– An investor group led by ZelnickMedia announced on Thursday that it will
acquire Alloy, a youth-focused ad network and entertainment producer, in a deal
valued at $126.5 million.
The purchase price of $9.80 per share represents a
premium of 27% over Alloy’s recent average share price.
Members of Alloy’s senior
management will also invest in the transaction in conjunction with
The investors said that they "aim to build Alloy into a
leading entertainment and media brand for the millennial generation (ages
10-29)," noting that the company’s entertainment unit has produced hits
such as "Gossip Girl," "The Vampire Diaries" and "The
Sisterhood of the Traveling Pants."
Alloy’s ad network attracts a total
monthly audience of 51 million unique visitors.
Oxygen Network founder Geraldine
Laybourne will serve as chairman of the company, while Alloy’s co-founders,
Matt Diamond and Jim Johnson, will continue to run the company as CEO and COO,