Montclair-based Pearl Media partnered with Seaport Capital and acquired New York-based Lure Outdoor. With this acquisition, Lure outdoor has earned the reputation of a premier street-level Out of Home Media company in the US. Seaport Capital indulges in lower-middle markets and primarily invests in communication infrastructure and services, business and information services and media companies.
LURE Outdoor's out-of-home (OOH) portfolio includes over 120 high-profile street-level mediums across New York City, Brooklyn, Chicago, and Los Angeles. As a result of the acquisition, Pearl will be able to deliver expanded reach to high-impact media within trendsetting hubs of significant cities. In addition, Pearl also focuses on providing clients with more targeted media buys through agreements with some of the most sought-after mixed-use developments and large format OOH assets in urban core downtown locations around the country.
Pearl Media's roots can be found in the OOH advertising mix throughout the decade, and it has always adored OOH by transitioning it in different directions.
"Pearl Media was born in OOH on the street level, pioneering the acceptance of Storefronts into the OOH media mix over a decade ago." said Joshua Cohen, CEO of Pearl Media.
"Pearl Media was born in OOH on the street level, pioneering the acceptance of Storefronts into the OOH media mix over a decade ago. Today the business has grown in several directions, however we have never lost our love for the medium and we recognized LURE has done an amazing job building out this high-profile permitted inventory in some of the top neighborhoods and cities in the country. We could not be more thrilled about the opportunity in front of us to continue to build out this portfolio with the expanded team," said Joshua Cohen, CEO of Pearl Media.
Lure Media is known for the larger-than-life OOH displays and is the first to develop "can't miss" eye-level Billboards and in-window displays. It has been creating bold and innovative campaigns for the last eight years. LURE's assets have helped businesses to break through the busiest, most attractive neighborhoods.
"With shared values and a shared love for street-level OOH media, joining Pearl is the ideal next step for LURE to grow. We are excited to see Pearl's vision for the combined entity come to fruition", said Jonny Kaloudis, CEO of LURE.