Dolphin Digital Media has paid $28 million to acquire the showbiz PR marketing firm 42West. The transaction is being made through Dolphin common stock and there is a performance based consideration of up to $9.3 million to be paid over a three year period.
“From the standpoint of content creation, having a quality marketing strategy and the ability to execute it are as important as the quality of the product itself,” said Dolphin Digital Media CEO Bill O’Dowd. “Simply put, you must be heard to be seen. In today’s highly competitive entertainment environment, with billions of dollars spent annually on the production and marketing of feature films and more than 500 original scripted television and digital series available to the consumer each year, 42West’s experience and expertise are invaluable. Bringing them into the Dolphin family will give us the ability to evaluate any project’s marketing potential prior to its greenlight, and further allow us to develop its marketing strategy prior to the start of production.”
“Leslee, Amanda, and Allan are industry leaders at the top of their game,” added Mr. O’Dowd, referring to 42West principal partners Leslee Dart, Amanda Lundberg, and Allan Mayer. “They, along with their senior management team, have built 42West into a best-in-class entertainment marketing powerhouse that combines an unparalleled A-list celebrity client roster with an elite roll of corporate clients that includes virtually every major studio, pay television network, and important digital platform. This unique combination of individual and project marketing creates tremendous opportunities for strategic partnerships, from new content creation to consumer brands and beyond.”
“In Dolphin, we’ve found a kindred spirit as well as a strategic partner,” Dart, Lundberg, and Mayer said in a joint statement. “At a time of enormous innovation in the entertainment and media industries, we’re delighted to be joining up with a ground-breaking, accomplished organization that can provide us with the broad platform and ample resources to take full advantage of the many exciting opportunities before us. In particular, we look forward to developing our capabilities in content creation, which will enable us to create additional value for our clients. Bill O’Dowd and his team at Dolphin understand and appreciate what we do, and together we’ll be able to execute at an even higher level.”