American Media, Inc. Announces Partnership With Fresh Media Group
(Press Release) NEW YORK, Nov. 28, 2011—David J. Pecker, Chairman, President and CEO of American Media, Inc. (AMI), today announced that the company has entered into a long-term partnership with Group FMG (FMG), an international media production agency whose capabilities will allow AMI to engage in cutting edge automated technologies. This deal, estimated to be north of $10 million, will reduce costs and help to optimize services and develop solutions.
The production services provided by FMG will allow AMI to realize significant savings by streamlining its production process, managing cross-media content between print and digital platforms and widen the process to deploy this content across emerging media platforms. AMI intends to offer these services to its publishing services clients, as well.
"Every publisher today is looking to reduce their costs," added Pecker. "And being able to provide them with the production efficiencies we developed for AMI's publishing services business unit allows us to build on this new revenue stream for the our company."
Mike Esposito, Senior Vice President of Operations and Digital Production commented, "FMG is the ideal partner to help AMI continue to optimize its internal production processes as well as it migration to distribute content across digital platforms. This is the next step in a series of enhancements that AMI began earlier this year."
Dilip Keshu, CEO, Group FMG said, "We are delighted to win this deal. Our combination of underpinning our services with enablers such as industry knowledge, robust processes, technology accelerators and analytics with unique ROI-oriented commercial structures seeks to provide an all-party win."
Anish Nanavaty who leads Group FMG's Americas business said, "This deal builds on FMG's 30+ years of experience providing the Publishing industry with innovative media production solutions. Our partnership with AMI on print and digital production processes is a new paradigm for publishers coping with the need to deliver content across multiple channels in a cost efficient manner."