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Investment underlines importance of content for publishers, brands
As more consumers go online for news and entertainment - and go online from different devices depending on where they are in their day - online brands and content producers are looking for better ways to engage and target those audiences. A funding announcement underlines the growing importance of content in the online space.
Riordan, Lewis & Haden Equity Partners is investing more than $20 million in The RGM Group, an online media hub focused on premium content for brand advertisers and publishers. The funding will allow RGM to push national sales, creative and technology efforts in the online content space.
"As we looked at opportunities within the rapidly growing digital media industry, RGM clearly stood out as a company well-positioned to deliver differentiated, value-added solutions for premium brand advertisers in a dynamic marketplace," said J. Christopher Lewis, Managing Director of RLH. "We are pleased to have the opportunity to work closely with the RGM team to enhance and broaden the company's unique platform and to build upon RGM's solid reputation for delivering the highest quality integrated brand advertising solutions."
Along with the investment, the company has hired a new CEO in Kurt Johnson; former CEO Kamran Razavai is now the Chief Strategy Officer.
"Joining the RGM Group as CEO is a rare opportunity to help lead a company that has established the industry's leading platform for premium national and global brands that directly engages with consumers in the right context of quality digital media," said Kurt Johnson, RGM Group CEO. "With a total reach of more than 155 million U.S. consumers, and deep content integrations with marquee Web sites and publishers, RGM is poised for significant growth as we deliver an expanding array of products to the market at much greater scale."
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