Forsyth County News reports that Morris Multimedia entered the out of home advertising business by purchasing a double sided digital billboard in Cummings, Georgia from Incorvaia Media. Kalil and Co brokered the transaction.
Kalil’s Max Drachman tells Insider about the transaction: “Morris Multimedia is a dynamic Television and Print company with assets throughout the South. We know them very well from our broadcast division. They recognize the health of the Outdoor industry, and the benefits of adding another vertical in markets where they have a strong sales infrastructure in place. A friend of a friend called asking for assistance in selling, and we put the deal together and closed within 35 days of our first conversation with the owner, Incorvaia Media. We were happy to help bring another new player into the space.”
Morris Multimedia operates 65 publications, TV stations and other media ventures in 9 states and the Carribean.
Invorvaia Media provides creative design, management and billboard development services to the out of home industry.
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Hasn’t Morris always been in the OOH business? Didn’t they the money behind Fairway at one time? Naegele Outdoor was purchased by Morris Communications Corp. in 1985, and subsequently renamed Fairway Outdoor Advertising in 1991.
Morris Media is owned the the uncle of Charles Morris Jr, who’s running Morris Media so while this is Morris Multimedia’s first foray into out of home, the Morris family has invested in out of home before.