By: Press Release | CineSport
New York, NY—May 16, 2013 – Van Wagner Communications, LLC (VW) announced today a strategic joint venture between its sports division, Van Wagner Sports and Entertainment, and CineSport LLC, a leader in the production and distribution of online sports video content. Through this collaborative partnership, the two companies will provide and monetize original sports video content to more than 100 leading local, digital sports destinations, including the
New York Post, Los Angeles Times, Boston Globe, Philadelphia Inquirer, St. Louis Post-Dispatch and Atlanta Journal-Constitution. The joint venture, announced by Van Wagner CEO Richard Schaps, is the company’s first foray into the digital media space. With a seven-figure minority stake in CineSport, Van Wagner Sports and Entertainment will serve as a seamless extension of the company, focusing on the development of an extensive sales force dedicated to this effort.
“This partnership marks an important milestone in the continued evolution of Van Wagner,” explained Richard Schaps, CEO of Van Wagner Communications. “We have taken the time to carefully vet a number of digital opportunities, and the wait was worth it. Digital video is one of the fastest growing segments of the advertising industry, and we believe aligning ourselves with CineSport and their impressive leadership team will prove highly successful. We look forward to growing this relationship as we continue expanding the companies’ offerings.”
CineSport, conceived and managed by Emmy Award-winning sports executives and producers, creates and syndicates original sports video programming, highlights and news for distribution partners in 20 of the nation’s top 30 DMAs. The company recently developed a video and monetization technology, known as VaMP, to meet the growing video content demands of news and information sites. Through this service, publishers can now easily embed and promote video content, maximizing engagement and monetization. CineSport has also entered the premium original content arena with
#Hoops and
Football Inside Out, which are featured on Hulu and the CineSport network of sites.
Van Wagner Sports and Entertainment president and CEO, Cliff Kaplan added, “CineSport is a unique platform that has shown extraordinary growth since its launch, ranking consistently among comScore’s top five sports video platforms this year. CineSport’s impressive distribution and mix of original programming and league highlights combined with Van Wagner’s notable track record in working with and growing emerging sports media platforms makes us confident in our ability to meaningfully grow CineSport’s business.”
In commenting on the announcement, CineSport CEO Gregg Winik said, “Van Wagner’s long standing client relationships and ability to sell premium marketing opportunities to advertisers and brands was what solidified this partnership for us. Their confidence and investment in CineSport validates our belief in the strength of this model, and we welcome their extensive expertise in the sports business space.”
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