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Initiative Media North America continues to aggressively pursue chairman and CEO Lou Schultz’s ambitious growth plans. The latest piece fell into place last week when Initiative acquired privately held promotional TV agency PIC TV, the nation’s largest source of promotional TV advertising spots.
The Burbank, Calif.-based company will be merged with Initiative’s Promotional Broadcast Services division , a category pioneer that was formed in 1984, resulting in a new, freestanding division called PIC TV. The combined entity will command an estimated $100 million in promotional ad dollars.
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