Access 360 Media, an operator of a digital video network in 49 malls, is diversifying its portfolio, announcing Thursday (April 29) it acquired the assets of Arena Media Networks, which filed for bankruptcy earlier this year. Terms of the deal were not disclosed, but reports estimated the deal at several million dollars of mostly debt.
With AMN, Access 360 gains a network of 18,000 screens in 50 sports stadiums, including Yankee Stadium, Madison Square Garden, Wrigley Field and Dodger Stadium.
All former employees of AMN will remain with Access 360, doubling Access 360's sales team. Art Williams, CEO and co-founder of AMN will take on the new title of president and chief operating officer of Access 360.
"We're dedicated to this industry and excited to be expanding our core business; we will certainly continue to increase our footprint to offer advertisers further scale," said Lon Otremba, CEO of Access 360 Media.