer and CBS. Horizon is also involved in the launch of the Hoop Dreams Classic, an event that is backed by actor Michael B. Jordan and WarnerMedia among others.
But the other media buying giants, like Magna, Omnicom Media Group and GroupM, are backed by Madison Avenue giants like Interpublic Group, Omnicom Group and WPP. Koenigsberg has, over the years, chosen to remain independent — and some clients have appreciated it.
In the past, Koenigsberg has seen his company’s independence as an advantage. “Being CEO for the company for the last 30 years and having a long-term vision is an enormous competitive advantage, because when I look at my competitors — and I don’t want to go back 30 years, let me go back 10 — there have probably been 100 different CEOs at my competitor agencies,” he told Ad Age in 2020. “When a new one comes in, they feel the need to shake things up and leave a mark,” he said, adding: “There’s an inconsistency in where they’re going. For me, I’ve had a much longer runway and an ability to drive the business forward with this long-term vision.”
Public Advisory: Update on Provincial Alert Level; Minister Haggie Available to Media – News Releases – Government of Newfoundland and Labrador
Based on the current epidemiology of the province, the Chief Medical Officer of Health, Dr. Janice Fitzgerald, advises that the province will remain in the modified Alert Level 4 until at least January 24, 2022. A further assessment on the province’s Alert Level will be made at that time.
The Honourable John Haggie, Minister of Health and Community Services, will hold a media availability today (Monday, January 17) at 2:30 p.m. to discuss Alert Levels.
The availability will be live-streamed on the Government of Newfoundland and Labrador’s Facebook and Twitter accounts and on YouTube. All media covering the availability will join by Zoom only. To participate, please RSVP to Jillian Hood (email@example.com) who will provide the details.
Media planning to participate must join at 2:15 (NST) to be included on the availability.
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Health and Community Services
Social media challenge supports late Betty White’s love for animals – Globalnews.ca
Hollywood icon Betty White would’ve been 100 years old today.
To honour the Golden Girls star’s support for animal advocacy, people around the globe are celebrating the Betty White Challenge — recognizing what would’ve been a milestone by contributing to White’s favourite cause.
Winnipeg Humane Society CEO Jessica Miller told 680 CJOB that White’s love for animals is something that shone through in many of the tributes the late actress received in recent weeks.
“Loving animals is just such a sincere, true show of character, and Betty was certainly that. She was a very, very beloved advocate and animal lover,” said Miller.
“When this got brought to our attention, we thought, wow, that’s such a nice way to honour such a lovely lady. We decided we would accept donations but we wouldn’t technically ask for them.”
The challenge, spurred on by the social media hashtag #BettyWhiteChallenge, encourages fans to donate what they can to a local animal shelter on White’s birthday.
Miller said anyone wishing to donate on White’s behalf can do so online.
“We’ll see what happens throughout the day,” she said. “Whatever comes in for our animals is amazing.”
Social media challenge supports late Betty White’s love for animals
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