Magnite has closed its $US1.14 billion acquisition of SpotX from RTL Group, creating the largest independent CTV and video advertising platform.
“Scale and reaching the largest possible audience is the name of the game when attracting the demand our CTV and video clients need,” says Michael Barrett, CEO of Magnite.
“Acquiring SpotX positions us to become the world’s largest, independent source of highly-coveted CTV and video inventory.
"Two-thirds of our revenue is now concentrated in the fastest-growing segments of the market, and as linear TV dollars move to CTV, the greatest opportunity is still ahead of us.”
Scott Keslar, purchasing senior manager of global programmatic at The Procter & Gamble Company: “As advertising and media continue to move towards digital and data-driven programmatic, transparency and quality inventory are top priorities for us."
Tim Sims, chief revenue officer at The Trade Desk: ““CTV continues to be the fastest-growing channel globally, and by providing the technology that Magnite brings together makes it that much easier for advertisers to place ads on the largest screen in the room."
RTL Group is being paid $US$560 million in cash and 14 million shares of Magnite. RTL Group took full ownership of SpotX in 2017
Together, Magnite and SpotX will serve some of the world’s leading programmers, broadcasters, platforms and device manufacturers, including A+E Networks, Crackle Plus, The CW Network, Discovery, Disney/Hulu, Electronic Arts, Fox Corporation, fuboTV, Microsoft, Newsy, Philo TV, Pluto TV, Roku, Samsung, Sling TV, Tubi, ViacomCBS, Vizio, Vudu, WarnerMedia and Xumo.
Estimated full year 2020 combined net revenue for the two businesses would have been $US350 million.
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