New York–Generation Y marketer Alloy (Nasdaq:ALOY) acquired MPM Holding, owners of Market Place Media (MPM), for $48 million in cash. MPM is a media placement and promotions company serving the college, multicultural and military markets through print, broadcast, and event media.
The acquisition not only enhances Alloy’s media and marketing offerings, which include marketing services company 360 Youth, but it now adds multicultural and military market capabilities to its arsenal. MPM consists of three media brands: AllCampus Media (college market), American Minorities Media (multicultural markets), and Armed Forces Communications (military market).
Alloy expects MPM to generate between $22 million-$24 million in revenue, and $1.7 million-$2.0 million in earnings before interest, taxes, depreciation, and amortization (EBITDA) in the second half of fiscal year 2002. For its fiscal 2003, Alloy expects MPM to generate $50 million-$55 million in revenue, $5.0 million-$5.5 million in EBITDA.