BuyMedia Buys TvScan and CableScan

by Sep 18, 2000, 1:14 PM
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For decades, radio stations, TV stations and cable systems have relied upon desktop software applications to manage highly complicated and complex sales, traffic and billing processes. Though these tools manage the internal processes necessary to complete a media transaction, they do not provide a way for sellers to communicate directly with buyers. As a result, the configuration and communication of availability and subsequent orders continued to be a complex, expensive and time-consuming, clerically oriented job.

Today, BuyMedia, Inc. (www.buymedia.com), an Internet Capital Group partner company and a provider of technology solutions for advertising, announced four moves that position the company to lead the broadcast advertising industry to unprecedented sales and efficiency.

1. The company announced the acquisition of the TvSCAN and CABLESCAN divisions of TAPSCAN, provider of the sales software used by TV stations and cable systems controlling 90% of all national, regional and local advertising.

2. The company announced that Internet Capital Group (ICG) facilitated the TvSCAN and CABLESCAN acquisitions. This support comes on the heels of ICG's $45 million acquisition of interest in BuyMedia in January of this year.

3. The company announced the complete integration of the market dominating Marketron, TvSCAN and CABLESCAN software with BuyMedia.com (www.buymedia.com).

4. The company announced the opening of BuyMedia.com to rep firms.

These announcements follow on the heels of BuyMedia's acquisition of Marketron, provider of the station sales software used by radio stations controlling 80% of all national and regional advertising.

"It has always been BuyMedia's goal to be the first to unite the previously disparate functions and players in the advertising industry," said Mike Jackson, founder and CEO of BuyMedia. "This year, we've focused on expanding our team to include the most influential players in the broadcast space and perfecting our technology so that we can deliver a solution that raises the bar for broadcast sales and operations efficiency. In making today's market-leading announcements, BuyMedia has redefined the way media will be researched, bought and sold, ushering in an innovative new approach to Web-based commerce."

When BuyMedia deployed BuyMedia.com in 1998, buyers has the option to abandon tedious, time-consuming faxing and follow-up communications and moved to the Web, reducing the amount of time needed to check avails, research options and make buy decisions. At that time, BuyMedia.com became one of the most efficient ways to communicate avail requests and orders directly from buyer to station.

According to company officials, currently, more than 2,900 media buyers representing $20 billion in annual advertising orders use BuyMedia.com, accounting for nearly $2 million in daily sales.

By integrating BuyMedia.com with the market-dominating media buying and selling software prog

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