Christopher R. Kelly, Fortuna Investments
Take Equity Stake In BIM
Kelly Joins BIM Advisory Board, Investment To Build Out Ad Network Services
and YouNews™ Distribution
February 18, 2009, MADISON WI –Broadcast Interactive Media, the leading provider of locally-focused website hosting and revenue solutions for local media websites, announced that Christopher R. Kelly of Fortuna Investments has taken a minority equity stake in BIM and will join the company’s Advisory Board.
Mr. Kelly has been the owner of Fortuna Investments since 1997, where he specializes in private investments and venture capital. Previously he was Partner and Director of Kelly Television, a Seattle Fox affiliate, and Kelly Broadcasting Company in Sacramento, California, an NBC affiliate. He also currently serves as a Director of Chyron Corporation.
“Given current economic conditions, it’s fantastic to be able to invest in companies such as BIM that have no debt and are generating strong positive cash flow,” said Kelly. “I’m eager to see BIM continue to build out YouNews™ and develop their local Ad Network services.”
Kelly joins Benedek Investment Group as the primary investors backing Broadcast Interactive Media. Benedek Investment Group first invested in BIM in 2003, with the company turning profitable in 2004 and growing organically since that time.
“Chris Kelly brings the perfect blend of local media and technology experience to Broadcast Interactive,” said BIM’s Chairman Stephen Benedek. “We’re extremely pleased to have him as an investor and member of our Advisory Board and look forward to building the company’s future.”
About Broadcast Interactive Media
Based in New York City and Madison, WI, Broadcast Interactive Media (www.broadcast-interactive.com) is the leading provider of locally-focused Web solutions for more than 130 television and radio broadcast station websites. Offerings include a comprehensive suite of revenue-generating programs including YouNewsTV™, national sales support, video streaming, content feeds, and technology development. Customers include groups such as NBC Local Integrated Media, Fisher Communications, Journal Broadcast Group, Granite Broadcasting Group, Meredith Broadcasting, Schurz Communications, and Freedom Communications.
Contact:
Marivic Valencia
Marketing Director
Broadcast Interactive Media
Ph: 608-255-2802
mvalencia@bimedia.net
About Forward-Looking Statements:
Except for statements of historical fact, certain matters discussed in this press release are forward looking and reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond our control and may cause actual results to differ materially from stated expectations. Actual results may also differ substantially from those described in or contemplated by this press release due to risks and uncertainties that exist in our operations and business environment. We undertake no obligation to release publicly the results of any revisions to these forward-looking statements to reflect events or circumstances arising after the date hereof.
Story Created:
Apr 17, 2009 at 9:33 AM CST
Story Updated:
Apr 17, 2009 at 5:31 PM CST