Product Placement Central®

NextMedium, Inc.’s Assets Sold

Written by Publisher on February 3, 2009

A recent PRNewswire release reported that Newport Coast Investments, LLC, the investment arm of Ryan and Chad Steelberg, and Ascend Venture Group, announced it has agreed to acquire all of the assets, software, and intellectual property of NextMedium, Inc., the Los Angeles, CA-based product placement ad platform for television, film, and online video.

Founded in 2004, investors reportedly spent more than $12 million in developing what was believed to be the definitive product placement platform for marketers and entertainment content providers. NextMedium’s solution, Embed, was protected by domestic and international patent filings and believed to be the world’s first full-service management system to enable the cost-effective buying, selling and measurement of product placement in entertainment content. Strategic partnerships included NBC Universal, MTV Networks, and BET Networks, among other premier media partners, for product placement fulfillment and management.

“Despite the challenging market conditions, we believe that investment in new and innovative advertising platforms and technologies is essential and will provide the basis for future industry growth and increasing advertising effectiveness,” said Chad Steelberg, Managing Director of NCI.

The Steelbergs plan to manage NextMedium’s platform and technology base via one of the Steelberg’s operating companies, Brand AffinityTechnologies, Inc., (“BAT”) based in Irvine, California. For moreinformation on BAT, please visit http://www.BrandAffinity.net. Hamet Watt, NextMedium’s founder, and other members of NextMedium’s team will assist in the transition and continue to play a role in the operation of the NextMedium platform and services. with the goal to support full operation of the platform in early 2009.