In a statement, Media Central said it is consolidating and digitally monetizing over a million premium consumers of around 100 alternative urban publications across North America.
Lightheart will identify and carry out financial modeling of alternative urban weeklies throughout North America for acquisition by MediaCentral. It brings a wealth of experience in identifying and funding value-added businesses for acquisition through their finance and advisory channels, and as a private family wealth manager, the company added.
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Lightheart advised MediaCentral on its recent acquisition of the Vancouver Free Press, publisher of the venerable 53-year-old The Georgia Straight.
"We look forward to working with Lightheart as we continue to build on our strategy to consolidate the 100 million strong readers of urban publications, digitize them, and monetize them." said MediaCentral CEO Brian Kalish.
"We have accomplished a lot in just a few short months and with the addition of more quality titles in the urban alternative publishing market, we will continue to convert and expand our digital reach, taking advantage of the $300 billion digital ad market."
Wei Lin, a founding partner at Lightheart added: "We are pleased to be working with MediaCentral. The company and its management team have clearly demonstrated an ability to identify, assess and acquire valuable media properties.
"It is our view that there is significant opportunity to consolidate and monetize an important and influential segment of the media market in North America and we look forward to being part of the MediaCentral strategy."
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