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FOR IMMEDIATE RELEASE
January 3, 2001
Interep (Nasdaq: IREP) Takes Majority Stake in New Company
New York - Cybereps, a premium
online ad sales and marketing firm, and Interep Interactive, the
online advertising and streaming media division of radio industry
leader Interep (Nasdaq: IREP), are joining forces to become the
first interactive marketing and integrated media sales and web publishing
company. The transaction includes an investment by Interep, giving
Interep 51% ownership of the merged company.
The new company will operate
under the Cybereps name and will build on both companies' extensive
media expertise and experience in developing both online and offline
advertising campaigns and sponsorships.
Ralph Guild, Chairman of
Interep, commented on the merger by noting, "Interep has a tradition
of being on the forefront of innovation. We continuously challenge
ourselves to be on the cutting edge in radio, market research and
media representation."
Mike Warsinske, CEO of Cybereps
said, "This provides us with the resources and corporate infrastructure
that we need to move our company to the next level of sales and
profitability. We also gain access to some of the industry's most
savvy marketing professionals, giving us the ability to create and
implement large integrated media packages for advertisers. This
includes online sponsorships, custom publishing, cross-media promotions,
streaming audio and video, radio, and email."
Founded in 1996, Cybereps
has a solid reputation in the field of individual ad sales and marketing
representation of premium quality content websites, as well as from
publishing two of their own vertical content networks, Totalwoman.com
and FGN.com.
Interep Interactive created
some of the first cross-media programs for key national advertisers
and has been a pioneer in the field of streaming audio and video
entertainment. Adam Guild, founder and President of Interep Interactive
will continue as President of that company and will remain with
the merged company as President, Corporate and Business Development.
Graham Keenan of Interep Interactive will continue as Executive
Vice President for the new company.
Mike Warsinske, Ted Welch
and Crystal Gurin, co-founders of Cybereps, continue as CEO, President
of Sales, and Executive Vice President, respectively.
Adam Guild, President of
Corporate and Business Development added, "This latest move is right
in line with our strategy. A merger of the executive management
and sales divisions of both companies, along with Interep's infrastructure,
creates a company that will be a leader in interactive and cross
media selling."
The combined company has
offices in New York, San Francisco, Philadelphia, Boston, Los Angeles
and Detroit and draws on the infrastructure of Interep for research,
marketing and promotions, direct advertiser contact and cross-media
selling. The combined company has over 100 clients serving over
850 million monthly impressions.
Cybereps is the first interactive marketing and integrated media sales and web
publishing company. Formed by the merger of Cybereps and Interep Interactive,
the company specializes in ad sales, marketing, and streaming media sales for
some of the web's best content sites and networks. Cybereps is known for quality,
service and its creativity in developing and implementing distinctive sponsorships,
integrated media packages and promotional campaigns. Cybereps publishes The Future
Games Network (FGN), TotalTech.com, and Totalwoman.com, three prominent vertical
content networks. Cybereps clients include Reuters, adsGuide, HowStuffWorks, AutoWorld.com,
BizReport, bonus.com, Cydoor, Coupons.com, FmiTV, Giant Rewards, Hot Telephone,
iBeam, Nutrio, Peel, Planet Source Code, RadioWave, WebBuilderZone, RootsWeb,
SiteExperts, Batanga, and laMusica, among many others. The company has offices
in San Francisco, New York, and Los Angeles.
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