• by Wayne Friedman , August 31, 2023

Local TV linear ad buyers using Mediaocean, the largest U.S. media agency buying and selling system, will now get direct access to streaming and CTV inventory via Magnite.

The deal was made as “traditional television and digital increasingly converge,” says Richard Pacheco, senior vice president of strategic partnerships at Mediaocean, in a release.

As a result, it wanted to provide “interoperability with key players across the advertising ecosystem.” Magnite says this is important in an industry where cord-cutting has been accelerating.

Recently there was more “interoperability” news, with publishers on Magnite able to use Comcast-owned ad-technology platform FreeWheel to see and monetize Magnite inventory.

Magnite’s clients now have access to advertiser information in bid requests.

Second-quarter revenue for Magnite was 11% higher to $152.5 million. At the same time, net losses for the company expanded threefold to $73.9 million from $25.0 million in the prior-year quarter.

Year-to-date, Magnite stock is down 15% year-to-date, but 12% versus the previous 12 months.