Online Advertising Articles|
Mediapassage Completes Merger with OneMediaPlace
Seattle, WA – Wednesday March 7, 2001 – Today Mediapassage, the leading provider of e-commerce solutions for the planning, placement, and payment of ad media transactions, and OneMediaPlace, an online service specializing in front-end planning and purchasing functions for a range of media channels, have announced the completion of the merger of their two companies. It has also been announced that the name of the merged company will be Mediapassage.
"The combined capabilities of these two companies enables Mediapassage to deliver a broader set of services to our customers," said Gilbert Scherer, Chairman and CEO. "We are particularly excited about adding Web-based pricing to our e-commerce platform which strengthens our position in the evolving media e-marketplace."
The plan to merge Mediapassage and OneMediaPlace was first released last January. At that time a name change to OneMediaPassage was considered. But with the finalization of the merger it has been decided that the Company will keep the name Mediapassage, noting the strength of its brand name and business model.
Established in 1997, Mediapassage created the first end-to-end solution for the planning, placement, tracking and payment of print advertising. The company has processed $900+ million in over 300,000 newspaper and magazine transactions for some of the country’s largest advertising agencies and clients. This is the second recent merger for Mediapassage, which last September united with broadcastspots.com to become the first end-to-end provider for both print and broadcast media.
Gilbert Scherer will continue to serve as Chairman. The Company now employs over 200 and its corporate headquarters will remain in Seattle with offices in New York, Chicago, Los Angeles, and San Francisco.